Global spending on movies increased 2 percent in 2012, report says
LOS ANGELES — The year just ended was a good one for the movie business, as worldwide spending on films in 2012 grew 2 percent, or $1.3 billion, to $62.4 billion, a report released this week said.
The increase comes after a modest uptick of 0.9 percent in 2011 and declines in 2008 and 2009, according to research firm IHS. Data from 2010 was not immediately available. Over the next four years, IHS expects movie spending to continue growing 2 percent to 3 percent.
Cinemas and the Asia-Pacific region were the two biggest contributors to last year’s growth. Movie spending in China, which is in the midst of a theater-building binge, along with Japan, India and other nearby countries, grew 12 percent last year to $10 billion.