Movie ticket sales hit 16-year low

@CNNMoney December 29, 2011: 3:03 PM ET

NEW YORK (CNNMoney) -- The curtain is falling on the worst year for Hollywood in recent memory.

The movie industry sold 1.28 billion tickets in North America in 2011, according to, the lowest since 1995. That was good for $10.2 billion in box office revenue, down 3.5% from last year.

Analysts said the disappointing results came from a combination of a weak economy and expanding home entertainment options.

"Consumers are still trying to repair their balance sheets," said Miller Tabak analyst David Joyce. "It's not so much the titles."

Spiking ticket prices have also played a role, said Paul Dergarabedian of Average ticket prices have risen over 80% since 1995, and have jumped from $6.88 to $7.96 in just the past four years.

Louis C.K. tops $1 million in sales of comedy special

"With the overpricing that we've seen in the past couple years, when that happens in a recession, moviegoers reevaluate," Dergarabedian said.

In addition, the burgeoning entertainment available online and through services like Netflix (NFLX) has created "an extraordinarily competitive landscape when it comes to media and technology," he added.

Harry Potter and the Deathly Hallows Part II ranked as the highest-grossing film in North America this year, raking in over $381 million, followed by Transformers: Dark of the Moon and Twilight: Breaking DawnTo top of page

Overnight Avg Rate Latest Change Last Week
30 yr fixed4.38%4.39%
15 yr fixed3.81%3.82%
5/1 ARM4.06%4.08%
30 yr refi4.39%4.39%
15 yr refi3.80%3.81%
Rate data provided
View rates in your area
Find personalized rates:
Economic Calendar
Latest ReportNext Update
Home pricesAug 28
Consumer confidenceAug 28
GDPAug 29
Manufacturing (ISM)Sept 4
JobsSept 7
Inflation (CPI)Sept 14
Retail sales Sept 14
  • -->