The Road to Recovery : Survey Finds Some Industries Rolling Along but Others Are Stalled : ENTERTAINMENT
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Hits, not economic indicators, are the lifeblood of the film and music industries. Domestic film box-office revenue is down only 1.3% through mid-June compared to the previous year, while the record business has continued to grow.
“The (film) industry as a whole has been down since Easter, but that’s due to the quality of the pictures,” said John Krier of Exhibitor Relations, which tracks box-office figures.
Indeed, Hollywood is optimistic about the future. Summer releases include several potential blockbusters, such as Warner Bros.’ “Robin Hood,” Disney’s “Rocketeer” and Tri-Star’s “Terminator 2.” And with cost-cutting efforts under way at several studios, observers say profits--which have been depressed in the first two quarters--may improve by the end of the year.
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