Hollywood remains a hot global commodity, according to a new industry report.
Global movie ticket sales soared to new heights last year, climbing 6% to $34.7 billion, fueled mainly by growth in international box office revenue, according to a report by the Motion Picture Assn. of America, the chief lobbying arm for the major studios.
International ticket sales reached $23.9 billion, up 6% compared to 2011 and up 32% over five years ago, driven by growth in Russia, Brazil, and China, which last year surpassed Japan as the world's largest international box office market for movies, the MPAA said in its annual survey of the industry.
China had $2.7 billion in movie ticket sales last year, while Japan had $2.4 billion. The U.K., the third-largest international market, sold $1.7 billion in tickets.