Summer Movies Smash Record

Blockbusters boost studios to record-breaking sales
By Rob Quinn,  Newser Staff
Posted Aug 28, 2008 9:00 AM CDT
In this image released by Paramount Pictures, Jessica Alba, left, Mike Myers, center, and Manu Narayan star in the comedy "The Love Guru," one of the summer's box-office duds.    (AP Photo/Paramount Pictures, George Kraychyk)
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(Newser) – Hollywood studios are reeling in their highest-grossing summer ever, the Los Angeles Times reports. Domestic ticket sales stand at $3.9 billion, up from last year's record-breaking summer. A steady stream of smash hits—and higher ticket prices—accounted for the record take, more than making up for costly flops like Speed Racer.

Paramount racked up the most among the studios, with Iron Man, Kung Fu Panda, and Indiana Jones and the Kingdom of the Crystal Skull each raking in more than $200 million. Warner Brothers only made second place, despite The Dark Knight becoming the second-highest grossing film in history.