Suspected Slump In Overseas Movie Revenue No Issue For Well-Positioned Production Studios

Hollywood went global long ago. That’s no knock against an industry designed to fill theater seats and make money regardless of where the audience may be physically located. Well-positioned production companies were also able to seize on the shift and better position themselves to work with international partners to produce top-rated television shows and films. One such production company is Ivanhoe Pictures, which was formed in 2013 and now boasts offices in Los Angeles, New York, and Hong Kong. The company produces and finances film and television projects both at home and overseas. Thanks to their various partnerships, Ivanhoe has produced local language films in India, South Korea, and China. In fact, South Korean film “The Wailing” is Fox’s second-highest grossing film in Korea ever, earning some $50 million in U.S. dollars.

Such success is what keeps quality content available for consumers, but news reports indicate fluxuations do occur. According to a spring 2017 New York Post report, the overseas market for Hollywood films raked in just $27.2 billion in 2016 – which is $1 billion less than it did the year before. The lower estimate, which comes from the Motion Picture Association of America, was blamed on the exchange rate of dollars between the U.S. and China. To that end, the report adds that the picture changes for the better when receipts of movie tickets are added up in local currencies of the various international markerts. All told, box office movies made a combined $38.6 billion in 2016. Also of interest in the revenue department, the report adds that an average U.S. movie ticket cost $8.65 and total movie admissions here tallied 1.32 billion in 2016.

Unbdoubtedly, these are all immensely large figures and all help to reveal the fact that going to the movies remains a popular activity. With that in mind, production companies like Ivanhoe Pictures continue to work toward making quality films and television programs that entertain and enlighten audiences regardless of where they are shown. For more information on Ivanhoe Pictures, its filmography, and recent press coverage, visit ivanhoepictures.com.