Tuesday, December 7, 2021

THEATERS, STUDIOS PRAY FOR BIG WEEKEND

November 7, 2014 by · Leave a Comment 

Time Inc.’s Money magazine blog headlined one of its lead items this morning (Friday), "Why Theaters Desperately Need You to Go to the Movies This Weekend." The item pointed out that on Thursday the Cinemark theater chain reported that its revenues were down more than $100 million versus last year, even though it had raised the price of its tickets 3 percent and the average price of its concessions to 6.7 percent. For exhibitors in general, attendance plummeted the during third quarter to 66 million from 81 million a year ago. "Time is running out on the movie business’s prayers that the year as a whole won’t be a disappointment. Which is why industry execs may be hoping a turnaround truly takes hold this weekend," Money observed. On Wednesday, the Los Angeles Times indicated that tracking studies were indicating that such a turnaround may indeed happen, with Big Hero 6 and Interstellar set to open with around $50 million each. If that should happen it would only be the fourth time in history that two new movies opened with more than $50 million. That needs to happen, Rentrak box office analyst Paul Dergarabedian told the Times, if studios are to avoid a "negative momentum situation."