Figures have shown that 2012 was a record year for Hollywood with North America raking in $10.8 billion (£6.6 billion) in box office revenue and ticket sales increasing for the first time in three years.
Major releases such as 'The Avengers' and 'The Dark Knight Rises' are thought to have contributed to the year's record sales. The latest instalment in the in the James Bond franchise 'Skyfall' has also boosted box office sales, closing in on the $1 billion mark across the world.
This year also saw the release of other successful blockbusters including 'The Hunger Games' and the final movie in the Twilight series 'Breaking Dawn - Part Two'.
Studio executives are already claiming the latest figures could signal a turnaround for the industry which has been hit by the popularity of DVDs and portable devices over recent years.
Paramount Pictures head of distribution Don Harris, commented: "It is a victory, ultimately. If we deliver the product as an industry that people want, they will want to get out there.
"Even though you can sit at home and watch something on your large screen in high-definition, people want to get out."
With new releases for 2013 including 'Iron Man 3', 'Star Trek', 'The Hunger Games - Catching Fire', and a new Superman movie 'Man of Steel', executives are confident next year could break the $11 billion mark.