Domestic Box-Office Hits Record $11.4 Billion

With the last few days of 2016 left to go, year end estimates have come in with the U.S. domestic box-office poised to close out at the $11.4 billion mark – a record high. Ticket admissions to cinemas, which have been falling in recent years, are looking to flatten out and be on par with last year’s 1.32 billion tickets sold.

Nevertheless, the industry is changing as the box-office totals don’t reflect the shift in viewing habits. In 2016, the top twenty films scored close to 50% of the 2016 domestic box-office. Mid-level movies are dying quickly in the cinemas, a type of film where the recent push for a premium VOD window will likely most benefit.

Amongst other statistics revealed, frequent moviegoers aged 18-24 have fallen 34% since 2012, while those aged 25-39 dropped 25% over the same time frame. On the flipside, cinemas that have upgraded to premium seating such as leather reclining seats and foyers with liquor licenses, have seen considerable improvements with revenue and attendance for these screens up by significant factors.

Source: Deadline