Box Office Grossed $14,600,000 it’s opening weekend $70,000,000 overall Rentals it made $32,500,000 Budget 14.6 million Filmed March 16-June 10, 1992 Released February 12, 1993 Groundhog Day was the #1 movie for two weeks
1990s Box office sales decreased in the early 90s due to the economic recession but increased by 1993. Average film ticket $4.25-5.00 Quality meant expensive special effects Chase scenes, high tech graphics Higher cost for celebrities, agency fees, production costs, promotional campaigns, CGI (computer generated images), threats of actor and writer strikes
The Digital Age 2/3 of households owned at least one VCR in 1991. Rentals and purchases of video tapes were higher in sales than movie theater tickets. Members of the Academy of Motion Pictures viewed Oscar-nominated films on videotape in 1994
Digital Development The home-video market became a major factor in total revenue for a film Doubled the total income for a film An important digital development was the DVD (digital versatile disc) Held 10 times more information than the CD DVD players outpaced VHS sales when they emerged in 1997. Many produced films went directly to DVD or cable without appearing in theaters.
Changes in the MajorStudios 1990 – Warner Communications and Time Inc. merged to form Time/Warner Largest communications merger to date Late 1990 – Japanese corporation Matsushita Industrial, Inc. acquired MCA/Universal for $6.1 billion. 1994 – Viacom bought Paramount Pictures Disney became the first studio to gross $1 billion at the box office
International Even after Groundhog Day was released in the United States, it continued to be released overseas a year later. Argentina, Sweden, Australia, Germany, Finland, UK, Denmark, Spain, Netherlands (1994)