How Cinemark Competes to Attract Moviegoers in the Age of Netflix
“Even in the midst of a lot of great alternatives at home, people are getting out of their houses to go see a lot of different movies, and it’s not just all ‘Avengers: Endgame,’” Cinemark CEO Mark Zoradi says
The theater business is proving a challenge in 2019: Fighting the pull of Netflix and finding new ways to overcome so-called franchise fatigue is the new normal.
Hollywood studios raked in a record-setting $11.9 billion at the domestic box office last year. Nearly halfway through 2019, it’s down more than 10% compared to the same point last year and down roughly 2% compared to 2017, when the overall box office grossed $11.1 billion.
Box office analysts, Hollywood executives and cinema chain CEOs predicted 2019 would be a bigger box office year than 2018. Cinemark CEO Mark Zoradi told TheWrap he believes it still will.
“Even in the midst of a lot of great alternatives at home, people are getting out of their houses to go see a lot of different movies, and it’s not just all ‘Avengers: Endgame,’ though that was a giant hit,” Zoradi said. “It’s the old adage: If studios make great content, and we exhibitors create a really good guest experience, you get record years. That’s what you had in 2018 and what I think will happen in 2019.”
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