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Fuzzy Picture in Movie Biz

0423 ESPRESSO SpielbergExcellent piece from our esteemed colleague, Lauren Horwitch, on the effects of the production slowdown in the film industry. As has been reported previously, things are so bad, even Steven Spielberg has struggled to get financing.

According to IMDBpro.com, Horwitch reports, only 35 films are in production or have been shot since January, an 8.7 percent drop from last year, "which was already low because of last year’s writer’s strike."

At the same time, however, the movie industry is "headed toward its first $10 billion year at the box office," Bloomberg reports. Much the success is due to shifting the normal slate of summer films into the first quarter.

"The result is the fastest growth since 2002, according to Box Office Mojo, which puts this year’s gain at 14 percent. Films such as Monsters vs. Aliens are convincing studios the first quarter has more revenue potential, and may explain why ticket sales are increasing when U.S. joblessness is at a 25- year high."

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