In a time where the film industry is facing challenges due to a lack of content and a more selective audience, Fathom Events has emerged as a standout player, boasting record-breaking revenue gains. This joint venture between AMC, Regal, and Cinemark has been a pioneer in bringing alternative content to the big screen for the past two decades. What sets Fathom Events apart is its unique offering of classic Hollywood movies, live broadcasts of theater and opera performances, concerts, and even television series. Notably, the company has expanded into specialty distribution by providing audiences with an array of captivating titles such as “The Blind,” “The Chosen,” “Jesus Thirsts,” “Waitress: the Musical,” and upcoming releases like “The Journey: A Music Special from Andrea Bocelli.”
In 2023, Fathom Events achieved a significant milestone by generating $100 million in box office revenue, marking a remarkable 116% increase from 2019. The company’s upward trajectory continued into 2024, with first-quarter earnings reaching $43 million, up by nearly 140% compared to the previous year. The secret to Fathom’s success lies in its solid relationships with major Hollywood studios and its extensive reach through partnerships with the industry’s top three theater chains. By breathing new life into both older films and cinemas, Fathom Events has become a formidable force in the box office arena.
Fathom Events’ value proposition extends beyond just screening movies; it revives cherished classics and milestone films for audiences to experience on the big screen once again. Paul Dergarabedian, Comscore’s senior media analyst, acknowledges the growing trend of anniversary re-releases and emphasizes their significance in delighting movie enthusiasts while simultaneously boosting revenues for theaters. Films like “The Wizard of Oz,” “Gone with the Wind,” “Steel Magnolias,” “Blazing Saddles,” “Rear Window,” “Neverending Story,” and “Mean Girls” have been celebrated by Fathom Events to commemorate their respective anniversaries, attracting audiences of all ages to relive the magic of these cinematic gems.
In a post-pandemic landscape, Fathom Events has become a lifeline for smaller cinema operators grappling with content shortages resulting from pandemic-induced production hiatuses. Titles like Season 4 of “The Chosen” have been a financial boon for theaters, with B&B Theatres’ President and Chief Content Officer, Brock Bagby, attesting to the revenue boost brought about by Fathom’s offerings. Such collaborations have not only sustained these cinema operators but also reinvigorated audience interest in classic films, exemplifying the enduring appeal of timeless storytelling on the silver screen.
Apart from anniversary releases, Fathom Events’ Studio Ghibli Fest has captured the hearts of viewers by showcasing all 14 iconic films from the revered studio in their original Japanese and English versions. Titles like “Howl’s Moving Castle,” “Kiki’s Delivery Service,” and “Pom Poko” have enthralled audiences, proving that the appeal of these classics transcends generational boundaries. Noteworthy successes include the re-release of the original Lord of the Rings trilogy, which raked in $8.2 million in box office earnings, highlighting the enduring popularity of these cinematic masterpieces.
Looking ahead, Fathom Events continues to set the stage for future successes with upcoming screenings like the 15th-anniversary celebration of “Coraline” in 3D format. The anticipation surrounding these events is palpable, with presales for “Coraline” exceeding expectations and drawing in a younger audience eager to experience the film for the first time in theaters. By leveraging its expansive network and robust marketing strategies, Fathom Events has proven to be a driving force in bringing classic cinema to a new generation of moviegoers while providing much-needed support to theaters across the country.
The meteoric rise of Fathom Events attests to the enduring appeal of classic films and alternative content in a rapidly evolving entertainment landscape. By embracing nostalgia, fostering audience engagement, and forging strategic partnerships, Fathom Events has solidified its status as a box office phenomenon, breathing new life into theaters and enriching the cinematic experience for viewers of all ages.
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