LOS ANGELES: Early estimates indicate a steep drop-off in box office revenue outside the US immediately following the earthquake and tsunami in Japan. The country is one of Hollywood's biggest international markets, although industry analysts say the disaster's long-term financial impact on movie studios should be limited. Box office revenue in Japan plunged about 41 percent last weekend, compared with the prior weekend, according to data from Rentrak Corp. In the US, the decline over the same time period was about 3 percent. Japan is a major market for Hollywood, which looks to international ticket sales to help recoup the costs of producing films. US box office revenue was about $10.6 billion in 2010, while international box office revenue was $17.6 billion. “Japan is a vitally important part of the international box office,” said Paul Gergarabedian, president of the box-office division of the tracking service Hollywood.com. “No question about it that the impact has already been felt.” According to Rentrak data, Japan box office revenue for “The King's Speech” sank 72 percent. It was the first weekend for “Tangled,” which brought in $1.7 million.
