(Bloomberg) -- Hollywood's reliance on escalating movie-ticket prices has helped bolster box-office sales for decades.
But last year told a different tale: Attendance, rather than price inflation, was the biggest force in helping set a box-office record of $11.9 billion in revenue.
Theaters sold 1.3 billion tickets in the U.S. last year, according to data released by the National Association of Theatre Owners on Wednesday. That was up more than 5 percent from the previous year, eclipsing the 1.6 percent increase for ticket prices.
Ground-breaking movies such as “Black Panther,” the first superhero movie nominated for a best picture Oscar, helped coax more Americans into theaters.
Still, the long-term trends remain troubling. Attendance peaked back in 2002, according to the theater association's data. And even 2018's growth didn't entirely wipe out the decline experienced in 2017.
Plenty of dark clouds still loom over cinema chains. A Netflix Inc. movie, “Roma,” was nominated for best picture for the first time. And Walt Disney Co.'s takeover of Fox's movie operations may mean theaters have less clout when they're negotiating with studios.
On the bright side for consumers: They're spending less of their budget on tickets.
A typical movie ticket cost $9.11 in the U.S. last year, compared with $2.34 in 1978, according to the association. But on an inflation-adjusted basis, tickets 40 years ago would be $9.41 -- more than they cost today.
To contact the reporter on this story: Anousha Sakoui in Los Angeles at asakoui@bloomberg.net
To contact the editors responsible for this story: Nick Turner at nturner7@bloomberg.net, Cecile Daurat
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