News

Majors upbeat on summer prospects

    April 30, 2008 – Hollywood’s major studios talk optimistically about prospects for box office this peak summer season to match or surpass the $4.18 billion last year, according to a Los Angeles Times article. “Moviegoing historically has proved more than resistant to downturns -- theater attendance actually increased during three of the last four recessions,” says the article by John Horn. “And this year, Hollywood hopes the downturn could kindle a near record-breaking May-to-September season.”
    The article notes, “When Iron Man starts playing Thursday night, the box office doldrums are likely to vanish. Rival studios and box office prognosticators say the comic-book adaptation could gross more than $80 million in its first weekend. Indiana Jones and the Kingdom of the Crystal Skull, which audience surveys show has astonishingly strong interest among children, probably will sell substantially more tickets when it opens May 22.”

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www.latimes.com/entertainment/news/business/la-et-summer30apr30,1,4402785.story