Huge Summer for Hollywood, but With Few Blockbusters

The Lone Ranger,â with Armie Hammer, Johnny Depp and Helena Bonham Carter, was the summer's top bomb. Disney expects a write-down of $160 million to $190 million on the film.
LOS ANGELES - Here in Hollywood, the land of false-front movie sets and business-has-never-been-better studio spin doctors, summer ticket sales are being summed up with a single word: blockbuster.

âTurboâ the animated snail was squished, taking in $80 million at North American theaters - one of the smallest totals in DreamWorks Animation history.
Ticket revenue in North America for the period between the first weekend in May and Labor Day totaled $4.71 billion, a 10.2 percent increase over the same period last year, according to analyst projections. Attendance rose 6.6 percent, to about 573 million. Higher ticket prices contributed to the rest of the growth.
But behind that rosy picture lurk some darker realities.
Ticket sales rose in part because Hollywood crammed an unusually large number of big-budget movies into the summer, a period that typically accounts for 40 percent of box office revenue. Studios released 23 films that cost $75 million and up (sometimes way up), 53 percent more than in the same period last year.
The audience fragmented as a result, leaving films like âThe Wolverineâ and âThe Hangover Part IIIâ wobbling when they should have been slam dunks.
âTurboâ the animated snail was squished, taking in $80 million at North American theaters - one of the smallest totals in DreamWorks Animation history. (Only the unfortunately titled âFlushed Awayâ from 2006 did worse.)
âWe're very pleased with the overall strength of the summer,â said John Fithian, president of the National Association of Theater Owners, âbut there was almost too much product. Some of these individual movies would have made more money if studios had spread them out a little more.â
Mr. Fithian noted that the $4.71 billion in total summer ticket sales represents a new high-water mark for the industry, not accounting for inflation, and the growth comes after several years of largely flat sales or declines.
It is not surprising that more films sold more overall tickets, but the total does demonstrate a resilience for cinema as competition for consumer attention continues to spike.
âTo keep the exhibition business alive, we have to give people a darn good reason to put down all their electronics and get in their cars and get into theaters, and this summer we did it,â said Nikki Rocco, president of distribution at Universal Pictures, which printed money with âDespicable Me 2â and âFast & Furious 6,â both of which took in roughly $800 million worldwide.
Still, appearances can be deceiving. âPacific Rim,â for instance, has taken in more than $400 million worldwide - no small feat. The picture's price tag, however, made it an everyone-or-nothing enterprise. Legendary Entertainment and Warner Brothers spent about $330 million to make and market the film, which could end its run in the red since theater owners take roughly 50 percent of ticket revenue.
With the notable exception of Paramount, which released just two films, âStar Trek Into Darknessâ and the surprisingly successful âWorld War Z,â every studio suffered at least one major dud. In many cases, big hits were offset by big flops.
Disney, for instance, had the summer's No. 1 movie in âIron Man 3,â which took in $408.6 million in North America, for a global total of $1.2 billion. Disney's Pixar also scored with âMonsters University,â a prequel that generated more than $700 million in global ticket sales.
But Disney also had the summer's No. 1 box office bomb: âThe Lone Ranger,â which cost at least $375 million to make and market, and has taken in about $232 million worldwide. After theater owners take their cut, Disney is looking at a write-down of $160 million to $190 million on the film.
Higher-priced 3-D tickets took another tumble, at least in the United States and Canada, as more consumers decided the visual gimmick was not worth paying a $2 to $5 premium per ticket. Family films fared the worst - those glasses don't fit little faces very well - with âTurboâ setting a new industry low for the format, according to analysts: 3-D screenings accounted for only 25 percent of its opening-weekend results. (Last summer's low was 35 percent.)
