From CNBC: 2024-06-30 11:21:20

Fathom Events, a joint venture between AMC, Regal, and Cinemark, has seen record revenue gains recently by bringing alternative content to the big screen, including classic Hollywood titles, theater productions, and concerts. In 2023, Fathom generated $100 million at the box office, a 116% increase over 2019 levels, with $43 million in the first quarter of 2024.

Fathom’s value proposition lies in breathing new life into older films and theaters, with a focus on event films and anniversary re-releases. The company, with strong relationships with Hollywood studios, acts as a crutch for smaller cinema operators by providing content during shortages caused by the pandemic and production shutdowns.

The company celebrated various anniversaries this year, including “The Wizard of Oz,” “Gone with the Wind,” and “Steel Magnolias,” along with a film series featuring works from Studio Ghibli. The lineup includes classics like “Howl’s Moving Castle,” “Kiki’s Delivery Service,” and “Pom Poko.”

Recent successes include a three-weekend run of the Lord of the Rings trilogy, which generated $8.2 million at the box office and sold out every show. Audiences are eagerly buying tickets for a 3D showing of “Coraline,” with presales selling seven times more tickets than last year, two-thirds of them for the 3D version.

Fathom Events’ success is attributed to its wide reach and marketing efforts, handling the heavy lifting for smaller theater chains. The company’s ability to build relationships with studios and market classic films effectively provides value and revenue opportunities for theaters across the country.



Read more at CNBC: Fathom, joint venture of AMC, Regal, Cinemark, makes major gains