Shrek Drives Cinema Revenues To Record Levels
The total number of cinema admissions soared by almost 50% year on year during July to a record 18.4 million, in what was the most successful month for the industry so far this year, according to the latest figures from the Cinema Advertising Association.
The figures are due mainly to the massive success of animated adventure sequel, Shrek 2. Released at the beginning of the month, the star studded film has pushed admissions up to mark the highest rating July for 35 years.
The CAA is already predicting a record breaking yearly total for 2004, with admissions for the year so far exceeding 100 million, up 12% on the same period last year. If the Association is correct in its estimate of a total of 180 million admissions, 2004 will score the biggest yearly audience for 33 years.
Shrek 2‘s success at the box office appears to have taken over where Harry Potter left off in June, attracting a huge number of families to the cinema and bolstering admissions figures. After taking the biggest ever opening weekend in the UK with a total of over £10.6 million, the monster-movie went on to take a huge £36.3 million throughout the month. It is now the highest grossing animated film of all time in the UK and has over taken the third Harry Potter film as the biggest movie of the year.
The return of Spiderman to cinema screens in the middle of July also boosted admissions, as the web-slinging sequel drew an older audience than Shrek 2, with an anticipated profile of nearly 60% of 15-34 year olds.
The outlook for cinema looks brighter than ever. At the end of June this year there were 3,461 cinema screens in the UK, the biggest number since 1958, while the proportion of screens that are multiplex has risen to 70%. The wider range and number of screens in Britain should, according to the CAA, ensure the continued release of diverse film products attracting an increasingly widespread audience.
Cinema advertising has proved less impressive in terms of breaking records, although this is mainly due to the high standards set throughout 2002 and 2003. The first quarter of 2004 saw a dip in revenue, losing £1 million year on year to 38 million.
Revenue for the second quarter is predicted to be approximately 10% down year on year, although the CAA claims that this is not unexpected, with events such as Euro 2004 diverting potential advertisers from cinema. The CAA predicts that revenue in the last half of 2004 will be considerably up year on year, with advertisers reaping the rewards of strong end of year film products.
CAA: 020 7534 6363
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