Summer Cinema Ticket Sales Fall to Lowest Since 1997
Box office ticket sales from the first weekend of May through the Labor Day holiday are expected to slip 2.6% to 552 million, Bloomberg News reported.
"The movies just didn't excite people the way they needed to," Paul Dergarabedian, president of Hollywood.com Box-Office, told Bloomberg News. "When you raise prices and perceive that quality goes down, you have a major problem."
Still, the ticket sales weren't bad news for everyone. Summer box office revenue actually rose, thanks to the higher price. Revenue is expected to gain 2.4% to $4.35 billion in the U.S. and Canada.
The average ticket price will rise 5.1% to $7.88. That's the biggest gain since 2000.
The advent of 3-D movies has raised average ticket prices, with theaters charging an extra $3 or more to see a 3-D showing of a movie such as "Toy Story 3."