Hollywood Reporter: The Grinch Has Stolen Christmas

The Hollywood Reporter has given 2011 up to the Grinch, despite a strong opening for Mission Impossible: Ghost Protocol, closing a stretch of weak box office performances for big budget productions.

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From the article:

Hopes are dimming that Hollywood can completely close the gap in domestic box office revenues by the New Year, even though the long Christmas weekend should best last year…

With 2012 fast approaching, Hollywood is now reisgned to the fact that it probably won’t be able to close the gap in domestic box office revenues, even as international grosses surge. One veteran studio executive believes domestic revenues will come in at $10.1 billion, a 3 percent dip from 2010.

Ironically, the year finished strong, with Christmas box office receipts expected to beat 2010’s totals by 3 percent.

Still, the weak overall results for 2011 may prompt several studios to re-examine their business models and could significantly alter future production decisions.

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