BoomTown is back from a lovely holiday vacation and am gearing up for the Consumer Electronics Show, which starts later this week in Las Vegas, but I have been struck by the $1 billion-plus haul that tech-heavy “Avatar” has brought in over that time.

Does this mean movies in theaters are holding their own against online incursions?

It would seem so, according to box office reports for the year. Tallies for the U.S. alone were up 10 percent to close to $10 billion for 2009.

Or is there trouble behind this success, since another key revenue stream is weakening?

According to a report in The Wall Street Journal today:

Last year was the first since 2002 that U.S. consumers spent more money buying movie tickets than buying movies to watch at home, underscoring the changing economics of Hollywood…

The figures indicate that studios will likely have to continue looking for ways to survive in a marketplace where they can’t count on hefty home-entertainment revenue to offset giant production costs. Those costs often more than eat up the studios’ half of the box-office receipts, which are split with theaters.

The ongoing decline in home-entertainment revenue has already fundamentally altered the way studios do business, forcing them to place big financial bets on hoped-for mass-market blockbusters at the expense of features that cost less to make but that also have smaller earnings potential.

Since online movie purchases and rentals are nowhere close in terms of revenue (see chart below), declining DVD sales could be a worrisome trend for Hollywood.

We’ll see what happens in 2010. Until then, here are videos of the top 10 most-viewed trailers of 2009, according to Yahoo (YHOO)–which garnered many tens of millions of views on its popular movie site.

Most–but not all–of them track on the big box-office winners, although the group includes an unusual one: “Mega Shark Vs. Giant Octopus,” starring Lorenzo Lamas, which was not exactly a hit.

Here they are:

No. 10: UP

No. 9: AVATAR

No. 8: MEGA SHARK VS. GIANT OCTOPUS

No. 7: STAR TREK

No. 6: G.I. JOE

No. 5: HARRY POTTER AND THE HALF-BLOOD PRINCE

NO. 4: TERMINATOR SALVATION

No. 3: 2012

No. 2: TRANSFORMERS: REVENGE OF THE FALLEN

No. 1: THE TWILIGHT SAGA: NEW MOON

When Time Warner reports its second-quarter earnings tomorrow morning, before the markets open, most Wall Street analysts are not expecting much from the media giant, as it continues to slog toward a rejiggering of itself.

Time Warner (TWX)–which owns assets like the Warner Bros. movie studio, the AOL online unit, the HBO and Turner cable television networks and Time Inc. magazines–is expected to earn 37 cents per share, compared to 72 cents a year ago, according to a poll of analysts from Thomson Reuters (TRIN).

Revenue is expected to be $6.97 billion, down from $11.56 billion in the same quarter last year. This drop is mostly due to the March spinoff of its cable unit, Time Warner Cable.

With movies like “The Hangover” and the sixth in the series, “Harry Potter and the Half-Blood Prince,” doing well, there is some strength at Time Warner.

But the advertising market has been weak all over, which hits the company hard.

That’s why both AOL and the magazines are expected to keep up their drag on Time Warner’s financial prospects–at least until the November spinoff of the online unit.

Until then, most expect another miserable quarter from AOL advertising revenue. Sources noted that any turnaround won’t show till end of year at the earliest, due to the weak economy and a retooling of the company and its sales force.

That restructuring is not over, most agree, with expectations of more layoffs of some of its 7,000 employees coming. With the 100-day overview by new CEO Tim Armstrong now over, sources said, the staff size is likely to be adjusted accordingly.

Most also expect to see continued weakness at the long-suffering Time Inc. magazine division.

People outside the company think that Time Warner CEO Jeff Bewkes will want to sell or spin off Time Inc. once AOL is done.

And people inside the company talk about the fact that Time has some 125 titles, although most of the revenue and profit only come from a few titles, such as People, Sports Illustrated and Time.

According to sources at the magazine division, talk of a new round of layoffs has also been also circulating there of late.

[The t-shirt image courtesy of Zazzle.]

With bootleg copies ripped on the Internet or not and with an $87 million opening weekend for “X-Men Origins: Wolverine,” it looks like the nerdiest summer movie season ever is off the races.

Hollywood, caught in the digital maelstrom, certainly is fine and dandy making bank by co-opting all the techie themes, gadgets and special effects, with a slate of movies over the next months that are like catnip to geeks of all kinds.

Including BoomTown, for example, which plans to fork over a lot of dough to pay for all the techtastic entertainment that those old media moguls can dish out before they collapse.

Here’s the roster and video trailers of key movies this summer:

Star Trek, May 8

It looks sassy enough with a hot, young cast in what is, like “Wolverine,” a prequel from when the crew of the Starship Enterprise were mere pups.

But one funny quibble comes from a post on the Mania.com blog called “10 Reasons to be Worried About ‘Star Trek’”:

“The New Bridge Looks Like an Apple Store: I love my iPod, but all the Apple Stores I’ve visited are located in the 21st century, not the 23rd. Made of frosted plastic shades and lawn furniture borrowed from the local Pinkberry, the bridge looks built to handle scenes of Kirk negotiating a kegger with the Vulcans more than the sparking explosions and flying bodies of the original.

One can imagine Kirk, trying to sweet-talk his latest alien conquest, and the bridge’s iTunes shuffle mode kicks in.”

Angels & Demons, May 15

Mathematical formulas, hidden puzzles to figure out the path of light through Rome, antimatter, Galileo?

Oh, I am there, except for Tom Hanks’s (playing Robert Langdon) shorter but nonetheless unfortunate haircut from “The Da Vinci Code.”

That and all the glaring but entertaining inaccuracies about science, religion and art from author Dan Brown. As if, I care.

Terminator Salvation, May 21

I am still in mourning over life without Summer Glau, given that the television show, “Terminator: The Sarah Connor Chronicles,” might be canceled after lackluster ratings in its second season.

I will have to trade that superb show for the grumpy grumbles of Christan Bale as John Connor in this fourth outing of the killer-cyborgs-from-the-future series of movies.

This one is set in the post-Judgment Day time, so it will have a lot of dusty, oily fighting with machines and grim grimaces about the dire situation (which, to be fair, bites).

Still, as always with my beloved “Terminator” movies, I’ll be baaaaaack.

Transformers: Revenge of the Fallen, June 24

More machines noisily battling it out while humans get stomped. Sometimes, I think these movies have been thought up by people who hate their cellphones.

Still, the first “Transformers” was funny about all the tech, and this one looks like it could be amusing too.

Also, given that I have two young boys, I have played with a lot of Transformer toys since the last movie came out and they really are cool.

Harry Potter and the Half-Blood Prince, July 15

I. Love. Harry. Potter.

I cannot control this fact and I am a wee bit perturbed by it.

But it is so, especially with all the creepy special effects that seem to get super-creepy in this sixth outing.

These movies just have gotten better and better, as have the young actors who play the main parts, so it’s hard to imagine it not being completely excellent.

Also, the whole pensieve thing rocks. The whole Dumbledore thing, not so much.

[PhotoShopped "Star Trek" publicity still courtesy of Mania.com]

Last week, BoomTown posted on the amazing number of Joker impression videos related to the hit Batman movie, “The Dark Knight,” that were popping up all over the Web.

Next up?

Well, it seems the honor will be going to Harry Potter knockoffs and tributes, due to the upcoming sixth movie in the series about the boy wizard, “Harry Potter and the Half-Blood Prince.”

The movie is set to be released Nov. 21 and focuses on the early life of evil Lord Voldemort, when he was only a creepy orphan named Tom Riddle.

Here’s a video, below, of the actual trailer, which was recently released online and is playing in theaters.

And below that is a good example of one of the many user-created videos that tout the new Potter movie by using old clips to create new trailers. None of them is sanctioned by Warner Bros. (TWX), which is releasing the movie and will not likely discourage the phenomenon, as it builds excitement for the film.