In November, the box office will see three high-profile Hollywood blockbusters compete for viewers’ attention, ticket sales, and TV time.
Disney’s “Moana 2,” Paramount’s “Gladiator II,” and Universal’s “Wicked” all hit theaters within five days of one another, around Thanksgiving. It is anticipated that all three films will do well at the box office both when they debut and throughout the remainder of the year.
However, box office observers question which blockbuster will profit the most from premium ticket sales at a time when consumers are becoming more picky about their spending habits and the movies they will get out of their couches to watch.
Going premium Elevated viewing experiences, such as IMAX, Dolby, Screen X, and 4DX, are available on premium large format screens, also known as PLFs, and they cost more to attend. The actual displays are frequently larger than conventional cinema screens or may have auditoriums with better sound systems or more comfortable seats.
Shawn Robbins, the founder and CEO of Box Office Theory and director of analytics for Fandango’s film division, stated that audiences are drawn to the largest, best, and most immersive theaters. “They sell out first for highly sought-after films, and as those screens and their best seats fill up, opening day sales tend to slow down or spill over into subsequent days rather than carry over into non-premium, traditional auditoriums that are less appealing to the majority of contemporary moviegoers.”
Overall mood during the October 10, 2018, Imax private screening of the film First Man at an Imax AMC Theater in New York City.
Getty Images Entertainment Getty Images Lars Niki
These PLF displays are now found in over 950 theaters across North America, a 33.7% increase from just five years ago, according to Comscore statistics. In 2024, these screens will bring in about $600 million, or 9.1% of the domestic box office.
According to Paul Dergarabedian, senior media analyst at Comscore, “it is impossible to overestimate the significance of PLFs’ growth as a percentage of the yearly box office over the past few years.” “Notably, moviegoers have been drawn to these more expensive movie theater options since the pandemic ended.”
According to Steve Buck of the movie data business intelligence, premium ticket prices currently average about $16.71 per piece, an 8% increase from 2021, when the company first began disclosing these numbers. In contrast, standard tickets cost about $11.82 each, which is a 7.4% increase over 2021 rates.
“For a moviegoer looking for the most immersive experience, the premium format is a big draw and frequently accounts for more than one-third of foot traffic on a tentpole’s opening weekend,” Buck stated.
The National Association of Theatre Owners said in September that the eight biggest theater chains in North America would spend over $2.2 billion to update and modernize their movie theaters, acknowledging the growing significance of these kinds of venues. In addition to improving food choices and adding family-friendly entertainment options like bowling and arcades, this expenditure will be divided among upgrades to laser projectors, immersive sound systems, and seats.
Since most people see movies on conventional digital displays, PLF receipts still only make up a small percentage of total box office revenue. But the fact that PLF’s box office has increased by 33% in just five years is no small accomplishment.