Growing popularity of global box office market is a prime factor which has strengthened the market for movie theaters worldwide. With a prime focus on U.S. market, a new study titled “Movie Theaters - US - October 2017” has been broadcasted to the wide repository of Market Research Hub (MRH), which offers a clear overview of the movie theaters market along with a stern focus on the issues and perceptions prevailing in the sector. In addition to providing information on a varied range of parameters including the shift in customer behavior and several aspects driving the market’s growth, this report also includes a detailed insight of the prominent vendors, their latest services, market size, and the competitive scenario.
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According to the study key findings, total movie theater revenues are estimated to reach $17.2 billion in 2017, representing a 23.1% increase from 2012-17. As ticket prices rise and theater menus expand, research forecasts total movie theater revenues will grow 18.4% over the next five years to reach $20.4 billion in 2022. Some of the prime factors in the market include; teens, kids are more likely to see movies and go to watch movies in theater. Sequel fatigue limiting big blockbusters, action tops preferred genres, and studios respond and growth in Hispanics could open movie market. Another vital factor in the movie theaters market is the rising demand for high-quality movies. It has been analyzed that millennials and Hispanic moviegoers are in favor of allowing social media use in theater, but most would prefer silence and darkness.
There are so many issues in the market, which are somehow hampering its market growth, such as, accessibility of movies online with high quality, which is why service providers are competing with online quality, Hackers leak exclusive content, Short runs place emphasis on opening weekend, Instant access to movies in theaters, streaming service syndrome and spoilers impaction on customers. Despite several issues, steady growth is forecasted in the U.S. movie theaters market. The research has been further presented a brief analysis of moviegoer segments, which include sentimental cinephiles, film fanatics, eager agreeable, social selectives, and bored bystanders.
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Movie theaters face stiff struggle from other content providers for consumer’s holiday time and dollars. One-third people in the U.S. are going to the movies less frequently than they did five years ago because suburban residents need relevance, and urbanites are too busy in their life and expenses continues to be an issue in the market. In addition, box office is currently struggling, while concessions are promising.
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