Watch CBS News

Hollywood Leaders Say Weak Movie Business Will Rebound

LAS VEGAS (AP) — Hollywood is in a tailspin at the box office, but industry leaders say business will bounce back soon enough.

John Fithian, who heads the National Association of Theatre Owners, and Chris Dodd, new chief of the Motion Picture Association of America, offered reassurances Tuesday that the business was simply going through a cyclical downturn.

Few recent movies have grabbed people's interest, Fithian said at CinemaCon, a Las Vegas convention for theater owners.

Hollywood had an unusually strong first quarter last year because of "Avatar" and a few other early hits, but revenues are down about 19 percent so far this year compared to 2010.

At CinemaCon, studios are showcasing a strong lineup of summer and holiday films, and some predict Hollywood will rebound with record revenue for the year.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)


View CBS News In
CBS News App Open
Chrome Safari Continue
Be the first to know
Get browser notifications for breaking news, live events, and exclusive reporting.