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As we're all aware, there are profound changes going on in the movie industry as it tries to find itself. In the throngs of a diminishing release window and competition from all sides the movie industry, particularly exhibition, knows that what worked in the past is no longer of value today. Compounded by a lack of big name blockbusters and Hollywood sexual revelations the U.S. box office is down over 5% from last year.
What is needed is good product to 'draw them in' and an engaging experience once at the cinema. Disruptors, like Netflix, plague the industry by not only buying new product for their platform but also producing there own content. So, if you can't beat'em join 'em. Movie exhibitors should consider deals with Netflix to screen day-and-date with Netflix releases.
- Hooking-up with Netflix on their serial productions. Screening an episode each week of the most popular Netflix originals.
- Work with the studios on tiered pricing for films. Charging more for the 'biggies' ala 'Star Wars' or 'Thor' and less admission for marquee fodder. The day of the one-price-fits-all movies is OVER.
- A monthly admission is also worth exploring.
-There are still many engaging genre films but they are not promoted properly. Concourse Media's new Mediabill and Playbill in partner with exhibitors is a good first-start and should be expanded upon. This is particularly true for Horror films which have always been good grossers.
- It's not a question of not enough product it's a question of promotion (the studios) and fulfillment (the cinemas). Consumers need to be engaged- the need for entertainment must turn into a want to go to the local cinema
Stay in touch,
Jim Lavorato
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