In a time when the box office is struggling due to a lack of content and a discerning audience, Fathom Events has managed to defy the odds and post record revenue gains. The joint venture between AMC, Regal, and Cinemark has been in the business of bringing alternative content to the big screen for the past 20 years. This includes classic Hollywood films, live theater and opera productions, concerts, and even television series. Recently, they have also ventured into specialty distribution, bringing films like “The Blind,” “The Chosen,” “Jesus Thirsts,” and “Waitress: the Musical” to audiences. Their upcoming release, “Andrea Bocelli 30: The Celebration,” is highly anticipated.
In 2023, Fathom Events saw a significant increase in revenue, generating $100 million at the box office, a 116% increase over 2019 levels. This marked their highest-grossing year ever. The momentum has only continued into 2024, with the company raking in $43 million in the first quarter alone, up nearly 140% from the year before. Fathom’s strong relationships with major Hollywood studios and its wide reach in the industry, thanks to its partnerships with the three biggest theater chains, have made it a dominant force in the box office.
One of Fathom Events’ key value propositions is its ability to breathe new life into older films and theaters. By bringing back anniversary titles and classic films to the big screen, they offer audiences a chance to experience beloved movies in a new way. This strategy has proven to be a win-win as it not only brings joy to movie fans but also generates additional revenue for theaters, often years after the films’ initial release.
In the wake of the pandemic and production shutdowns, Fathom Events has become a lifeline for many smaller cinema operators. By providing much-needed content for the big screen, they have helped these operators stay afloat during challenging times. For example, “The Chosen,” a faith-based television show about the life of Jesus, generated $32 million at the box office for Fathom, contributing significantly to their first-quarter revenue.
Fathom Events has also found success in celebrating milestone anniversaries of iconic films. This year alone, they marked the 85th anniversaries of “The Wizard of Oz” and “Gone with the Wind,” as well as the 35th anniversary of “Steel Magnolias.” Upcoming anniversary celebrations include the 50th anniversary of “Blazing Saddles,” the 70th anniversary of Alfred Hitchcock’s “Rear Window,” the 40th anniversary of “Neverending Story,” and the 20th anniversary of “Mean Girls.”
Fathom Events’ ability to generate box office revenue from older films is a testament to the enduring appeal of these classics. Their “Studio Ghibli Fest,” featuring all 14 films from the studio in their original Japanese and English dubbed versions, has been a hit with audiences. The company’s re-release of the original Lord of the Rings trilogy resulted in $8.2 million at the box office over three weekends, demonstrating the lasting popularity of these films.
Looking ahead, Fathom Events shows no signs of slowing down. Audiences are already lining up for showings of “Coraline” in August, celebrating its 15th anniversary with a 3D re-release. The film has previously been re-released with great success, showing that there is a growing demand for classic films on the big screen. Fathom’s wide footprint and nationwide marketing efforts have allowed them to reach audiences across the country, doing the heavy lifting for smaller theater chains.
Fathom Events’ success in reviving old films on the big screen is a testament to their innovative approach and strong industry relationships. By bringing beloved classics back to theaters and celebrating milestone anniversaries, they have tapped into a lucrative market of nostalgic moviegoers. As the box office landscape continues to evolve, Fathom Events remains a bright spot, providing audiences with a unique and memorable cinematic experience.