Movie Industry on a Roll

Nearly 30 films took in more than $100 million each last year as the movie industry recorded its best box office year ever, reports the Wall Street Journal. The writers' strike, rising costs, and a spate of so-so releases at the end of the year put a damper on an otherwise outstanding 2007 that saw the industry earn $26.7 billion. 

While admissions remained steady at 1.4 billion, increased ticket prices and $100-million grossing films helped offset the rising costs of movie projects, which rose 6.3% to $106.6 million per project. Even mini-studios, which bring niche titles to the market—the ones that routinely win Academy Awards—saw cost increases to $74.8 million, up more than 53% from 2006. (More box office stories.)