Theater owners group optimistic about future of moviegoing
John Fithian, the outgoing CEO of the National Association of Theater Owners, assured exhibitors Tuesday at the CinemaCon trade convention that the industry is “off to an incredible start in 2023.”
LAS VEGAS AP" target="_self">(AP) — For the movie theater industry, the math behind recovery is simple: More movies in theaters equals more money for theaters and Hollywood.
John Fithian, the outgoing CEO of the National Association of Theater Owners, assured exhibitors Tuesday at the CinemaCon trade convention that the industry is “ off to an incredible start in 2023.”
In 2022, the domestic box office rebounded to $7.4 million, aided by the enormous successes of films like “Top: Gun Maverick” and “Avatar: The Way of Water.” According to a report from The Cinema Foundation, the biggest difference between the pre-pandemic landscape of 2019 and 2022 was the number of wide releases. In 2019 there were 112 wide releases. In 2022, there were 71 movies that opened on over 2,000 screens. Eight of them grossed over $300 million domestically and 18 surpassed $100 million, the foundation found.
“This year, we will have more than 100. And new titles are being added at a steady place,” Fithian said. “The major studios are all aggressively claiming release dates for major titles in 2024 and beyond.”
