The theatrical movie business has long proved to be unusually resilient when it comes to economic downturns. In fact, over the last eight recessions, the box office has increased six times and admissions have gone up five times.

Do movie theaters do well in recession?

US weekly gross box office sales

In the past, theaters have been where Americans went for entertainment when the economy shrank. During the last eight recessions, box office sales increased six times over.

Are movie theaters still profitable?

Key Takeaways. Movie theater chain revenue is growing but remains below pre-pandemic levels. First-quarter earnings expected lag 2019 levels. IMAX could benefit from a shift to premium theater experiences and as Chinese customers return following COVID lockdowns.

Are movie Theatres declining?

In 2019, the US box office grossed $11.4 billion. In 2020, due to the pandemic, the box office gross plummeted to $2.2 billion, an 81% decline from the previous year. Furthermore, the number of movie theaters in the US has been declining steadily for years.

What industries are recession proof?

Historically, the industries considered to be the most defensive and better placed to fare reasonably during recessions are utilities, health care, and consumer staples.

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What industries will suffer in 2023?

What jobs get cut first in a recession?

Will movie theaters survive 2023?

And ticket sales should rise in 2023 as studios release more films. While cinema operators are pleased that studio production has increased, they are no longer taking audiences for granted. To that end, operators have started with upgrading projectors.

Are movie theaters going to survive?

For film fans, "Will movie theaters survive?" has been an ongoing concern. And yet, whether out of movie-loving optimism, showbiz-savvy pragmatism, or both, nearly all of EW's interviewees believe that we'll still be heading to theaters in 2032. "Movie theaters aren't going anywhere!," insists director/writer M.

How are movie theaters doing in 2023?

The 2023 movie box office will need a strong second half after an inconsistent first six months. While the domestic box office has tallied $4.46 billion in movie ticket sales through June 30, a nearly 20% increase over the same period in 2022, it still lags behind pre-pandemic 2019.

Are movie theaters making a comeback?

Movie ticket sales are crawling back to pre-pandemic levels

According to The Numbers, a publicly available database of movie industry statistics, annual tickets sold for 2023 are expected to reach 922 million. That's compared to 2022, where total tickets sold reached 709 million.

Why are movie theaters losing money?

Unwelcome forces — Netflix, 50-inch TVs, the coronavirus pandemic — have buffeted cinemas for years. Now, staggering debt and a severe shortage of big movies to show in the months ahead imperil multiplex chains once again.

What are movie theaters doing to stay in business?

For big chains like AMC, Regal and Cinemark, the emphasis has been on adding live event streams, like concerts, sports and even Dungeons & Dragons campaigns, and upgrading its theaters with state-of-the-art projectors and sound systems.

What industry hurt the most during a recession?

Industries affected most include retail, restaurants, travel/tourism, leisure/hospitality, service purveyors, real estate, & manufacturing/warehouse. Despite the severity of any past downturn, markets have always recovered, and in many cases, they have seen a monster rebound.

Do cinemas have a future?

Overall, the future of cinema and theatrical distribution is likely to be shaped by a combination of these and other factors. The industry will need to be innovative and adaptable to meet the changing needs and preferences of audiences.

Is media industry recession proof?

Media executives are hopeful they've learned lessons and streamlined their businesses to weather a potential recession. Media job losses have spiked in each of the last three recessions. The scope of any advertising pullback is still unknown, although one executive told CNBC a 20% retreat is possible by year-end.

What is the outlook for the movie theater industry?

Movie Theaters in the US industry analysis. Demand for movie theaters will significantly decline through the end of 2023 as a result of intense competition from online streaming platforms. The industry experienced its largest drop in performance amid the COVID-19 pandemic, which fueled at-home viewership.

How long until a movie is out of theaters?

On average, movies run for about four weeks in at least 2,000 theaters, and some films will run in at least 1,000 theaters for another week after that. So, generally, it's safe to say that a two-week run time is a sign that a movie missed the mark.

Is the movie theater industry growing?

The global Movie Theater market size was valued at USD 72092.79 million in 2022 and is expected to expand at a CAGR of 4.41% during the forecast period, reaching USD 93402.2 million by 2028.

Is 2023 a big year for movies?

New Movies Coming Out in 2023: Biggest Film Release Dates Including Marvel, DC, Netflix. It's a big year for sequels, like Guardians of the Galaxy, Extraction 2, John Wick, Dune and Indiana Jones. Meanwhile Christopher Nolan and Taika Waititi are among the year's original stories.

What old movies are coming back to theaters in 2023?

What jobs won't survive a recession?

Jobs that depend on non-essential or luxury goods and services are usually at high risk in recessions. Now, the most at-risk jobs include travel, restaurants, leisure, entertainment, real estate, and auto dealerships.

Which jobs are safest in a recession?