Russian Film Industry Growing Exponentially
A new report indicates that the Russian film industry experienced astounding growth during 2009 and the first half of 2010 despite a downturn in the first half of 2009. The study by research firm Nevafilm for the European Audiovisual Observatory disclosed that movie theater admissions rose by 14 percent during the year, aided considerably by 3D surcharges and the availability of a growing number of 3D films (from 15 in 2009 to 40 in 2010). Box office revenue grew in rubles by 13 percent last year, but fell in dollars due to a decline in the valuation of Russian currency. Investment in feature film productions has picked up in 2010, the report said, due to consolidation among several major Russian film companies and restructured government support. Growth in the number of new theaters slid to 5 percent in 2009 after years of outsized expansion. "3D was the main motor for growth in digital projection facilities, with 100 new screens added in late 2009 for the launch of Avatar and a further 80 for Shrek Forever After , bringing overall digital penetration of modern screens in Russia to 23 percent in July 2010," the report noted.