Led by Disney, and 'The Last Jedi' (which tallied over $1 billion worldwide in just three weeks after its release) the domestic 2017 box office ended at $11.1 billion. This performance was only 2.3% off 2016 record results. Internationally, the box office was up 6% over 2016, and generated huge numbers, led by the Chinese cinema.
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| 2018's Aquaman will be box office superstar. |
I am optimistic about 2018 which will see a new 'Avengers', 'Solo: A Star Wars Story', 'Aquaman', 'Fantastic Beasts', and others there is plenty for movie theaters to feel good about. However, cinemas must began in earnest to diversify there product mix. They must deliver-up a varied mix of content and not just rely on Hollywood produced films.
The need for delivering an experience is essential. Plan for the inevitable day-and-date release of movies and devise content programs that are varied. Hollywood movies, indie products, TV content, and original product from the streamers via deals with the likes of Netflix and Amazon is the only way for cinemas to prosper and not just get by.
The days of increasing your box office take by raising ticket prices is over, as is, the pushing of concession to ridiculous price points. It is all about volume now (and in the future) - it's about filling seats for all screenings and making the 'experience' of going to your cinema at the top of peoples' recreation list
Stay in touch,
Jim Lavorato
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