With movie admissions in the US at a ten-year low, we take a closer look at how technology is transforming the way we consume Box Office content, from the Big Screen to the Small Screen in our pockets, explore how Netflix is changing the game with multi-million dollar film productions, and consider the impact of Apple’s upcoming streaming service on the sector…
THE BOX OFFICE
Whilst, on the surface, it may appear as though consumers are spending less time and money at their local movie theatres, the American film industry generated $32 billion in revenue last year, increasing around 2 percent year on year. According to research firm IBISWorld, the industry has “grown sluggishly in recent years and movie theater growth has increasingly come from ancillary concessions,” although demand is expected to pick up in the coming years as major studios such as The Walt Disney Company, NBCUniversal Media LLC, AT&T Inc, Sony Corporation, and Viacom Inc announce major new titles and revive iconic old IP brands.
Indeed, 2019 looks set to be a significant year in the world of film, with titles such as Captain Marvel, Avengers: Endgame, Aladdin, Toy Story 4, Dumbo, Spider-Man: Far From Home, Star Wars: Episode IX, It: Chapter Two, Cats, The Lion King, Frozen 2, Men in Black: International, POKÉMON Detective Pikachu, Joker 2019, and Fast & Furious Presents: Hobbs & Shaw. Indeed, between them, these titles are expected to shift billions of tickets around the world, not only adding to Box Office coffers but spawning new merchandising opportunities that take the titles to new heights. Disney, for example, has already announced plans to open attractions like A Lion King Celebration and Star Wars: Galaxy’s Edge at its Parks, signaling a change in the industry from tickets to addons, merch, and experiences as consumers strengthen relationships with their favorite movie characters.
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