With the industry coming off its worst quarter in the past three years, this year’s CinemaCon conference was defined by discussion about what steps studios and exhibitors can take to reclaim their mojo. Cinema United President & CEO Michael O’Leary emphasized the essential step of convincing every major studio to honor a 45-day exclusive theatrical window for their new releases.
O’Leary spoke to the assembled masses during his Tuesday morning “State of the Industry” and the live Ticket to Ride podcast recorded during the industry group’s Independent Theatre Operators Coalition seminars on Monday. In both settings, he challenged the studios to support moviegoing by honoring a 45-day window and investing in the promotion of mid-budget titles, which he described as the “life-blood” of the industry.
The studio perspective was also well represented at the conference. During Universal’s widely-praised CinemaCon presentation, Chairman Donna Langley challenged theatres to invest in providing a theatrical experience that’s “better than what audiences find at home.” Langley underlined Universal’s box office success as evidence that her studio was doing its part to support the theatrical box office.
Since 2021, Universal has had more top-five hits at the global box office than any other studio. That said, they are also criticized for holding on to their policy of releasing their movies online within as little as 17 days after their movies first appear in theatres. Arguing in the opposite direction, AMC CEO Adam Aron announced that three of the six major studios have committed to a 45-day theatrical window, though he did not publicly announce which studios were on that list.
Another idea some studios have floated is for exhibitors to engage in “dynamic ticket pricing” as a way to appeal to budget-conscious consumers. In the past, AMC Theatres attempted to charge more for seats in the center of each auditorium, and less for seats far up front, in the back, or on the sides of the auditoriums.
Paramount stepped in with a discount program that was specific to one of their movies, 80 FOR BRADY, which opened on the weekend before the Super Bowl in 2023. In that case, they partnered with exhibitors to offer discounted ticket prices that averaged under $10. This program wound up being successful for the studio, exhibitors and audiences.
Some have argued that discounted prices for mid-budget titles could drive additional traffic to the theatre. However, many theatre owners are unconvinced, feeling that this “cheapens the product” and signals that these movies are of a lesser quality. Despite the open brainstorming on solutions, it appears for now that both studios and exhibitors are willing to ride it out, without making substantial changes to windows or ticket pricing.
