The National Association of Theatre Owners is trumpeting the strength of moviegoing in 2024, saying box office numbers don’t tell the full story.
A new report issued by NATO on Wednesday comes as domestic revenue for the full year looks to be down as much as 5 percent from 2023 in what many believe is a result of a slowdown in product due to the labor strikes and post-production delays due to the pandemic. The good news: before Thanksgiving, revenue was down by 11 percent.
NATO chief Michael O’Leary says it is a mistake to judge the strength of theatrical on box office numbers alone. “Perhaps like no other industry, each week, the success or failure of filmed entertainment is judged through the weekly box office. This legacy tradition, however, does not paint a full picture of the strength of the industry nor of exhibition,” according to O’Leary. “As 2024 draws to a close, it is important to look deeper and consider other fundamentals that illustrate the strength and bright future of theatrical exhibition.”
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NATO, which worked with a number of third-party research parties in compiling the report, focused on several metrics, including consumer enthusiasm, investment in the marketplace and growth in loyalty programs.
In regards to the consumer appetite for the theatrical experience, the report found that 76 percent of Americans between ages 12 and 74 saw at least one movie in a theater this year, which translates to approximately 200 million Americans. This is consistent with pre-pandemic moviegoing data, according to NATO. And movie theaters continue to bring in more people annually than the NFL, MLB, NBA and NHL combined.
And a combined 85 percent of Americans said they plan on going to the movies as often or more often than they did this year in 2025.
In a separate survey of more than 96,000 moviegoers across 14 countries conducted by the Global Cinema Federation, 72 percent of respondents are coming to the cinemas more or the same as six months ago.
In terms of various demos, the report found that going to see a movie on opening weekend is the No. 1 preferred activity among Gen Z females, regardless of time and money (or those between ages 10 and 24), and the No. 2 preferred activity among Gen Z males.
Latino moviegoers also continue to bolster the box office in a major way, and made up 27 percent of those who saw six or more movies in 2024. Also, 45 percent of Latino moviegoers reported a preference for seeing movies on opening weekend, which is 11 percent higher than total moviegoers overall.
In terms of what exhibitors are doing to attract consumers, the NATO report reminded that the top eight circuits are investing more than $2.2 billion in upgrades over the next three years. These investments will run the gamut, from improved projection, sound and screens, to modernized food and beverage options, as well as improved signage, lighting and common areas.
One area that has seen a sharp increase in consumer demand are premium large-screen format auditoriums, which include Imax. According to Comscore, there are 950 theaters in North America that have large-format screens — a 37 percent jump from five years ago. The number of PLF screens around the world has more than doubled since 2016 to 5,700, per Omdia.
“While consumers are responding to various large-screen format offerings, it is important to note that those screens comprise only 9 percent of the annual domestic box office, and every auditorium at your local theater provides a premium experience,” stated the NATO report.
The NATO report also cautioned that while tentpoles are critical to the success of the movie industry, they are only part of the equation. “To truly thrive and sustain the business, smaller and medium-budgeted films must find a place. Comedies, family films, horror and other genres are also fan favorites on the big screen,” stated the report, noting that the number of comedies released in theaters increased by 5 percent in 2024. Horror saw a huge spike, or 38 percent, while the number of independent films released in 2024 was up 25 percent over 2022.
Other highlights: loyalty programs in the U.S. and Canada saw a 12 percent jump in new subscriptions from 2023 to 2024 (there are currently over 118.9 million loyalty club members).
