THEATER OWNERS HOPEFUL AGAIN FOR 2025

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Theaters are hopeful for 2025 after a weak 2024 that is down 5 per cent from 2023. 85 per cent surveyed say they plan to go to movies in 2025. 76 per cent between the ages of 12 and 74 (about 200 million people) saw at least one movie in a theater in 2024. 

An interesting and surprising finding according to the group is that movie theaters continue to bring in more people annually than the NFL, MLB, NBA and NHL. Owners blame the strike and post-production delays. The group says weekly box office numbers do not fully dictate the state of the business. The report focused also on consumer enthusiasm, investment in the marketplace and growth of loyalty programs. Another survey by a completely different group, the Global Cinema Federation, finds that in 14 countries, 72 percent for those who replied to the survey said they are going to theaters more or the same as six months ago. People also like IMAX with a big jump in those numbers. 950 theaters in the US now have large-format screens and that’s up 37 per cent over five years ago. Globally the number of screens has more than doubled since 2016 to 5,700 but these screens account for only 9 per cent of the annual domestic box office numbers. 
Owners say they will invest more than $2.2 billion in upgrades over the next three years that includes upgraded projection and sound, better food and drink choices, and better signs, lighting and 
entrance areas. Loyalty program subscriptions in the U.S. and Canada are up 12 percent from 2023 to 2024 now totaling over 118.9 million members.Some breakdown: 45 percent of Latino moviegoers prefer seeing movies on opening weekend, which is 11 percent higher than total moviegoers overall. Going to see a movie on opening weekend is the No. 1 preferred activity among Gen Z ( 10 to 24) females and No. 2 preferred activity among Gen Z males.Latino moviegoers make up 27 percent of those who saw six or more movies in 2024. 

Photo:Wikipedia

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