In Las Vegas, industry leader states theaters will endure rise of streaming websites

Wednesday, April 25, 2018|2 a.m.

Two film market leaders told theater owners Tuesday that are optimistic about the motion picture and theatrical exhibition business in spite of concerns about declining participation and competition from streaming services.

New Motion Picture Association of America chief Charles Rivkin and John Fithian, the president and CEO of the National Association of Theater Owners, provided a state of the industry speech at CinemaCon in Las Vegas, saying the strength of the movies being released will determine box-office sales.

“Our business increases or falls on the motion pictures in our cinemas,” Fithian stated.

CinemaCon is a yearly event of theater owners and exhibitors, throughout which they get an appearance upcoming movies from major Hollywood studios and a preview of some of the latest and biggest in theatrical technologies as well as concession alternatives.

Rivkin, who just recently took over the position at the MPAA from Christopher Dodd, stated that 263 million individuals went to the films a minimum of when in North America in 2017– more than three quarters of the North American population. He kept in mind that while package office was a little below the record in 2016, it was on par with the 2015 record. He says he believes the marketplace will always move between record-high or near record years.

He also stressed that he would continue to fight to protect intellectual property with anti-piracy efforts. Film and television account for $16.5 billion in exports, he stated, which the industry supports 2.1 million tasks and $139 billion in salaries every year.

Rivkin was previously the president and CEO of The Jim Henson Company and also acted as the U.S. Ambassador to France and as Assistant Secretary of State for Economic and Organisation Affairs.

“Let’s always provide on the pledge of our imaginative industry: high quality stories that talk to the hopes and dreams of our audience, and will continue to do so for generations to come,” Rivkin stated.

Fithian likewise applauded filmmakers and suppliers for “taking significant actions to attain more diversity and favorable representation on the big screen,” which he says their consumers are “requiring.”

“We are optimistic that 2017 and 2018 will one day be considered as a turning point on this front,” Fithian stated.

Fithian likewise talked to some of the major worries of the motion picture organisation and stated that younger audiences are still enthusiastic spectators. Inning accordance with comScore, moviegoers ages 18-44 constituted 63% of the total ticket office in 2017_up from 61% in 2016. Fithian said that interruption, whether it’s streaming or shortened periods where films are program exclusively in theaters, will not eliminate the theatrical business.

He questioned if “Black Panther,”” Go out “or” Wonder Female “would have been cultural landmarks had they gone straight to streaming.

“I have actually worked with (theater owners) for 26 years. I can’t begin to tell you how frequently reporters have asked me if the movie theater industry is dying. Every decline in admissions suggests secular decrease, every development or enhancement is meant to ‘conserve’ the theater service,” he said. “There has been a great deal of hype about the next ‘disturbance,'” he stated, listing off improvements varying from VHS to the advent of movies launching in theaters and home services the same day. “Yet we never pass away but stay a strong organisation in the face of interruption everywhere else in the home entertainment landscape.”

Leave a Reply

Your email address will not be published. Required fields are marked *