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Hollywood Box Office Trends Upwards

HOLLYWOOD (CelebrityAccess MediaWire) — After a grim year in 2005 with box office business at movie theaters remaining dismal for the third year in a row, there's some good news.

According to the annual 'State of the Biz' report issued by the Motion Picture Association, 2006 finally saw a rebound in box office receipts with a 5.5% increase in revenues with an increase in revenue of 9.49 billion, up from 8.99 billion.

Last year saw 1.45 billion tickets sold, 63 films grossed more than 50 million, including "Pirates of the Caribbean: Dead Man's Chest" which broke the 400 million mark and the overall number of movies released hit an all-time high last year with total releases hitting 607 in 2006, as compared to 549 in 2005.

"Last year film audiences around the world demonstrated through strong ticket sales that they love going to the movies," said Dan Glickman, Chairman and CEO of the MPAA. "Technologies are emerging at a fast pace challenging our industry – filmmakers and exhibitors alike – to work harder and smarter to keep moviegoers coming back for more and I think we are well on our way." – CelebrityAccess Staff Writers