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Movie Theaters - US - November 2014

Published By :

Mintel

Published Date : Nov 2014

Category :

Lifestyle

No. of Pages : 153 Pages

The movie theater industry is facing threats from all sides, with studios trying to shrink the exhibition window, consumers increasingly staying at home for their entertainment, and a new generation of moviegoers who expect entertainment content to be customizable and on-demand. Movie theaters can embrace the customization trend by tailoring more screenings to specific audiences while still celebrating moviegoing as one of the few shared experiences left in an increasingly fragmented media landscape.
Table of Content

Scope and Themes

What you need to know
Definition
Data sources
Sales data
Consumer data
Abbreviations and terms
Abbreviations
Terms

Executive Summary

The market
Sluggish growth expected to continue
Figure 1: Total US retail sales and fan chart forecast of movie theaters, at current prices, 2009-19
Market drivers
Buzz and exclusivity drive viewers into theaters
Movies still present an affordable night out
Figure 2: Average movie ticket cost, at current prices, 2009-14
Home theater equipment (and content?) approach cinema quality
Leading companies
The consumer
Pool of moviegoers shrinking
Figure 3: Past six month movie visitation, by gender and age, August 2014
More people prefer watching movies at home; cost is a top barrier
Figure 4: Venue preference to watch movies, August 2014
Figure 5: Barriers to more frequent movie attendance, August 2014
Frequent moviegoers important to the bottom line
Figure 6: Services worth a price premium, by all and frequent moviegoers, August 2014
Moviegoers are eager for more premium services
Figure 7: Average amount willing to pay for premium service (excluding zeros), August 2014
What we think

Issues and Insights

How high can ticket prices go?
The issues:
The implications:
Why should viewers go to the movies when they are already paying for multiple video subscriptions at home?
The issues:
The implications
Will new media channels erode movies’ core demographic?
The issues:
The implications:

Trend Application

Trend: Sense of the Intense
Trend: Old Gold
Mintel Futures: Access Anything Anywhere

Market Size and Forecast

Key points
Total movie theater revenues stagnant
Figure 8: Total US movie theater revenues and forecast, at current prices, 2009-19
Figure 9: Total US sales of movie sales and rentals, at inflation-adjusted prices, 2009-19
Fan chart forecast
Figure 10: Total US retail sales and fan chart forecast of movie theaters, at current prices, 2009-19

Segment Performance Overview

Key points
Admissions driving revenue growth for theaters
Figure 11: Total US movie theater revenues, at current prices, by segment, 2012-14

Segment Performance – Box Office Admissions

Key points
Declining attendance to limit admissions growth
Figure 12: Total US retail sales and forecast of box office admissions, at current prices, 2009-19
Figure 13: Total US sales of movie sales and rentals, at inflation-adjusted prices, 2009-19

Segment Performance – Concessions

Key points
Concession sales grow despite attendance declines
Figure 14: Total US retail sales and forecast of concessions, at current prices, 2009-19
Figure 15: Total US sales of concessions, at inflation-adjusted prices, 2009-19

Segment Performance – Advertising

Key points
Advertising now a mature market
Figure 16: Total US retail sales and forecast of advertising, at current prices, 2009-19
Figure 17: Total US sales of advertising, at inflation-adjusted prices, 2009-19

Market Drivers

Key points
Buzz and exclusivity
Changes to release window crimp exclusivity
Key analysis: The potential of independent production
A night out
Figure 18: Average movie ticket cost, at current prices, 2009-14
Figure 19: Average movie ticket cost, at inflation-adjusted prices, 2009-14
3D loses pop
Figure 20: Preference for 3D, April 2010-June 2014

Competitive Context

Key points
The home video challenge
Face off with 2K, 4K, and 8K
Best seats in the house
Golden age makes TV content competitive
One month of Netflix = a single movie ticket
Key analysis: Future of home video and theatrical release intertwined
Figure 21: Barriers to more frequent movie attendance, by visitation frequency, August 2014

Leading Companies

Key points
AMC loses share but increases profits
Regal retains top market share
AMC leads in growth of revenues per screen
Cinemark gains share through acquisitions
Carmike sees whopping 34.5% two-year growth
Figure 22: US box office revenues, by theater exhibitor, 2011 and 2013
Regal casts a wide net; AMC sticks to most profitable markets
Figure 23: Selected statistics for major US theater exhibitors, 2013, as ex

Innovations and Innovators

The living room comes to the multiplex
Reserved seating: soon to be a “prerequisite”?
Dine-in theaters
AMC covers its bases with a range of dining concepts
Other exhibitors start small with dine-in theaters

Marketing Strategies

Overview
Loyalty programs
Social media and online presence
Mobile apps
Other promotions and special events

Attendance

Key points
Smaller audience begets changes in strategies
Key analysis: TV and home video in leadership roles
Figure 24: Past six month movie attendance, May 2006-June 2014
Moviegoing most common among parents and 18-34s
Key analysis: Taking a second look at over-45s
Figure 25: Past six month movie visitation, by demographics, August 2014
Evidence of elasticity in attendance record
Figure 26: Past six month movie visitation, by household income, August 2014
Figure 27: Barriers to more frequent movie attendance, by venue preference, August 2014
One in four moviegoers attend at least monthly
Figure 28: Past six month movie visitation, August 2014
Highest attendance seen among 25-34s and young men 18-34
Figure 29: Past six month movie visitation, by demographics, August 2014
Women feeling the pinch of ticket costs
Figure 30: Barriers to more frequent movie attendance, by gender and age, August 2014

Teen Moviegoing

Key points
Moviegoing less important to today’s teens
Figure 31: Teens' spending money, January 2007-December 2013
Figure 32: Teens' attitudes toward TV and the movies, January 2007-December 2013
Figure 33: Teens' attitudes toward TV and the movies, by gender and age, November 2012-December 2013

Preference for Viewing Location

Key points
Home edging out movie theaters as preferred viewing location
Figure 34: Venue preference to watch movies, August 2014
Women more selective about which movies they see in the theater
Figure 35: Venue preference to watch movies, by demographics, August 2014

Desired Theater Attributes – Viewing Experience

Key points
Price top reason to choose a less convenient movie theater
Figure 36: Reasons to choose a less convenient movie theater, August 2014
Men 18-34 most likely to value sound and picture quality
Figure 37: Reasons to choose a less convenient theater – Viewing experience (have gone or would go), by gender and age, August 2014
More high-income moviegoers choose a better viewing experience
Figure 38: Reasons to choose a less convenient theater – Viewing experience (have gone or would go), by household income, August 2014

Desired Theater Attributes – Environment, Convenience

Key points
Women 55+ value cleaner theaters
Figure 39: Reasons to choose a less convenient theater – Environment and convenience (have gone or would go), by gender and age, August 2014
People of all incomes seek a better theater environment
Figure 40: Reasons to choose a less convenient theater – Environment and convenience (have gone or would go), by household income, August 2014

Desired Theater Attributes – Concessions

Key points
Young adults enthusiastic about dine-in theaters
Figure 41: Reasons to choose a less convenient theater – Concessions (have gone or would go), by age, August 2014
Better concessions options could succeed at all price ranges
Figure 42: Reasons to choose a less convenient theater – Concessions (have gone or would go), by household income, August 2014

Desired Attributes – Prices

Key points
Bargain tickets could drive more frequent moviegoing among women
Figure 43: Reasons to choose a less convenient theater – Prices (have gone or would go), by gender and age, August 2014
Loyalty programs have missed opportunity with lower-income moviegoers
Figure 44: Reasons to choose a less convenient theater – Prices (have gone or would go), by household income, August 2014

Services Worth Paying a Premium

Key points
Better seating worth a premium for most moviegoers
Figure 45: Services worth a price premium, August 2014
Men 18-34 best market for premium-priced features
Figure 46: Services worth a price premium, by gender and age, August 2014
Can 4D be the next 3D?
Figure 47: Services worth a price premium – Average (excluding zero's), by gender and age, August 2014

Impact of Race/Hispanic Origin

Key points
Hispanics most likely to be moviegoers
Figure 48: Past six month movie visitation, by race and Hispanic origin August 2014
Asian and Hispanic moviegoers see 25% more movies than average
Figure 49: Past six month movie visitation, by demographics, August 2014
Blacks and Hispanics willing to pay more
Figure 50: Services worth a price premium, by race/Hispanic origin, August 2014
Hispanics head for theaters with lower costs
Figure 51: Reasons to choose a less convenient theater – Prices (have gone or would go), by race/Hispanic origin, August 2014

Custom Consumer – The Frequent Attendee

Key points
Frequent attendees see value in premium offerings
Figure 52: Services worth a price premium, by visitation frequency, August 2014
Frequent attendees more willing to go out of their way
Figure 53: Reasons to choose a less convenient theater – Viewing experience (have gone or would go), by visitation frequency, August 2014
Figure 54: Reasons to choose a less convenient theater – Environment and convenience (have gone or would go), by visitation frequency, August 2014
Figure 55: Reasons to choose a less convenient theater – Concessions (have gone or would go), by visitation frequency, August 2014
Figure 56: Reasons to choose a less convenient theater – Prices (have gone or would go), by visitation frequency, August 2014

Appendix – Other Useful Consumer Tables

Movie theaters visited
Figure 57: Movie theaters visited, April 2013-June 2014
Desired theater attributes: Viewing experience
Figure 58: Reasons to choose a less convenient theater – Viewing experience (have gone or would go), by gender, August 2014
Figure 59: Reasons to choose a less convenient theater – Viewing experience (have gone or would go), by age, August 2014
Figure 60: Reasons to choose a less convenient theater – Viewing experience (have gone or would go), by race/Hispanic origin, August 2014
Figure 61: Reasons to choose a less convenient theater – Viewing experience (have gone or would go), by venue preference, August 2014
Figure 62: Reasons to choose a less convenient theater – Viewing experience (have gone or would go), by would pay extra for something, August 2014
Figure 63: Reasons to choose a less convenient theater – Viewing experience (have gone or would go), by viewing experience-have gone, August 2014
Desired theater attributes: Environment and convenience
Figure 64: Reasons to choose a less convenient theater – Environment and convenience (have gone or would go), by gender, August 2014
Figure 65: Reasons to choose a less convenient theater – Environment and convenience (have gone or would go), by age, August 2014
Figure 66: Reasons to choose a less convenient theater – Environment and convenience (have gone or would go), by race/Hispanic origin, August 2014
Figure 67: Reasons to choose a less convenient theater – Environment and convenience (have gone or would go), by venue preference, August 2014
Figure 68: Reasons to choose a less convenient theater – Environment and convenience (have gone or would go), by would pay extra for something, August 2014
Figure 69: Reasons to choose a less convenient theater – Environment and convenience (have gone or would go), by viewing experience-have gone, August 2014
Desired theater attributes: Concessions
Figure 70: Reasons to choose a less convenient theater – Concessions (have gone or would go), by gender, August 2014
Figure 71: Reasons to choose a less convenient theater – Concessions (have gone or would go), by age, August 2014
Figure 72: Reasons to choose a less convenient theater – Concessions (have gone or would go), by gender and age, August 2014
Figure 73: Reasons to choose a less convenient theater – Concessions (have gone or would go), by race/Hispanic origin, August 2014
Figure 74: Reasons to choose a less convenient theater – Concessions (have gone or would go), by venue preference, August 2014
Figure 75: Reasons to choose a less convenient theater – Concessions (have gone or would go), by would pay extra for something, August 2014
Figure 76: Reasons to choose a less convenient theater – Concessions (have gone or would go), by viewing experience-have gone, August 2014
Desired theater attributes: Prices
Figure 77: Reasons to choose a less convenient theater – Prices (have gone or would go), by gender, August 2014
Figure 78: Reasons to choose a less convenient theater – Prices (have gone or would go), by age, August 2014
Figure 79: Reasons to choose a less convenient theater – Prices (have gone or would go), by venue preference, August 2014
Figure 80: Reasons to choose a less convenient theater – Prices (have gone or would go), by would pay extra for something, August 2014
Figure 81: Reasons to choose a less convenient theater – Prices (have gone or would go), by viewing experience-have gone, August 2014
Desired theater attributes: Convenience
Figure 82: Reasons to choose a less convenient theater – Convenience (have gone or would go), by gender, August 2014
Figure 83: Reasons to choose a less convenient theater – Convenience (have gone or would go), by age, August 2014
Figure 84: Reasons to choose a less convenient theater – Convenience (have gone or would go), by venue preference, August 2014
Figure 85: Reasons to choose a less convenient theater – Convenience (have gone or would go), by would pay extra for something, August 2014
Figure 86: Reasons to choose a less convenient theater – Convenience (have gone or would go), by viewing experience-have gone, August 2014
Services worth a price premium
Figure 87: Services worth a price premium, August 2014
Figure 88: Services worth a price premium, August 2014
Figure 89: Services worth a price premium, by gender, August 2014
Figure 90: Services worth a price premium, by age, August 2014
Figure 91: Services worth a price premium, by household income, August 2014
Figure 92: Services worth a price premium, by venue preference, August 2014
Figure 93: Services worth a price premium, by would pay extra for something, August 2014
Figure 94: Services worth a price premium, by viewing experience-have gone, August 2014
Figure 95: Services worth a price premium – Average (excluding zero's), by gender, August 2014
Figure 96: Services worth a price premium – Average (excluding zero's), by race/Hispanic origin, August 2014
Figure 97: Services worth a price premium – Average (excluding zero's), by venue preference, August 2014
Figure 98: Services worth a price premium – Average (excluding zero's), by viewing experience-have gone, August 2014
Barriers to more frequent movie attendance
Figure 99: Barriers to more frequent movie attendance, by gender, August 2014
Figure 100: Barriers to more frequent movie attendance, by age, August 2014
Figure 101: Barriers to more frequent movie attendance, by household income, August 2014
Figure 102: Barriers to more frequent movie attendance, by race/Hispanic origin, August 2014
Figure 103: Barriers to more frequent movie attendance, by venue preference, August 2014
Figure 104: Barriers to more frequent movie attendance, by would pay extra for something, August 2014
Figure 105: Barriers to more frequent movie attendance, by viewing experience-have gone, August 2014
Preferences for movie type
Figure 106: Type of movie usually seen, May 2006-June 2014
Figure 107: Type of movie usually seen, by I am a regular movie theater goer, April 2013-June 2014
Figure 108: Type of movie usually seen, by race/Hispanic origin, April 2013-June 2014
Figure 109: Timing for seeing a new movie, May 2006-June 2014
Figure 110: Timing for seeing a new movie, by demographics, April 2013-June 2014
Figure 111: Preference for 3D, April 2010-June 2014
Figure 112: Preference for 3D, by demographics, April 2013-June 2014

Appendix – Trade Associations

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