2012 was a good year for the movie business, as worldwide spending on films grew 2%, or $1.3 billion, to $62.4 billion, a report released this week said.
The increase comes after a modest uptick of .9% in 2011 and declines in 2008 and 2009, according to research firm IHS. Data from 2010 was not immediately available. Over the next four years, IHS expects growth in movie spending to continue growing 2% to 3%.
Cinemas and the Asia-Pacific region were the two biggest contributors to last year's growth. Movie spending in China, which is in the midst of a theater-building binge, along with Japan, India and other nearby countries, grew 12% last year to $10 billion.
By 2016, the region should be No. 2 in the world behind North America, IHS predicted. It is currently No. 3 behind Western Europe.