Are movie theaters coming to an end?
Americans all over the country used to enjoy going to movie theaters, but over the last few years, it seems as if that interest has slowly faded. Movie theaters used to be a place for families and friends to enjoy themselves and their favorite movies, but now most people stay home and look towards streaming services as their number one choice to watch films. This deal is your fate. Unleash this $5 Flavor Maker ICEE combo, exclusively featuring Sprite Chill ICEE when you see #TarotMovie, at #AMCTheatres! https://t.co/0wO6KNw19z pic.twitter.com/aMBAN0gqv5— AMC Theatres (@AMCTheatres) May 12, 2024 According to an exclusive study that was conducted by research company HarrisX for IndieWire, ? of Americans would rather wait for movies to appear on their streaming services than go to the movies. The survey interviewed over 1,000 adults from different demographics. In the same survey, over 50% claimed that the cost of movie tickets is a big reason as to why they choose to not attend movie theaters, while over 40% also mentioned the cost of items at concession stands. Movie theaters once served as a weekend activity for families, but now the cost can exceed that of a family dinner. Items at concession stands often start at over $10, with some entrees reaching upwards of $15. The only items priced under $10 are candies and fountain drinks, which are available for significantly less at corner stores. Going to the movies has transitioned from a simple pleasure to a luxury. The high costs now make it challenging for parents to take their entire family out for a movie, turning it from an accessible pastime into an expensive outing. Some people may think that movie theaters are solely focused on profits and unconcerned with attracting audiences, but that is because it's easy to overlook the financial setbacks they faced in recent years due to the pandemic. According to Box Office Mojo, an online service that offers information on how much money films have made domestically and internationally, movie theaters across the country made a total gross revenue of $11,363,360,031 in 2019. Box Office Mojo reported a drop of over 81% the following year. In 2020, when the Covid 19 pandemic caught the world by surprise, movie theaters made a total gross revenue of $2,113,846,800, less than $9 billion in earnings from the year prior. Despite Barbie being the most popular #1 release since 2010 when Avatar was released, that wasn’t enough to help bring the total gross back to its normal average. Welcome to DAY ONE. Watch the new trailer for #AQuietPlace: Day One - only in theatres June 28. pic.twitter.com/wtqqltkRyq— A Quiet Place: Day One (@AQuietPlace) May 9, 2024 Since the start of the pandemic, the total gross revenue for movies across America has dropped tremendously. In 2023, the total gross revenue reached $8,908,261,473, the highest in recent years but to find a comparable figure, you have to go back to 2005, when the total gross income was $8,833,618,311. The reality is that movie theaters, just like many other businesses, are trying to play catch up and make up for all the money they missed out on between the years 2020 and 2023, but this effort isn’t working in their favor because now Americans would rather wait until movies appear on their streaming services. The cost of everything has risen and now Americans are now reevaluating their spending habits and prioritizing essentials over personal interests. Streaming services are now offering something that movies can’t, an affordable and comfortable opportunity to watch any movie they like. Read the full article
