Wednesday, August 3, 2011
Weak Dollar Helping Hollywood?
I just got back from Germany, and the one thing I noticed is that everything was more expensive for me as an American this year - In April the dollar hit a three year low. It is being said that the weakened U.S. Dollar is allowing for a boisterous international box office, especially in the UK and the rest of Europe. Although as prosperous at it may seem, the situation also causes for frustration for domestic TV and film producers who develop projects and watch the fluctuations in the market. Taking a small film project abroad let alone a tentpole like "The Hobbit" creates issues for the producers who have to pay out foreign talent both above and below the line. The rate is about 1.42 (Dollar) on average to 1.00 (Euro). Highlights although may also span for international distributors and exhibitors who want to buy domestic product and realize that they are saving money.