Best Hollywood Summer Ever?

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Aug. 30 (Bloomberg) –- Hollywood.com President: Box-Office Division Paul Dergarabedian discusses how Hollywood beat the record set at the box office in the summer of 2011, despite numerous flops. He speaks with Trish Regan and Adam Johnson on Bloomberg Television’s “Street Smart.” (Source: Bloomberg)

The total box office take set a new record.

What is going on?

Let's bring in our friend, president of hollywood box office.com.

Always great to have you here.

How did hollywood managed to pull a rabbit out of the hat?

The hits outweighed the m isses.

It is pretty amazing considering all of that data.

We will hit $4.7 billion through labor day and that is a brand- new record.

The summer season is vitally important to hollywood.

40%. it is the most important moviegoing season of the year.

It counts for a lot.

All eyes were on the summer box office this year on and for good reason.

For every one of those, there was a big film and a block oster that did beyond expectation in terms of the box office.

At the end of the day, hollywood would rather have an uptrend and box office and a few high- profile flops than the other way around.

I want to hear about new releases.

One direction.

I will be the first in line for that one.

They are pretty talented.

They have to sing live.

You have little girls.

You can actually go see them.

If i walked into that -- i think it will do really well.

These guys are laughing all the way to the bank.

They have one direction on their sony label.

They have one direction coming out on sony pictures this weekend.

And then they tested out this new sony camera during the shooting of this movie.

You have the hardware, the software, the record label, the movie label altogether.

We are looking at the potential revenue close to $20 million.

The track record of these concert documentary films is sort of mixed, but the miley cyrus best of both worlds concert in 3-d -- i need halfing spray to get that one out.

-- caffeine spray to get that one out.

The miley cyrus movie set the tone for this when it earned $38 million in 638 hitters in its opening weekend back in 2008. -- 638 million dollars in theaters in its opening weekend back in 2000 and eight.

It is a mixed bag.

You have to strike when the iron is hot.

This young teenage audience is ready fiscal.

It is all about timing.

You have a chart case -- you have a car chase movie on the way, too.

Bullets was the original classic car chase.

And then there was a movie called drive with ryan gosling.

And now we have get away.

He has his indie film, his major studio releases, ethan hawke, one of my favorite actors.

This is a fun end of summer

This text has been automatically generated. It may not be 100% accurate.

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