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are movie theaters dying

Did Jason Kilar Deal the Final Blow? Increasingly, the success or failure of Hollywood movies come not from Pittsburgh and Peoria but Shanghai and Seoul. The best way to classify box office revenue trends over the last 20 years is by using the phrase, “consistently inconsistent”. A bitterly disappointing 2017 gave way to a record-setting 2018 so it’s very difficult to turn speed bumps into trends which may or may not be there or that may change next month or even next week. You may opt-out by. Mihir Kumar Jha - December 10, 2020. Erik Gruenwedel. Not bad for an industry under siege from deep pocketed conglomerates like Netflix, Amazon and Apple, and a media more interested in provocative headlines than in-depth analyses. The movie business is perennially "dying" from something; but the coronavirus threat to theaters is real. I have over 20 years of experience in the entertainment business and am the Founder and CEO of Scout 53 Entertainment Consulting, which provides global entertainment business analysis, content distribution and revenue generation opportunities for cinemas, producers and in-theatre tech entities. Those looking to drive a wooden stake into cinema love to trot out attendance figures which show that movie-going in North America has fallen from 1.58 billion in 2002 to 1.24 billion in 2019. It was supposed to have been on life support when TV was introduced in the 1950s, the same with home video in the early 1980s, cable TV and home theater in the 1990s, and now streaming in the 2020s. Certainly, cinema chains continue to upgrade their theaters as moviegoers demand a more comfortable, multi-sensory movie-going experience but much of those upgrades have already come to fruition in the form of the auditorium retrofitting, 4D and large screen installations, and dine-in capabilities. If those producers had taken the Netflix money and run there’s no chance they would have been able to achieve an ROI approaching what they have achieved on a global box office basis. This is not sustainable. Is it dying? Pachter: People Aren’t ‘Dying’ to See a Movie in Theaters. Movie Theaters Are Dying. The Covid-19 pandemic has provided powerful evidence for the irrepressibility of human sociability. One of the most knowledgeable industry insiders is Paul Dergarabedian, Senior Media Analyst for Comscore and his analysis of the movie industry in 2020 echoes the above sentiments. Did Jason Kilar Deal the Final Blow?. Special thanks to Renan Borelli, Liriel Higa and Kathy Tu. The drop in attendance in the last 12 years is only a cumulative 11%. Sadly, it's about to suffer a mortal wound, right there in your living room. Attendance Isn’t As Bad As It’s Being Made Out to Be. I don’t think they’re dying. Twitter. Movie theaters might start opening up as soon as mid-June. Movie Theaters Aren’t Dying—They’re Being Murdered The Covid-19 pandemic is providing a perfect cover for media giants bent on replacing theatrical movie going with streaming. Most people aren’t hermits. I live in Los Angeles with my wife and 15 rescue animals. Mr. Kilar is only seven months into the job, and he just unleashed one of the biggest industry shake-ups in recent history. © 2020 Forbes Media LLC. However if you dig deeper into the numbers and trends you’ll see there is some hope for the movie business in its fight to ward off the battalion of doomsayers. To further the point, it’s worth noting that while 2019 box office was down 4.2% in North America, it was up 7.2% in 2018, down 2.6% in 2017 and, that’s right, up 2.7% in 2016. Movie theater attendance plunged in 2014, hitting numbers that haven't been this low since 1995. But it certainly is evolving, as every industry has to as it withstands challenges and seeks … No one is going to the movies anymore, everyone is staying home and binge watching Disney+, Netflix, Amazon, HBO Max, Peacock, and the other 641 streaming channels. was trying to drag Hollywood into the 21st century, but now he’s at odds with the theaters … BreakingProse; JewelCrafting; BeadBaby Despite a slew of superhero sequels and fanboy comic book movies hitting theaters, the number of frequent young moviegoers declined last year, according to the industry’s latest figures. Articles proclaiming the death of cinema revolve around depressed stock prices while depressed stock prices are often the result of a plethora of business articles trumpeting, you guessed it, the death of cinema. They need to stop competing on "convenience" and start focusing on "experience." Might start opening up as soon as mid-June paper at least until the next thing... 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