The Burning Issue #3 - The True Box Office King???
If Avatar takes home the Best Picture award tonight it will have gone some way to replicating the success of James Camerons previous narrative film Titanic. Both broke records at the Box Office and had phenomenal drop percentages during their weeks in the charts and both have used their mainstream appeal to capitalise on critical success. After all it cant be too big a coincidence that if Avatar wins best picture 2010 it will be one of only eight films (including Titanic) that have managed to win without being nominated for their screenplay. It is actually quite absurd when you think about it a film winning best picture that cant even get a screenplay nomination especially when the award features two separate hand-outs for original and adapted source material. When you consider that all the other best picture winners that fit into the unnominated screenplay categories were raging box office hits it highlights the importance of being a box office smash when it comes to being nominated or winning the top prize. Really the commercial success of a film and its critical standing shouldnt correlate but the Academy Awards are not the Cannes Film Festival and money does matter.
Anyway before I raise controversy by suggesting that spectacle films such as Avatar and Titanic belong solely in the technical categories at important awards ceremonies (L.A. Confidentials loss is still a sore point I must admit) it is time to focus on todays Burning Issue which examines which cinematic release is really the most successful of all time. Now Avatar has recently become the highest grossing US Domestic release of all time and most casual films fans thus probably assume that it is the most profitable movie ever made. This is however far from the truth and one of the reasons why the adjusted gross charts annoys me. Either use the adjusted gross system to document the weekly charts or get rid of it altogether and measure each week on ticket sales rather than profits made. After all no-one is out there calculating how much money Michael Jackson's album Thriller made, we just know that it sold around 50 million copies and is therefore indisputably the best selling record of all time. Hence one of the reasons why I found the hype surrounding Avatar chasing Titanic in the Box Office Records quite irritating is because it was a chase surrounding meaningless dollars. The highest grossing slogan is a marketing term which actually says very little in terms of detailed economic analysis. The fact that the box office charts are measured on gross complicates the system when trying to find out the true worldwide no 1 film of all time because inflation is always changing in different ways in a number of different countries. Again if ticket sales were just calculated there wouldnt be this problem. That said then, I have had to base the statistics on the US Domestic Adjusted Scale. With this chart taken into account Avatars seven hundred and a half million dollars still only rounds out a top fifteen place on the American all time adjusted charts and it is very unlikely to get any further than the top ten by the time its run its finished. Therefore on a domestic scale at least it is a long way off being the most profitable film of all time. To give you a quick example of how much the ticket sales have changed then put these following statistics into perspective. In 1997, at the time of Titanic's release it would have cost cinemagoers on average $4.59 to buy a ticket in comparison to todays average which is around $7.50 a big difference indeed. When these stats are weighed in Avatar is some 250-300 million dollars behind Cameron's previous record breaking behemoth. Not that Titanic is particularly close to being number one either. There are actually five films ahead of the 1997 best picture winner on the adjusted scale which include from fifth place to first: The Ten Commandments, Extra Terrestrial, The Sound of Music, Star Wars and Gone With the Wind. Three of those films however featured multiple theatrical releases which enabled them to make further profit from both nostalgia and from a renewed interest amongst the modern audiences of the time. Gone With the Wind for example has been re-released in the USA on no less than seven occasions though it is interesting to note that on its original release it made almost twenty times the amount of its nearest box office rival The Wizard of Ozon US Theatrical Rentals. This is an amazing statistic even if you reflect on the fact that there were nowhere near as many cinematic releases during this time period.
Anyway before I raise controversy by suggesting that spectacle films such as Avatar and Titanic belong solely in the technical categories at important awards ceremonies (L.A. Confidentials loss is still a sore point I must admit) it is time to focus on todays Burning Issue which examines which cinematic release is really the most successful of all time. Now Avatar has recently become the highest grossing US Domestic release of all time and most casual films fans thus probably assume that it is the most profitable movie ever made. This is however far from the truth and one of the reasons why the adjusted gross charts annoys me. Either use the adjusted gross system to document the weekly charts or get rid of it altogether and measure each week on ticket sales rather than profits made. After all no-one is out there calculating how much money Michael Jackson's album Thriller made, we just know that it sold around 50 million copies and is therefore indisputably the best selling record of all time. Hence one of the reasons why I found the hype surrounding Avatar chasing Titanic in the Box Office Records quite irritating is because it was a chase surrounding meaningless dollars. The highest grossing slogan is a marketing term which actually says very little in terms of detailed economic analysis. The fact that the box office charts are measured on gross complicates the system when trying to find out the true worldwide no 1 film of all time because inflation is always changing in different ways in a number of different countries. Again if ticket sales were just calculated there wouldnt be this problem. That said then, I have had to base the statistics on the US Domestic Adjusted Scale. With this chart taken into account Avatars seven hundred and a half million dollars still only rounds out a top fifteen place on the American all time adjusted charts and it is very unlikely to get any further than the top ten by the time its run its finished. Therefore on a domestic scale at least it is a long way off being the most profitable film of all time. To give you a quick example of how much the ticket sales have changed then put these following statistics into perspective. In 1997, at the time of Titanic's release it would have cost cinemagoers on average $4.59 to buy a ticket in comparison to todays average which is around $7.50 a big difference indeed. When these stats are weighed in Avatar is some 250-300 million dollars behind Cameron's previous record breaking behemoth. Not that Titanic is particularly close to being number one either. There are actually five films ahead of the 1997 best picture winner on the adjusted scale which include from fifth place to first: The Ten Commandments, Extra Terrestrial, The Sound of Music, Star Wars and Gone With the Wind. Three of those films however featured multiple theatrical releases which enabled them to make further profit from both nostalgia and from a renewed interest amongst the modern audiences of the time. Gone With the Wind for example has been re-released in the USA on no less than seven occasions though it is interesting to note that on its original release it made almost twenty times the amount of its nearest box office rival The Wizard of Ozon US Theatrical Rentals. This is an amazing statistic even if you reflect on the fact that there were nowhere near as many cinematic releases during this time period. 