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WSJ: Can 3-D save H'wood?
March 20, 2009 – Movie theaters are betting that 3-D cinema projection is not a fad, and one independent analyst estimates that it will lift box office 23% by 2011 over 2008, according to a lengthy Wall Street Journal article. The lift estimate came from investment bank Piper Jaffray.
The article by Lauren A.E. Schuker cites estimates there are 2,000 3-D enabled screens out of 43,000 in the U.S. and Canada that give audiences images with a sense of depth perception. Animated family film Monsters vs. Aliens will be on virtually all those screens when it premieres March 27, in bookings arranged by DreamWorks, whose boss Jeffrey Katzenberg is perhaps Hollywood’s biggest 3-D proponent.
Theaters are mostly on-board too, because 3-D tickets are $2-4 above prices for regular screens. Katzenberg told stock analysts that a $5 premium is possible on Monsters, but most theaters are not expected to be that aggressive, according to the WSJ article.
There are cautions too. Some theaters are not completely sold that 3-D will be a long term trend, because an earlier 3-D technology in the 1950s turned out to be a short-term fad. However, theaters are finding economics compelling for fast payback – given 45 3-D films are in Hollywood’s pipeline for the next three years—so they are setting aside concerns because they think they’ll recoup equipment costs quickly. Film companies spend millions of additional dollars to produce a film in 3-D, so they are selective.
Another concern is bad 3-D films – like Beowulf that was a disappointment to many moviegoers – will cool audience ardor.
3-D installations are possibly only on digital projection screens, which require a $75,000 hardware investment and replace film/mechanical projectors.
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online.wsj.com/article/SB123751033980990723.html
Disney's Bolt was in 3-D, but only a middling BO performer