Since its inception, the American film industry has reigned supreme in popularity throughout the world. Moviegoers and cinephiles alike have become enamored with the allure of ‘Hollywood’, known as the mecca of the entertainment industry. As one of the oldest film industries, the US has produced major films such as Star Wars (1977), Titanic (1997), and Avatar (2009). In addition, iconic American actors such as Elvis Presley and Marilyn Monroe rose to worldwide stardom. Its popularity, through successful films and prominent figures, has allowed the industry to create an international platform, from which the US can see continued success for decades to come. In this section, we will analyze the US film industry according to its market success,
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From 2004 to 2013, the US film industry has declined in terms of gross revenue from cinemas, despite ticket prices increasing from $6.21 in 2004 to $8.13 in 2013, a 31% increase. The increased popularity of piracy and the ease to by which films can be viewed for free has acted as a major cause of reduced revenue. Piracy brings the movie to one’s home screen for no cost and has become a major challenge to the US film industry. According to the Motion Picture Association of America, the box office revenue in 2014 dropped 4% from $10.9 Billion in 2013 to $10.4 Billion. Alternatively, IBISworld states the incremental cinema price does not have positive correlation to the decreasing box office revenues. IBISworld argues that the dawn of the internet has brought the public more options to access entertainment than the traditional movie …show more content…
It is at the forefront of creativity, marketing and technology, allowing films to be displayed in ways never seen before. The US market itself may seem to be falling due to increased piracy, but the foundation is strong due to just how important film entertainment is to its population. Outside of America’s borders, the US film industry is expanding its reach globally and seeks to capture more foreign markets. Its technology especially, through better quality cameras, filming techniques, and post-filming operations make the US stand ahead of foreign industries. The cultural appeal of America along with the quality of the product, will continue to allow for US film dominance for decades to
From 2004 to 2013, the US film industry has declined in terms of gross revenue from cinemas, despite ticket prices increasing from $6.21 in 2004 to $8.13 in 2013, a 31% increase. The increased popularity of piracy and the ease to by which films can be viewed for free has acted as a major cause of reduced revenue. Piracy brings the movie to one’s home screen for no cost and has become a major challenge to the US film industry. According to the Motion Picture Association of America, the box office revenue in 2014 dropped 4% from $10.9 Billion in 2013 to $10.4 Billion. Alternatively, IBISworld states the incremental cinema price does not have positive correlation to the decreasing box office revenues. IBISworld argues that the dawn of the internet has brought the public more options to access entertainment than the traditional movie …show more content…
It is at the forefront of creativity, marketing and technology, allowing films to be displayed in ways never seen before. The US market itself may seem to be falling due to increased piracy, but the foundation is strong due to just how important film entertainment is to its population. Outside of America’s borders, the US film industry is expanding its reach globally and seeks to capture more foreign markets. Its technology especially, through better quality cameras, filming techniques, and post-filming operations make the US stand ahead of foreign industries. The cultural appeal of America along with the quality of the product, will continue to allow for US film dominance for decades to