The film industry is on course to defy the global recession by recording its best-ever 12 months at the box office, with an end-of-year surge led by James Cameron's Avatar and Guy Ritchie's Sherlock Holmes.
US box office receipts have already surpassed 2007, the previous best year, according to research by Hollywood.com. Hollywood has also benefited from growth in international markets that were once an afterthought. The Chinese box office is set to rise 40 per cent on the $630m generated in 2008 thanks to an appealing mix of films and the opening of new multiplexes. 2012 generated $62m in China in its first three weeks on release to become one of country's best-performing films this year.
US revenues to Sunday, December 6 were $9.7bn, up 8.4 per cent on the same point last year, fuelled by hits such as Transformers 2: Revenge of the Fallen, New Moon and 2012.