If it isn’t a superhero or a dinosaur, there’s a growing chance moviegoers aren’t buying tickets.
More than ever before, blockbusters – like the latest entry in the Minions franchise and megahit Jurassic World — are devouring box-office ticket sales at the expense of other films.
And the shift is expected to only intensify heading into the holiday season, as audiences prepare for Star Wars: Episode VII – The Force Awakens, billed to be one of the top-grossing films in Hollywood history.
Advance ticket sales for Star Wars have already shattered previous records, which has the head of theatre chain Cineplex Inc. predicting that attendance will soar to near historical levels for the company.
“It’s the highest we’ve ever had — by far,” Cineplex’s chief executive Ellis Jacob said of presales, though he declined to provide actual numbers.
The pending release of Star Wars comes at a time when Cineplex is already riding high on a handful of huge hits.
Earlier this year, the company reported that advance ticket sales for Avengers: Age of Ultron raked in more than $4 million, smashing the record previously held by Harry Potter: Deathly Hallows Pt. 2.
To respond to Star Wars demand, Cineplex is adding extra blocks of advance tickets for the film, due on Dec. 18.
Like most North American movie chains, Cineplex has been dealing with outsized hits and deep misses all year long, a sign that moviegoers are shifting the way they view movies, as the popularity of Netflix and other video streaming services alter the industry.
In the second quarter, which marked the start of summer movie season, a trio of Hollywood smashes dominated the exhibitor’s box office, with The Avengers: Age of Ultron, Jurassic World and Furious 7, representing 43.5% of box-office revenue.
The impact on the final half of summer movie season was less pronounced, with nearly 30% of the box office coming from Minions, the latest Mission: Impossible instalment and Ant-Man.
Cineplex Inc. said attendance during the third quarter was up 7.6% to 19.4 million patrons from a year ago.
Revenue from Cineplex’ Media division (which includes both revenues from in-theatre advertising clients and its digital signage network) was $34.4 million for the three month period ending Sept. 30 (up from $32.0 million in the same period in 2014).
Revenue jumped 9.8% to a record $328.2 million as more people bought premium-priced tickets for its VIP cinemas and the Imax screen.
The Toronto-based company’s net income was up 34.7%, rising to $21.4 million or 34 cents per share from $15.9 million or 25 cents per share.
Concession revenue per person was up 5.9 per cent to $5.38 from $5.08, while box office revenue per patron declined 0.8 per cent to $9.09 from $9.16.
