European movies gross “all-time high” €3.092 billion in 2014

PanARMENIAN.Net -

Driven by U.S. revenues, China, Luc Besson’s “Lucy” and the best result on record books in Europe, European movies grossed €3.092 billion ($3.373 billion) worldwide in 2014, very possibly an all-time high, according to a new report, from the European Audiovisual Observatory Report, “The Theatrical Market For European Films Outside Europe,” Variety reports.

That said, 2010-14 export results, “leaving the exceptionally good 2012 results aside, suggest a modest growth trend with admissions increasing from 61.o million in 2010 to 82 million in 2014,” Martin Kanzler, the report’s author, writes.

Theatrical box office outside Europe, the report’s main focus, was the second highest of the decade to date, at €496 million ($541 million), after a dramatic 2012, which saw €722 million ($788 million) in total take, when “Taken 2” powered European B.O. to €379 million ($413 million) Stateside.

Ramping up energetically – €12 million ($13.1 million) in 2010, €80.2 million ($87.5 million) last year, up from €53 million ($57.8 million) in 2013, China now represents Europe’s second biggest movie export market in terms of gross box office. China overhauling both Australia and South Korea in 2013.

The study underscores European movies’ U.S. paradox. They command a minimal market share – 2% in 2014; but the U.S. still remains by a large head the single biggest export territory in the world for Euro film fare, contributing €197.3 million ($215.2 million) in Euro movies’ theatrical B.O.. In gross box office terms, indeed, the U..S. and Canada account for nearly 45% of total non-European takings.

Australia, South Korea, Brazil and Mexico trail the U.S. and China as key export territories.

Grossing $464.4 million worldwide, $126.7 million in the U.S., and accounting for 38% of export B.O., per the EAO, Luc Besson’s “Lucy” smashed recent records for European exports. Lucy’s tix sales – 31.9 million tickets outside Europe -was the highest of any European film in the last five years, said Kanzler.