Boxoffice - May 2016

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CONFERENCE RECAP WHAT HAPPENED IN VEGAS BOXOFFICE RECAPS CINEMACON 2016 by Daniel Loria PHOTOS: RYAN MILLER/CAPTURE IMAGING There was an electric energy throughout Caesars Palace in Las Vegas this April, when over 3,500 registered delegates and more than 5,000 attendees congregated for the most important event of the year on the exhibition calendar. While it’s always good to reconnect with colleagues at CinemaCon, doing so following a record year of box office—both in North America ($11.1 billion) and globally ($38.3 billion)—is even better. Strong first quarter figures for 2016 helped brighten the mood even further: a 12.7 percent bump in Q1 box office thanks to the staying power of Star Wars: The Force Awakens and big outings from titles like Deadpool, Zootopia, and Batman v Superman: Dawn of Justice. n With momentum reinforcing exhibition’s relevance in today’s hyper-evolving mediascape, it would have been understandable if conversation had dwelled entirely on last year’s accomplishments. Instead, the overarching dialogue at CinemaCon 2016 focused on the future, with attendees providing intriguing insight into how the theatrical experience will continue to evolve in the coming years. Coming on the heels of a record year, the months ahead represent a compelling opportunity for cinemas to further distinguish themselves as premier entertainment destinations. The industry-wide investment on in-theater improvements is a sign that exhibition is already addressing this challenge. Premium large format, luxury seating, and enhanced concessions offerings are all trends Boxoffice has covered with increasing frequency—spurred by their adoption by multinational circuits and family-owned single-screens alike. NATO President John Fithian focused on consumers’ positive reactions to these features during his State of 40 BoxOffice ® MAY 2016
the Industry address, noting that 2015 was a chance to entice audiences who hadn’t visited a movie theater in a while and therefore “a great time to show off the new amenities our members can offer.” Corrine Thibaut, Coca-Cola’s international customer director for cinema and leisure, echoed this sentiment during one of the panels, stressing that an uptick in admissions creates an incentive to recruit new audiences by showcasing exhibitors’ focus on the theatrical experience. For Thibaut, exhibition can only benefit from reminding audiences that individual cinemas are part of a unique and memorable experience, just as important as the movie itself. “We need to create spaces that sit at the heart of the community,” agreed Jon Barrenechea, project development manager of Picturehouse Cinemas, citing Starbucks’ success in developing a brand concept that consists of people spending time inside their doors. “We need to create that for our cinemas: a space that feels like a part of peoples’ lives.” This adds up to a more intimate cinemagoing experience, one that is seeing the rise of what David Hancock, IHS Technology’s director of film & cinema, calls “premium small format”—boutique locations with a focus on the latest technology and amenities but without the screen count of a multiplex. Hancock considers the future of exhibition closely tied to the “experience economy,” offering consumers value-added premiums to differentiate and customize their night out at the movies. That doesn’t necessarily mean we’ll be seeing smaller screens any time soon. IHS Technology reported nearly 2,000 premium large format screens worldwide by the end of 2015, a number that is set to increase in the coming years. Cinema technology companies Barco and Dolby have been catalysts of that growth, offering exhibitors a suite of their premium offerings—CinemaBarco and Dolby Cinema—in order to bring the latest in sight and sound to a theater near you. Dolby Cinema, for example, has already racked up more than 200 sites worldwide (including commitments) with 38 released or announced titles since its launch in 2015. Dolby Atmos, the company’s immersive-sound format, continues to pick up steam and already numbers more than 1,600 screens in over 60 countries (including commitments) with more than 400 announced titles. Barco, meanwhile, has been stealing headlines since announcing its Escape panoramic-screen format, which it expects to reach 3,000 screens globally in the next five years, counting on China to represent a big chunk of that growth. That goal would have seemed lofty before Cinema- Con, but the company’s efforts in securing high-profile releases in the Escape format have already begun to pay off. Barco announced partnerships with two production companies, Cross Creek Pictures and Fundamental Films, to produce multiple upcoming titles in their Escape format. Barco’s big fish, however, was the announcement that Paramount’s Star Trek Beyond would be released in Escape this summer. A sturdy content pipeline will be crucial for the panoramic-screen format to flourish, and Barco executives expect Escape releases to create demand for their technology with eight titles planned for release in 2017 and twelve titles to come in each subsequent year. South Korean exhibition giant CJ CGV entered CinemaCon just after acquiring Turkey’s leading circuit, Mars Cinema, as it plans to increase its worldwide screen count. CJ’s role in the industry is largely defined by its innovative cinema technologies as well as its CJ 4DPLEX division, which is currently rolling out its own panoramic-screen format, ScreenX, along with its established immersive-seating offering, 4DX. ScreenX has since grown to a total 80 screens in South Korea and a combined 11 screens in the United States, China, and Thailand since its 2015 launch. The company expects that tally to go up to 270 screens worldwide by 2017 and 1,000 by 2020. ScreenX has focused on Asian titles so far, a reflection of the company’s present footprint, but that can change if CJ CGV looks to accelerate its activities in North America—a plausible scenario considering the circuit’s ambition. CJ hopes ScreenX will succeed as a circuit-agnostic premium offering, similar to what its immersive-seating technology, 4DX, has achieved in recent years. 4DX is currently available at 233 sites across 37 countries and is expected to grow to 800 sites by 2017 despite strong competition from companies like D-Box and MediaMation, which have also experienced significant growth overseas. MediaMation, for example, recently announced an agreement to install its 4D seats in 15 to 20 of Dadi Cinema Group’s China locations by year’s end. China is proving JOHN FITHIAN to be a crucial market Filmmaker of the Decade Frank Marshall holds court Moshe Greidinger, CEO Cineworld Group, receives the Global Achievement Award in Exhibition and Duncan Clark, President of Distribution at Universal Pictures International Rich Gelfond, IMAX, and Veronika Kwan-Rubinek, President of International distribution Warner Bros., during the International Day Luncheon MAY 2016 BoxOffice ® 41
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Boxoffice - May 2016

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