At a time when the box office is hungry for content and audiences appear to be more discerning than ever, Fathom Events is experiencing record revenue growth.
Over the past 20 years, the joint venture between the two parties has aviation medical centerrich and Cinemark Known for bringing alternative content to the big screen, including classic Hollywood films, live broadcasts of theater and opera productions, concerts and even TV series.
Most recently, it has branched out into specialty distribution, offering audiences The Blind Side, The Chosen One, Jesus Desires and Waitress: The Musical. Coming soon is “Journey: A Special on the Music of Andrea Bocelli.”
In 2023, the box office of “Fathom” will reach US$100 million, an increase of 116% from 2019, making it the highest box office year in history. The momentum has continued into 2024, with the company’s first-quarter revenue of $43 million, up nearly 140% from $18 million a year earlier.
Fathom’s relationships with Hollywood’s biggest studios and its cinematic clout (as a partner with three of the industry’s largest theater chains) make it a powerhouse at the box office. Its value proposition is twofold: It breathes new life into old movies and theaters.
“Primarily under the banner of event movies, anniversary films have really taken off and appear to be more popular than they have been in years past, with a special emphasis on these beloved older films,” said Paul Dergarabedian, senior media analyst at Comscore. “These anniversary films have renewed The release is a win-win, bringing joy to moviegoers and especially bringing extra revenue to movie theaters decades after the initial release. “
In the post-pandemic period, Fathom has become a crutch for many smaller theater operators, providing much-needed content to the big screen amid a drought caused by the pandemic and strike-related production shutdowns.
“The Chosen,” a faith-based television show about the life of Jesus, and “Fathom” grossed $32 million, accounting for about 75% of the first season’s box office.
“The fact that ‘The Chosen’ is on (Fathom) is huge for us,” said Brock Bagby, president and chief content, programming and development officer of B&B Theatres. “It’s on the air. February and early March gave us a lot of extra revenue that we wouldn’t have had otherwise.”
“Fathom” also benefited from its anniversary and classic film screenings. Each year, the company brings movies back to theaters to celebrate milestone years with fan-favorites.
“We’re seeing more and more people at the box office interested in seeing older movies on the big screen,” said Jordan Hohman, vice president of program development at Phoenix Theater. “These audiences are coming to appreciate classic films. , whether it’s the first time or not, in a new way I think it’s valuable.”
This year, the company celebrated the 85th anniversary of “The Wizard of Oz” and “Gone with the Wind” and the 35th anniversary of “Steel Magnolias.” Also on the calendar is the 50th anniversary of “Blazing Saddles,” the 70th anniversary of Alfred Hitchcock’s “Rear Window,” the 40th anniversary of “The Neverending Story” and the 20th anniversary of “Mean Girls.”
It also has a film series called “Studio Ghibli Superstars,” which contains the original Japanese and English dubbed versions of all 14 of the studio’s films. This year, the lineup includes the 20th anniversary of “Howl’s Moving Castle,” the 25th anniversary of “Kiki’s Delivery Service” and the 30th anniversary of “Pom Poko.”
These films generate huge box office revenue even decades after their initial release.
“Fathom,” the original “Lord of the Rings” trilogy, opened over three weekends and grossed $8.2 million.
“Lord of the Rings has been a huge success nationally, and it’s been a huge success for us,” Bagby said. “We just screened Lord of the Rings in 4DX this weekend at our new theater in Dallas, and every show was sold out.”
4DX is a screen format that uses dynamic seats, practical effects and sensory elements to immerse viewers in the cinematic experience.
Audiences have already started buying tickets for the August screening celebrating the 15th anniversary of “The Movie,” which will be widely screened in 3D for the first time since the original release.
Fathom has re-released “Ghost Mom” twice previously with great success. In 2022, the film opened in 800 theaters for one day and grossed $1.2 million. Last year, the film extended its run to five days and grossed $7.1 million, making it the highest-grossing classic film in the history of “Fathom.”
According to Comscore, the $7.1 million gross was about 10% of “Monster’s” domestic debut in 2009 and 42% of its opening weekend.
What’s more, 53% of the audience who watched the film last year were 34 years old or younger.
“Even though the film is 15 years old, new audiences are seeing it for the first time,” said Ray Nutt, CEO of Fathom Events.
Fathom reports that this year’s pre-sale tickets for “Ghostbusters” per venue are seven times higher than last year’s same period, with two-thirds of those ticket sales for the film’s 3D version.
Fathom does the heavy lifting for smaller theater chains because of its broad footprint through its parent company and nationwide marketing campaigns.
“(Fathom) built a lot of relationships,” said Phoenix Theatre’s Homan. “They put the licensing deals in place and the marketing behind the re-releases of these classic films that, you know, we couldn’t do on our own. It’s a national event. So, I think they provide a lot of value.”
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