A Truly Global Cinema
The true worth of a film is no longer decided by the crowd that assembles in an American city. It is decided by youngsters in countries such as Russia, China and Brazil.
Sign up for The Nightcrawler Newsletter
A weekly collection of thought-provoking articles on tech, innovation, and long-term investing from Nightview Capital’s Eric Markowitz.
Hollywood has always been an international business, but it is becoming dramatically more so. In the past decade total box-office spending has risen by about one-third in North America while more than doubling elsewhere (see chart). Thanks to Harry Potter, Sherlock Holmes and “Inception”, Warner Bros made $2.93 billion outside North America last year, smashing the studio’s previous record of $2.24 billion. Falling DVD sales in America, by far the world’s biggest home-entertainment market, mean Hollywood is even more dependent on foreign punters.
