At a time when the box office is starved for content and audiences seem pickier than ever, Fathom Events is posting record revenue gains.
In 2023, Fathom generated $100 million at the box office, a 116% increase over 2019 levels and its highest-grossing year ever. And that momentum has continued into 2024, as the company tallied $43 million in the first quarter, up nearly 140% compared to the $18 million it tallied in the year-earlier period.
Season 4 of"The Chosen," a faith-based television show about the life of Jesus, generated $32 million at the box office for Fathom, around 75% of its first-quarter haul. "We've seen that there's a growing segment in the box office, people that are interested in seeing older films on the big screen," said Jordan Hohman, vice president of project development at Phoenix Theatres."These audiences are getting to enjoy classic films, either for the first time or for the first time, in a new way. I think that that's valuable."
"Lord of the Rings was wildly successful nationwide, and for us," Bagby said."We just did 4DX Lord of the Rings this weekend in our new Dallas theater, and we sold out every single show."Audiences are already buying tickets for showings in August celebrating the 15th anniversary of"Coraline," which will be shown widely in 3D for the first time since its original release.
What's more, 53% of the audience who attended screenings of the film last year were 34 years old or younger.
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