OK, so box office wasn’t exactly “boffo” this year—film revenues were down 2.3% domestically for 2017 ($11.1 billion per ComScore). But 2016 set the all-time domestic record, so, just sayin’… Rogers & Cowan CEO Mark Owens says this is a long game and the $38.6 billion global movie market is adapting to change better than many other entertainment options. When you add the number of movies Americans see in theaters each year (1.3 billion), the total is more than double that of all our major league sporting events and theme park visits combined (5.4 million).
“Moviegoing is not dead,” Owens insists. “Theaters have created better experiences and it’s an escape for people. I believe we’re on a long term trajectory where film is still the dominant global form of content for the next decade.”