Movies like “Avengers: Endgame,” “Dunkirk,” and “Detective Pikachu” are helping to expand movie theater formats across the country. Alongside the traditional projection and digital formats, studios release these blockbusters in IMAX, 3D, Dolby Cinema, and the newer ScreenX. The latter is growing in popularity, grossing over $22M in the worldwide box office over the last five months. That’s an 85% increase over the same period last year. The surge in enhanced viewing formats shows an eager market for a new moviegoing experience and a promising venture for local theaters.
ScreenX expanded its reach across the US, Japan, Vietnam, Korea, China, Indonesia, and Turkey, and the company saw an increase over last year’s gross in each market. In comparison to last year’s record, the box office gross increased fourfold in the US and doubled in Japan.
The format started small, releasing eight Hollywood films in 2018. Six films have already been released in the ScreenX format in the past five months, including Warner Bros. Pictures’ “Godzilla: King of the Monsters.” In 2019, “Alita: Battle Angel,” “Captain Marvel,” “Shazam!,” “The Curse of La Llorona,” “Pokemon Detective Pikachu,” and “Godzilla: King of the Monsters” released in the ScreenX format, and we are only halfway through the year.
“ScreenX is getting the spotlight as one of the most desirable movie formats from Gen Z and millennials across the globe in the international movie markets that include US, China, and Europe,” said JongRyul Kim, CEO of CJ 4DPLEX. “We are incredibly proud of the growth of ScreenX on a global scale and look forward to continuing to create unique moviegoing experiences for audiences around the world.”
If haven’t given the format a try, ScreenX is the world’s first multi-projection theater technology. The format allows a 270-degree panoramic movie watching experience, hoping to enhance the normal view and add a sense of immersion. ScreenX utilizes a proprietary system to expand the center screen image to the side walls, surrounding audiences and providing a sense of being inside the movie. As of May 2019, ScreenX is available in 218 auditoriums spanning 19 countries.
The next big releases are Sony Pictures’ “Spider-Man Far From Home,” which hits theaters on July 5th, and “Annabelle: Comes Home,” which releases on June 25th. The movies will also release in 35MM, Digital 3D, IMAX, and the IMAX 3D formats. You’ll want to check local listings to find a ScreenX compatible theater to enjoy the experience.
The rise in popularity comes at a time when movie theaters are vying for your loyalty. AMC and Regal are pushing their loyalty rewards programs harder than ever, and even Fandango and Atom Tickets are offering more perks to frequent ticket buyers. The battle at the box office is also affecting ticket prices. The average movie ticket in the United States fell from $9.11 in 2018 to $9.01 in 2019. The last time ticket price fell was in 1993, when nationwide prices fell by an average of 1 cent.
The fall in ticket prices, the abundance of big budget superhero movies, and a competitive market are all possible factors in the rise of the new formats. Many moviegoers are also looking for an enhanced experience over their home setups, which are becoming more and more elaborate. The price of 4K TVs hit an all-time low on sites like Amazon this year, including Dolby Atmos soundbars, 5.1 surround sound, and brilliant projectors. With these units becoming more popular in traditional home theater setups, movie theaters have to work harder than ever to get would-be buyers out of the house and away from their screens.
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