NEW YORK (MainStreet) Although largely unrealistic in their presentation, Hollywood studio films about retirement are on the rise as Baby Boomers turn 65 at the rate of 10,000 per day.
"We think there's a good opportunity to do films that Hollywood has neglected," said Clarius Entertainment's William Sadleir, who has a line up of retirement films in development. "There's a lot of Boomers who do and will go see a film if Hollywood movie studios make movies for them."
"The Bucket List" grossed nearly $93.5 million domestically in 2007, while "The Best Exotic Marigold Hotel" grossed more than $46 million in 2012, according to BoxOfficeMojo.com, proving that aging Boomers still buy movie tickets despite the likelihood of being on a budget.
"Older audiences don't go out on opening weekend necessarily," Sadleir told MainStreet. "They wait for word of mouth and are careful with their expenditures."
Some 11% of the U.S. population goes to the cinema once a month, and movie-goers over 40 years old represent 3.3% of that share, according to Clarius Entertainment data.
"It's a small but big enough market to pursue," said Sadleir, who is releasing a film called "And So It Goes" in theaters nationwide on July 25. "We put our own capital together and are focused primarily on marketing and distribution in North America."
In the Rob Reiner-directed film, an aging real estate agent played by Michael Douglas struggles to sell one last home before retiring from the rat race until his troubled adult son drops off a surprise in the form of a 9-year-old grand daughter. His neighbor, played by Diane Keaton, helps the crotchety old man adjust to the little girl's presence.
"Everybody can relate to this idea that there's one great romance left to be had or that selling your home is closing a chapter in your life," Sadleir said.