Abstract
About this report
While the recession has been bad news for most sectors of discretionary spending, revenues from domestic box offices have seen a large boost in early 2009. For the first time in years, theater operators find themselves in the position to take advantage of a potential trend reversal. In this report, Mintel takes a look at how the recession is impacting attendance and the revenue generating potential of theater exhibitors.
Analysis and insights offered include:
- How admissions and concession revenue are faring during the recession
- Which alternatives to the cinema experience continue to grow
- What strategies Hollywood studios are using to cut costs and minimize risks
- How leading operators are innovating to reinvent the cinema for certain targets
- Which demographics are increasing attendance over last year
- Where and when do moviegoers most often buy their tickets
- What factors are most important in theater selection
- Which media are most effective in reaching key moviegoer demographics
Table of Contents
- Scope and Themes
- What you need to know
- Definition
- Data sources
- Sales data
- Consumer survey data
- Abbreviations and terms
- Abbreviations
- Terms
- Executive Summary
- Declining admissions trend reversed by recession
- Cinema experiences see competition from internet and home theater
- Hollywood studios continue to dominate and seek low-risk hits
- Recession boosts admissions but slows digitization
- Megaplex strategy continues to perform
- Studios get more creative as marketing budgets are cut
- Moviegoing remains a largely impromptu activity
- Comfortable seats and convenient movie times are most important factors in
theater selection
- Popcorn and soda tradition remains intact for now
- Traditional TV and radio ads still the best way to reach moviegoers
- Minority moviegoers show higher frequency of attendance
- Market Size and Forecast
- Movie theaters a growth story during recession
- Figure 1: Total domestic revenues of movie theater operators, at current
prices, 2004-14
- Figure 2: Total domestic revenues of movie theater operators at
inflation-adjusted prices*, 2004-14
- Competitive Context
- Box office recovers but growth lags behind video games and internet
- Figure 3: Hours of filmed entertainment consumption per person per year,
2003-07
- Adoption of more sophisticated televisions continues
- Figure 4: Types of televisions owned, 2007 and 2008
- Home video revenues decline despite home theater trend
- Segment Performance
- Ancillary revenues grow faster through 2008
- Figure 5: U.S. sales and forecast of movie theater operators, by revenue
stream, 2004-14
- Figure 6: Movie theater sales, by revenue stream, 2006 and 2008
- Segment Performance--Admissions
- 2009 breaks trend as growth is driven by admissions
- Figure 7: Sales of movie tickets at box office, 2004-14
- Admissions boom in 2009 after weak 2008
- Figure 8: Movie theater admissions and average ticket prices, 2003-08
- Segment Performance--Concessions
- Concessions revenues stall as consumers pull back
- Figure 9: Sales of theater concessions, 2004-14
- Growth of concession revenue slows even for megaplex operators
- Figure 10: Average ticket and concession revenue per patron at regal
cinemas, 2003-07
- Segment Performance--Cinema Advertising
- Cinema advertising slowed down by recession but still growing
- Figure 11: Sales of cinema advertising*, 2004-14
- Supply Structure
- Blockbusters key to market share but growth through niche still possible
- Figure 12: Box office share of major media conglomerates, 2007-08
- Comedy genre gains share during hard times
- Figure 13: Box office share, by genre, 2007-08
- Studios avert risk through franchises, remakes, and building on known
brands
- Market Drivers
- Core demographics more likely to increase attendance during recession
- Recession slows revenue boost from 3D releases
- Studios turn to franchise tentpoles to guarantee attendance
- Figure 14: Movie sequels grossing over $100 million, 2004-08
- Leading Companies
- Regal and AMC outpace overall box office in admissions growth
- Figure 15: U.S. box office revenues, by theater exhibitor, 2006 and 2008
- Megaplex strategy continues to perform for AMC
- Figure 16: Selected statistics for major U.S. theater exhibitors, 2008
- Leading chains move ahead with 3D and IMAX
- Personalized gift cards and promotional tie-ins make gift cards more fun
- Regal seeks to expand social networking presence
- Innovation and Innovators
- AMC targets adults with new upscale concepts
- Motion-enhanced seating intensifies action experience
- Advertising and Promotion
- Major studios cut back on media buys
- Figure 17: Media expenditures and total sales for major movie studios,
2006 and 2007
- Studios get creative to do more with less
- Network TV courts movie advertisers
- Figure 18: Movie studio spending on network and cable TV advertising,
2004-08
- Movie Attendance
- Age and household income are greatest determinants of movie attendance
- Figure 19: Movie attendance, by age, household income and presence of
children, Oct 2007-Dec 2008
- Change in Movie Theater Attendance
- Higher box office receipts may comes from core demographics
- Figure 20: Change in movie theater attendance, April 2009
- Core segments of males and 18-24 year-olds are more likely to report
higher attendance
- Figure 21: Change in movie theater attendance, by gender, April 2009
- Figure 22: Change in movie theater attendance, by age, April 2009
- Financial conditions impact attendance of lower-earners and larger families
- Figure 23: Change in movie theater attendance, by household income,
April 2009
- Figure 24: Change in movie theater attendance, by children in the
household, April 2009
- Method of Purchase
- Tickets still predominately purchased right before the movie
- Figure 25: Method of movie ticket purchase, April 2009
- Moviegoers aged 18-24 most likely to buy tickets right before movie while
24-34s most likely to buy online
- Figure 26: Method of movie ticket purchase, by age, April 2009
- Males, higher earners, and families more likely to purchase online
- Figure 27: Method of movie ticket purchase, by gender, April 2009
- Figure 28: Method of movie ticket purchase, by household income, April
2009
- Figure 29: Method of movie ticket purchase, by children in the
household, April 2009
- Factors in Theater Selection
- Comfortable seating and convenient movie times are most important factors
- Figure 30: Factors in theater selection, April 2009
- Male respondents more likely to value megaplex qualities
- Figure 31: Factors in theater selection, by gender, April 2009
- Youngest respondents aged 18-24 more likely to value title selection and
fun ambience
- Figure 32: Factors in theater selection, by age, April 2009
- Families want discounts but others want quiet
- Figure 33: Factors in theater selection, by children in the household,
April 2009
- Concessions Purchased
- Popcorn and drink combo still the most widely purchased concession
- Figure 34: Concessions purchased at movie theater, April 2009
- Popcorn tradition stronger among over-35s
- Figure 35: Concessions purchased at movie theater, by age, April 2009
- Kids drive concession purchases as well as alcoholic beverage sales
- Figure 36: Concessions purchased at movie theater, by children in the
household, April 2009
- Sources of Information
- Internet significant but traditional media has greatest reach by far
- Figure 37: Sources of information on movies, April 2009
- TV, internet, and billboards more noticed by key under-35 demographic
- Figure 38: Sources of information on movies, by age, April 2009
- In-Theater Advertising
- Lobby and pre-show commercials more likely reach under-45s and blacks
- Figure 39: Interest in in-theater advertising, by gender, age and
race/Hispanic origin, October 2007-December 2008
- Movie Theater Gift Cards
- Movie gift card purchase driven by children and mothers
- Figure 40: Movie theater gift card purchase, by gender, age, HH income,
race/Hispanic origin and presence of children, April 2009
- Impact of Race and Hispanic Origin
- Hispanics of all ages attend movies more frequently
- Figure 41: Movie attendance, frequency and average times, by
race/Hispanic origin and age, Oct 2007-Dec 2008
- Blacks and Hispanics under 45 more likely to have increased attendance
- Figure 42: Change in movie theater attendance, by race/Hispanic origin
among 18-44 year-olds, April 2009
- Black and Hispanic respondents more likely to look for larger screens, fun
ambience, and wider selection of concessions
- Figure 43: Factors in theater selection, by race/Hispanic origin among
18-44 year-olds, April 2009
- Figure 44: Concessions purchased, by race/Hispanic origin, April 2009
- Black and Hispanic respondents more likely to pay attention to movie ads
on radio, television, and outdoors
- Figure 45: Sources of information on movies, by race/Hispanic origin,
April 2009
- Appendix: Other Useful Consumer Tables
- Theater selection
- Figure 63: Factors in theater selection, by household income, April 2009
- Sources of information
- Figure 64: Sources of information on movies, by gender, April 2009
- Figure 65: Sources of information on movies, by children in the
household, April 2009
- Concessions purchased
- Figure 66: Concessions purchased, by gender, April 2009
- Appendix: Trade Associations
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