Lights! Camera! Losing traction! Revenue growth for movie theaters has slowed in 2023 and 2024 as labor strikes reduced the movie pipeline to a trickle, giving the public fewer options. Moreover, high inflation has had consumers second-guessing paying the ever-increasing prices at the theater. While inflation is righting itself and movie production will pick up again, theaters are still left with the task of providing a more vibrant experience.
On the upside, moviegoers don’t see themselves reducing their attendance, but there are ways exhibitors can make a trip to the cinema more appealing. Generally, moviegoers, especially frequent ones, are looking for a more premium experience, whether in the form of premium large formats, more comfortable seating or more upscale concessions. They also want to feel part of something special, such as by attending a special screening, a broadcast of a live event or a unique experience like playing in a video game tournament on the big screen.
Looking ahead, theaters need to think about their place in the out-of-home leisure landscape. They’re already considered a central part of going out, and certain segments are ready for movie houses to take that literally – by being the access point to other entertainment establishments. Luckily, theaters have examples that serve as a jumping-off point.
This report looks at the following areas:
- Estimated revenue and forecast for domestic movie theaters
- Market drivers affecting the industry
- An overview of key players in the US
- Segment analysis of moviegoers, and how to address their distinct needs
- What makes a moviegoer choose one theater over another
- Preferences in movie theater concessions
- Loyalty program features that matter most to moviegoers
- How theaters can distinguish themselves in the leisure landscape
- The best ways theater marketers can communicate with consumers
- Trends and opportunities that matter to exhibitors
In a world where theaters can’t rely on only box office revenue, they must rally their biggest fans while expanding further into the out-of-home leisure market.
Mike Gallinari, Senior Travel & Leisure Analyst
Market Definitions
For the purposes of this Report, Mintel defines a “moviegoer” as an adult aged 18+ who has visited a movie theater in the previous 12 months or intends to go in the next 12 months.
This Report concentrates on commercial cinema venues. Festivals, army bases, museums, libraries, prisons, airlines, restaurants, cafes, and other venues that license films for profit are not included; only sites whose primary day-to-day function is the commercial display of cinema are considered.
Companies that own, lease, manage, or operate facilities for the day-to-day commercial display of films are the subject of this Report, and are referred to as “movie theaters.”
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Executive Summary
- What you need to know
- Market size & forecast
- Market predictions
- What consumers want & why
- Opportunities
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Market Dynamics
- Market context
- Market drivers
- Rising admissions can give potential moviegoers pause
- Inflation continues to cool, but also continues to affect budget decisions
- Graph 1: Consumer Price Index change from previous period, 2021-24
- Revenues are more dependent on tentpoles for support
- Americans are staying home more – but aren't necessarily happy about it
- Strike effects continue to harry box office numbers
- Generative AI presents a minefield for studios looking to ride the hype
- Theaters can use their lasting physical footprint to expand into leisure hubs
- Market size and forecast
- Growth will be slow as the industry returns to normal operations
- Consumer spending and forecast for movie theaters, at current prices
- Consumer spending and forecast for movie theaters, at inflation-adjusted prices
- Key players
- AMC looms over all, but Alamo may be ascendant
- Graph 2: movie theater chains visited in the past 12 months, 2024
- Top theaters saw revenue growth from 2022-23
- AMC continues its wild ride at the top
- Cinemark tries working in conjunction with the streaming audience
- Regal begins its climb back to solvency
- Can Alamo's Lone Star spirit survive multinational acquisition?
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Consumer Insights
- Consumer fast facts
- Moviegoer segments
- Moviegoer Segments
- Occasional Observers – 28% of moviegoers
- Occasional Observers demographic profile
- Steadfast Screeners – 35% of moviegoers
- Steadfast Screeners demographic profile
- Film Fans – 37% of moviegoers
- Film Fans demographic profile
- Movie theater visitation and intent
- Nearly three quarters of consumers have visited a theater in the past year
- The more people go to theaters, they more they want to go in the future
- Graph 3: visitation intent in the next 12 months, by visitor frequency, 2024
- Moviegoing is a habit; appeal to all segments so some don't fall off
- Graph 4: visitation intent in the next 12 months, by segment, 2024
- Inflation and strike-affected pipeline have moviegoers looking elsewhere
- Graph 5: reasons for deprioritizing moviegoing, 2024
- Market conditions are holding back the most ardent theater segment
- Graph 6: reasons for de-prioritizing movie going (any agree), by segment, 2024
- The value of the theater experience needs to be touted to a specific, otherwise engaged audience
- Graph 7: "I have de-prioritized moviegoing because I prefer streaming them at home later" (any agree), by age and gender, 2024
- Deciding factors in visitation
- Lower ticket prices, cleanliness are most likely to draw guests from further away
- Lower ticket prices, cleanliness are most likely to draw guests from farther away
- Graph 8: deciding factors to visit a farther theater, 2024
- Price, premium and pristineness expand a theater's audience
- Established moviegoing segments are drawn by premium options, entertainment access
- Graph 9: deciding factors to visit a farther theater – select items, by segment, 2024
- Cost-conscious Occasional Observers may only respond to price incentives
- Regal makes parents' wallets feel like kids again
- A "trip to the movies" can be code for something bigger
- Graph 10: deciding factors in visiting a farther theater – select items, by HHI, 2024
- Multicultural consumers view moviegoing through the lens of experiential value
- Graph 11: deciding factors in visiting a farther theater – select items, by race and Hispanic origin, 2024
- Concession preferences
- Overall concessions preferences reverting back to tradition
- Graph 12: desired theater concessions, 2022-24
- Oft-visiting Film Fans want a larger menu at the concession stand
- Graph 13: desired theater concessions, by segment, 2024
- Concessions have a lot of room to play
- Thematic baked goods can bring fun to a movie release
- Graph 14: desired theater concessions – bakery items and themed options, by gender and age, 2024
- Appeal for full meals hearkens to desire for movies to serve as entertainment hubs
- Graph 15: desired theater concessions – full meals, by race and Hispanic origin, 2024
- Parents' desire for theming makes a case for more theater-hosted parties
- Graph 16: desired theater concessions – themed options, by presence, age and number of children in household, 2024
- Desired theater loyalty benefits
- Discounts are table stakes, and programs need more oomph
- Graph 17: desired theater loyalty benefits, 2024
- Loyalty programs are functional, but don't excite
- Basic features drive loyalty
- Match Film Fans' excitement for movies with an exciting loyalty tier
- Graph 18: desired theater loyalty benefits, by segment, 2024
- Provide multicultural guests in dense areas with priority perks
- Graph 19: desired theater loyalty benefits – select items, by race and Hispanic origin, 2024
- AMC uses TikTok to plug order ahead, unusual concessions
- Urban moviegoers want perks that align with city living
- Graph 20: desired theater loyalty benefits – select items, by area, 2024
- Loyalty programs are underpowered
- There's no one-size-fits-all program for moviegoers
- Graph 21: attitudes toward theater loyalty (any agree), by segment, 2024
- Attitudes toward movie outings & special events
- Theaters need to meet moviegoers' expectations of a social outlet
- Graph 22: attitudes toward social aspects of moviegoing (any agree), by segment, 2024
- Gen Z needs convincing of theaters' social benefits
- Graph 23: attitudes toward social aspects of moviegoing (any agree), by generation, 2024
- Help multicultural audiences connect movies with socializing
- Graph 24: attitudes toward social aspects of moviegoing (any agree), by generation, 2024
- Use varied events to keep theater options fresh
- Graph 25: appealing special events at movie theaters, 2024
- Host varied events for the most devoted visitors
- Graph 26: appealing special events at movie theaters, by segment, 2024
- Alamo's thematic redesign served as a tractor beam for Star Wars fans
- Theaters can play a vital role in celebrating fandom
- Voorhees: a jolly good fellow (to celebrate)
- Think beyond the screen to satisfy multicultural audiences' wishes
- Graph 27: appealing special events at movie theaters, by race and Hispanic origin, 2024
- Consider the draw of video games
- Graph 28: appealing special events at movie theaters, by Mintel gamer segment, 2024
- Mintel gamer segments – motivations
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Innovation and Marketing strategies
- Launch activity and innovation
- 4DX may have finally found a solid foothold in the market
- North American theaters make a big investment to catch up with consumer attitudes
- Popcorn buckets don't Shai-Hulud away from maximalism
- TikTok's Showtimes can be used more to bring people back to the cinema
- Marketing and advertising
- Regal's troubles allow other brands a larger share of spend
- Graph 29: share of digital ad spend of national theater chains, 2023-24
- Cinemark establishes its presence on TikTok
- Graph 30: share of digital ad spending by select national theater chains, by platform, 2023-24
- Driving consumers to a brand app facilitates future communication
- Graph 31: attitudes toward receiving theater communications (any agree), by generation, 2024
- Communication via apps can help to connect with multicultural moviegoers
- Graph 32: attitudes toward receiving theater communications (any agree), by race and Hispanic origin, 2024
- Exhibitors can capitalize on how hard it is to find good streaming titles
- Graph 33: "I feel like I waste a lot of time looking for quality entertainment" (any agree), by age and gender, 2024
- Mintel Trends in action
- Expand the brand's footprint to other entertainment
- Think of ways to bring the movie experience home
- Tap into local history to inspire events and atmosphere
- Omnichannel Marketing Trend: Capitalizing on Fandom
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Appendix
- Market definition
- Consumer research questions
- Consumer research methodology
- TURF methodology
- Generations
- Abbreviations and terms
- Forecast methodology
- Forecast fan chart methodology
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