Embracing the Holiday Season
The holiday season is already in full swing, and we all know how quickly the New Year will arrive. This isn’t the time for major system changes, but it’s the perfect moment to start planning for an upgraded 2025 with CinemaPlus.
If you’re looking to transform your website, add a mobile app, enhance the user experience, or integrate new support features, now is the ideal time to reach out. By connecting with our team, you can start the New Year with a refreshed look and enhanced capabilities, setting yourself up for a fantastic year ahead.
Simply reply to this email to start a conversation, and our team will be ready to assist you.
Happy Holidays!
NEED TO KNOW
Streaming Soars, Theaters Snooze: Studios Ride the Digital Wave in Q3
Streaming growth continues to outshine theatrical revenue, as third-quarter 2024 earnings calls from major studios revealed mixed fortunes. For cinema exhibitors, these trends underscore the need to adapt and leverage theatrical releases that resonate with audiences, as streaming's dominance grows.
Lionsgate faced challenges, with Borderlands grossing only $33M globally on a $100M+ budget. While the motion picture group turned a modest $2.6M profit, down from $67.5M last year, Lionsgate plans to focus on franchise hits like The Hunger Games, John Wick, and Saw to drive future growth.
Paramount Global showed a 10% rise in streaming revenue, hitting $1.86B, but theatrical revenue plunged 34%, contributing just 1.6% to overall earnings. Hits like A Quiet Place: Day One and Transformers One provided some relief but were not enough to counter declines in linear TV.
Sony's theatrical revenue remained flat at $455M, with releases like It Ends With Us performing steadily. However, its Pictures Division saw a 38% drop in operating income, highlighting challenges amid a broader decline in revenues.
Warner Bros. Discovery experienced a 40% drop in theatrical revenue despite Beetlejuice Beetlejuice and Twisters. Streaming on Max provided a bright spot, with an 8% revenue increase and growing international subscribers.
This data highlights the importance of blockbusters and franchise management in maintaining cinema’s relevance amidst the streaming boom. Read more
AMC Goes Blockbuster Mode: Major Theater Upgrades to Reel in Moviegoers
AMC CEO Adam Aron remains optimistic despite a challenging Q3 marked by year-over-year ticket sales and revenue declines. He attributes the downturn to delayed movie releases caused by the Hollywood labor strikes, impacting exhibitors like AMC. However, Aron foresees a robust 2025, with major studios planning to increase production significantly. One studio reportedly aims to release 38 films next year, signaling a return to high-profile sequels and franchise movies that have historically boosted box office success. With anticipated releases such as Avatar 3 and Deadpool 3, Aron believes the North American box office could surpass $10 billion, a milestone last achieved in 2019. In addition, AMC’s multi-year “Go Plan” initiative aims to enhance theater experiences with substantial investments in seating, technology, and auditoriums. Upgrades include luxury recliner seating and AMC XL large-format screens in key locations. These investments in content and venue enhancements could be crucial to revitalizing the in-theater experience and driving growth in an increasingly competitive entertainment landscape. Read more
A Sequel So Bad, Even the Stars Are Laughing
Comedian Tim Dillon, who plays a minor role in Joker: Folie à Deux, criticized the Todd Phillips-directed sequel on The Joe Rogan Experience, calling it “the worst film ever made.” Dillon attributed the film's direction to backlash against the first Joker, which some claimed resonated with the “wrong kinds of people.” In response, Folie à Deux went in a different direction, featuring intense musical elements with Joaquin Phoenix and Lady Gaga. Despite Warner Bros. categorizing it as a musical for awards, the film flopped critically and commercially, grossing under $38 million domestically with a 32% Rotten Tomatoes rating. Contrastingly, Quentin Tarantino praised its chaotic nature and musical sequences.
Mufasa: The Lion King – Ready to Pounce at the Box Office!
Disney's Mufasa: The Lion King, directed by Barry Jenkins, is projected for a $59-66 million opening when it debuts on December 20, according to Quorum. The film has a 62 "Pay to See" score, indicating strong interest, comparable to upcoming titles like Wicked (64), Gladiator II (63), and Moana 2 (62). Mufasa appeals to an older, female-leaning audience, while Sonic the Hedgehog 3, its December 20 rival, draws a younger, male demographic. Positioned in the prime pre-Christmas corridor, Mufasa could leverage holiday attendance to build momentum. Disney’s 2019 The Lion King remake achieved $1.66 billion globally.
Red One Rocks $26M Worldwide as Venom 3 Nears $400M
Red One, a Christmas action film starring Dwayne “The Rock” Johnson as Santa’s head of security, had a modest international debut, earning $26.6 million across 75 markets. In contrast, Venom: The Last Dance brought in $33 million in its third weekend, totaling $279.4 million overseas and $394.2 million globally. While trailing previous entries, Venom 3's $120 million budget positions it well in theaters. Red One, with a hefty $250 million budget, releases domestically on Nov. 15, aiming for a long theatrical run. Universal’s animated The Wild Robot has nearly reached $300 million globally, with $292.4 million to date.
The Last Leap: Ethan Hunt’s Final Reckoning Begins
