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Eyes on Avatar as an industry seeks renewal

By December 14, 2009Newswires

Eyes on Avatar as an industry seeks renewal
by Matthew Garrahan

The stars were out in London last week for the global premiere of Avatar , the most hotly anticipated movie of the year, which opens worldwide on Friday.

The film, the latest from James Cameron, who directed the first two

Terminator movies, has been more than 10 years in the making and is among the most expensive produced with a budget, including marketing, of about $425m.

Yet if it were to perform well, it could herald a new era for Hollywood, providing a fillip to an industry battered by slumping home entertainment revenues and the decline of the DVD format.

Avatar is the first big-budget live-action release to be shot in 3D, which many in the industry are betting represents the future of filmmaking.

Such 3D films tend to perform better at the box office because exhibitors and cinema chains can charge a premium price.

Thanks to a new generation of glasses and projection systems, audiences have, to date, been willing to pay more for the 3D experience.

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