Best of times in film industry follows the worst of times in economy where escapism is king

By Jeffrey Jolson

Avatars Saldana and Worthington aim for bullseye on Dec 18

HOLLYWOOD, CA (Hollywood Today) Crisis, what crisis? The worst year in US economy in 70 years is the best for the film biz, proving the adage that the entertainment industry is fairly recession-proof and that in tough times, folks are still willing to pay for a bit of escapism.

It’s not a nickel for a double-feature like in the Great Depression, but $12 or so for a ticket, yet domestic ducat sales are up 8 percent from 2008’s record year of $9.6 billion and will pass that before the coming weekend.

And with all the Christmas 2009 blockbusters still on the horizon such as “Avatar,” “Sherlock Holmes” and “Inviticus,” the year will snowball over the highest-ever domestic gross mark. St. Nick’s Day will be merry in Hollywood with actors on the holiday screens like Depp, Clooney, DeNiro, Damon, Wahlberg, Downey Jr., Day-Lewis, Ledger (posthumous), Grant, Streep, Maguire, Portman and more.

And since DVD/Blu-ray can equal US B.O. and overseas theatrical can triple that number, US orignated films may see $40-$50 billion in revenues. The bonuses for film execs will be earned, unlike those for executives with failing banks or insurance companies.

Admissions also are running ahead of 2008 levels by more than 3% according to Variety, who credits the boom to diversity of film choices. HT agrees with that, but since our readers earn less than Variety’s we know they just want a few hours away from bills and filled with action, romance, suspense or drama (somebody else’s).

The five films to pass the $100M milestone so far are Summit’s “New Moon” ($231M), Sony’s “2012″ ($139M), Universal’s “Couples Retreat” ($107M), “Disney’s A Christmas Carol” ($105M) and Warner Bros.’ “The Blind Side” ($102M).