Struggling Movie Exhibitors Beg Studios For More Movies - and Not Just Blockbusters

Movie exhibitors still face 'serious risks,' the Los Angeles Times reported Tuesday:
Attendance was on the decline even before the pandemic shuttered theaters, thanks to changing consumer habits and competition for people's time and money from other entertainment options. The industry has demonstrated an over-reliance on Imax-friendly studio action tent poles, when theater chains need a deep and diverse roster of movies in order to thrive... It remains to be seen whether the global box office will ever get back to the $40 billion-plus days of 2019 and earlier years. A clearer picture will emerge in 2025 when the writers' and actors' strikes are further in the past. But overall, there's a strong case that moviegoing has proved to be relatively sturdy despite persistent difficulties.
Which brings us to this year's CinemaCon convention, where multiplex operators heard from Hollywood studios teasing upcoming blockbusters like Joker: Folie à Deux, Furiosa: A Mad Max Saga, Transformers One, and Deadpool & Wolverine.

Exhibitors pleaded with the major studios to release more films of varying budgets on the big screen, while studios made the case that their upcoming slates are robust enough to keep them in business... Box office revenue in the U.S. and Canada is expected to total about $8.5 billion, which is down from $9 billion in 2023 and a far cry from the pre-pandemic yearly tallies that nearly reached $12 billion... Though a fuller release schedule is expected for 2025, talk of budget cuts, greater industry consolidation and corporate mergers has forced exhibitors to prepare for the possibility of a near future with fewer studios making fewer movies....

As the domestic film business has been thrown into turmoil in recent years, Japanese cinema and faith-based content have been two of movie theaters' saving graces. Industry leaders kicked off CinemaCon on Tuesday by singing the praises of Sony-owned anime distributor Crunchyroll's hits — including the latest 'Demon Slayer' installment. Mitchel Berger, senior vice president of global commerce at Crunchyroll, said Tuesday that the global anime business generated $14 billion a decade ago and is projected to generate $37 billion next year. 'Anime is red hot right now,' Berger said. 'Fans have known about it for years, but now everyone else is catching up and recognizing that it's a cultural, economic force to be reckoned with.... ' Another type of product buoying the exhibition industry right now is faith-based programming, shepherded in large part by 'Sound of Freedom' distributor Angel Studios...

Theater owners urged studio executives at CinemaCon to put more films in theaters — and not just big-budget tent poles timed for summer movie season and holiday weekends... 'Whenever we have a [blockbuster] film — whether it be 'Barbie' or 'Super Mario'... records are set,' added Bill Barstow, co-founder of ACX Cinemas in Nebraska. 'But we just don't have enough of them.'

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