Reason Why U.S. Lost More Than 2000 Theaters
Due to the pandemic, theatres in the US have become smaller, and as a result, the average ticket now costs $10.53. Typically, NATO, which checks ticket prices, discovered that, when inflation is taken into account, the cost of seeing a movie in 2022 is actually less than it is in 2019. Nevertheless, this is because movie theatres are getting smaller because of the COVID pandemic. The vast bulk of the audience has switched to OTT. According to reports, the number of cinema screens in the U.S. decreased by 5.3 percent from 41,172 in 2019 to 39,007 in 2022.
The research also emphasised the advantages of theatrical distribution over streaming, the risks of piracy, technological advancements in the sector, and future potential. It is claimed that going to the movies will be a terrific experience because there are many opportunities for both exhibitors and studios. It will now be interesting to watch how many businesses permanently close their doors and how many reopen. They want to witness a variety of genres, including drama, romance, horror, and action. In actuality, Top Gun: Maverick and Elvis drew a sizable older audience.
Consumers are willing to pay more for unique experiences and alternative material on the big screen, which is an important discovery. A longer time for theatrical release will also prevent the pirate spikes that happen when a movie is released at home.