Battle of the Year is based on the actual b-boy world competition called Battle of the Year. This I actually didn't know until after the competition, I initially thought this was a fictional premise. After some quick research, b-boying has been around since the 70's and is commonly known by general audiences as breakdancing, although b-boying is the preferred name by those who actually do it. Just like in the movie, Battle of the Year takes place in France every year and is typically dominated by South Korea, France, Japan, Russia, and Germany, with the USA and Taiwan showing up competitively on occasion (USA actually came in second place to France back in 2011).
On to the movie itself, the fictional premise of the movie takes place three months before Battle of the Year. The US team hasn't won the competition in 15 years (which actually is true in real life -- US hasn't won the competition since 1998). The guy sponsoring the team is named Dante (Laz Alonzo) and he turns to former b-boy Jason Blake (Josh Holloway) to coach this year's team. Blake agrees to coaching despite his life being in shambles and when he does, he decides to completely scrap the team and assemble a dream team of b-boys that will compete for the title.
Overall, this movie may not be the best movie you'll ever see, but in the year's quietest movie month, if you are itching for a new movie to go see, I'd recommend you give Battle of the Year a shot because despite the poor reviews you'll see by critics, it did pull off an A- cinemascore, so you might find yourself enjoying it. But catch it in 2D if you can. I actually saw it in 3D (which wasn't the plan intitially) and the 3D didn't add much. But overall, I would give the movie a solid 8 out of 10 score.