Source: The Hollywood Reporter
Showbiz Output: $33 Billion In '99
Worldwide movie distribution income in 1999 grew 8 percent from the previous year to reach $33.4 billion, according to a new estimate by investment bank Schroder & Co. A wide-ranging 400-page report on international media and entertainment industries compiled by Schroder and Wilofsky Gruen Associates also forecasted worldwide film revenue to rise to $44.6 billion by 2003 - at a healthy 7.7 percent annual growth rate. The extent of Hollywood's dominance of the international movie business was underlined by Schroder's estimate that U.S. films garnered almost 90 percent of worldwide film distribution revenue in 1999, drawing income of $29.8 billion compared with $2.25 billion for European films and $1.33 billion for Japanese product.