'Avatar' sinks 'Titanic' for all-time worldwide record

(All rights reserved)

James Cameron is "king of the world" again. The famous line from his previous blockbuster, Titanic, now applies to his latest film, Avatar, which is the highest grossing film of all-time. With Monday's ticket receipts, the science-fiction epic became the new worldwide box office champion, after hitting the top spot for six consecutive weeks.

Titanic's global box office record was historically held for 13 years, reaching $1.843 billion in 1997. Avatar's global box office is $1.842 billion, so far.

The box office figures for Avatar indicate the key role foreign box office has played in the success of the film, accounting for 70 percent of the film income. France leads the way with $124.8 million in box office sales, then Germany ($95.8 million), the UK ($93.2 million), South Korea ($79.7 million), Japan ($77.7 million), Australia ($77 million), and Spain ($76 million).

Avatar reached $1.29 billion in foreign receipts at 111 markets, making it the top international grossing film ever. Also, it is the biggest film of all time in China, Russia, Hong Kong, Chile, and India.

The impressive position doesn't take into account a couple key factors - inflation and the higher cost of 3D viewing. The 3D venues account for 80 percent of US box office and 65 percent overseas. Considering the film is a frontrunner for the Oscars, March 7, it should continue to break records over the coming weeks, and compensate for these factors.

RC