The Cinema Foundation’s inaugural State of the Cinema Industry Report has been released. It paints an optimistic picture of an industry that has “returned to their feet” in 2022..
The report is an American non-profit that was created by the US National Association of Theatre Owners.
Foundation president Jackie Brenneman stated that “product supply” was the main problem, with only 71 wide releases in 2022 compared to 112 in 2019. The report shows that North America’s screen count dropped by 5% to 42,063, in the period between 2019 and 2022. It adds that 39% of the remaining North American exhibitors plan to add premium large format (PLF), screens over the next three-years. This is 14% of North American box-office revenue last year.
The worldwide screen count increased 5.8% between 2019 & last year, according to the report. It reached 212,590. Brenneman stated that there were territories that had better years than before the pandemic in terms of their box office, such as Nigeria. “There is room for growth in some territories,” Brenneman said.
The average North American cinema ticket price was $10.53 in 2022, which is less than the inflation-adjusted prices of 2019 and 1971.
The Foundation report discusses streaming and theatrical windows. It says that streaming is an important part of a film’s distribution plan but not as important as theaters which remain primary within the film ecosystem.
The report highlights the results of the first US National Cinema Day. The $3-a-ticket event was held last September. 59% of those who attended have been going to the cinemas more frequently since then. Brenneman said that the Foundation plans on staging another National Cinema Day in the US this year.
The report tracks interest in alternative content in cinemas. It shows that 77% of viewers are interested in watching television episodes on the big screen, and 19% would be willing to pay more for the experience than the average film ticket price. Seventy-two percent of audiences are interested in seeing concerts on the big screen, according to the report.
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