By Sarah Sluis
During the 3D Entertainment Summit, Henry Selick, director of Coraline, was frank about how the lack of 3D screens hurt his film. The picture made 85% of its revenue on 3D screens, managing to book 600 of 900 available screens, even though the movie released shortly after My Bloody Valentine 3D. It was then pulled out of many theatres three weeks later when Jonas Brothers: The 3D Concert Experience released. If there were a steady supply of 3D screens, the film could have done even better.
This year, the 3D screens, limited as they are, accounted for the overall increase in box-office revenue (fewer people went to the movies, but people paid more to see them in 3D). But there still aren't enough.
The big, ominous statistic is "average time of release on 3D screens." In 2008, the average time was 8.7 weeks. This year, it's down to 3.1. That's still feasible for many studios, since they do seven-eighths of their business in the first three weeks. But next year, it could sneak down to 1.8 weeks, severely cutting into the golden period.
Help, though delayed, in on its way. With Federal Reserve Chairman Ben Bernanke proclaiming that the recession is over, and more big banks able to open up their pocketbooks to lend money, theatres may finally receive the financing they need to install digital and 3D systems. Last Friday, JP Morgan announced that it was planning to lend $525 million over the next five years to the three largest circuits, which will help fund the transition. Thousands of screens should be converted.
For viewers, there's also a future in which films release exclusively in 3D, creating differences in pricing: imagine choosing between seeing a big animation or action blockbuster in 3D for $15, or a quieter 2D drama for $12. Will those three dollars be enough to sway people's choice of film? Or will they both be considered equally valuable for what they're offering? I think it's too soon to say exactly how viewers will respond, but it will be interesting when it gets to the point that almost everyone has seen a 3D movie. A few weeks ago, I overheard a conversation between a male and female moviegoer, roughly college age. The male was all about 3D, but the female was opposed to it, saying she would never see a 3D film because they were" gimmicky." Once a viewer like her is persuaded, I think 3D will have truly arrived.
Be sure to check Film Journal's Digital Cinema section for further updates on the transition to digital and 3D screens.
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