Box office year off to a hot start.L.A. COUNTY - The year 1996 came in like a lion for Hollywood, as first-quarter domestic box office results soared 25 percent over last year's total for the period. Motion picture box office receipts in the U.S. and Canada totaled $1.268 billion between Jan. 2 and April 2, according to Beverly Hills-based research firm Entertainment Data Inc. That's an increase of more than $250 million over the year-earlier figure of $1.015 billion. Top 10 movies, first quarter(*)
Film Receipts
(in millions)
Mr. Holland's Opus $74.9 The Birdcage $74.6 Broken Arrow $65.9 12 Monkeys $56.4 Grumpier Old Men $40.3 Up Close and Personal $40.0 Jumanji $39.0 Executive Decision $35.8 Sense and Sensibility $35.8 Happy Gilmore $34.8 * Between Jan. 2 and April 2 Source: Entertainment Data Inc. Although box office receipts represent only a small portion of the revenue stream for a major Hollywood production, with most of a film's earnings coming from home video sales and overseas exhibition, they serve as a strong barometer for measuring a film's overall potential. The phenomenal first-quarter increase is especially good news for the film industry, considering that 1995 was a record-breaking year at the box office - although, analysts point out, winter quarter 1995 was weaker than the same period in 1994. A partial explanation for the uptick is that there are more films in circulation so far this year than last. According to Tom Borys, senior vice president at EDI, 41 films were distributed in wide release (meaning more than 600 screens) in the first three months of 1996, compared to only 34 during that period in 1995. Several score well In addition, there are simply more hit films this year. Last year's top money-maker for the first quarter was the Sony Corp. release "Legends of the Fall," which grossed about $63 million by March 31, 1995, Borys said. This year, three movies surpassed that total: "Mr. Holland's Opus" distributed by Buena Vista Pictures Distribution, with $74.9 million; second-place finisher "The Birdcage" from MGM/UA Distribution with $74.6 million; and Twentieth Century Fox's "Broken Arrow," which made $65.9 million through March 31. Market share figures show that Burbank-based Walt Disney Co. is dominating ticket sales so far this year. Buena Vista, Disney's film distribution arm, has a 22.6 percent share of the domestic film market through March 31. That total nearly doubles the 11.7 percent share achieved by its closest competitor, Sony, which distributes films produced by its Culver City divisions Columbia Pictures and Tristar Pictures. "Buena Vista is a production and distribution machine," said research director Arthur Rockwell with Los Angeles-based financial research firm Yaeger Capital Markets. "This doesn't mean they're making money with all that stuff. But when you have this kind of market domination, obviously you're in a strong position." Winter quarter market share(*)
Distributor Films Share Receipts
(in millions)
Buena Vista 18 22.6 $286 Sony 16 11.7 $148 MGM/UA 12 11.2 $142 Warner Bros. 13 11.0 $139 Fox 5 10.5 $133 Universal 9 9.9 $126 Paramount 10 7.0 $89 Miramax 17 6.5 $83 New Line 10 5.0 $63 Gramercy 7 3.3 $42 * between Jan. 1, 1996 and March 31, 1996 Source: Entertainment Date Inc. More surprising than Disney's success was the relatively poor performance by Burbank-based Warner Bros., traditionally one of the top box office performers. The studio is in fourth place in market share with II percent. Warner Bros. has released only 13 films so far this year, compared to 18 by Buena Vista. According to Rockwell, Warner Bros. is holding back its strongest films for release this summer and fall. Analysts Borys and Rockwell agreed that box office totals in 1996 are likely to surpass 1995. However, Borys warned that there may be a slump in ticket sales during the spring quarter because of a dearth of strong upcoming releases. "As hot as things are now, they are starting to cool off a bit," Borys said. "With the exception of 'The Birdcage,' I don't see anything to get excited about until this summer." |
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