Indie boxoffice down 12% in 2007
Number of releases up, but fewer earn big paydaysThese are sobering times for the independent film industry. Boxoffice revenue for films from indie distributors and specialty divisions dropped 11.9% from $1.32 billion in 2006 to $1.16 billion in 2007, while the number of indies in theaters increased from 501 to 530.
Even more disturbing, only 16 of the films grossed more than $20 million (nearly half of them by a slim margin), down from 20 in 2006.
The biggest story of 2007 might be that 350 indie films -- two-thirds of the list -- failed to reach even $250,000 in ticket sales, an increase from 313 in 2006. All this at a time when overall 2007 domestic boxoffice hit a record high of $9.62 billion, a 5% increase from 2006, according to Nielsen EDI. Read more
Indie distributor boxoffice wraps:
Sony Pictures Classics
Warner Independent Pictures
The Weinstein Co.
Yari Film Group