Revenue forecast for 2017 +3%
Cinema in 2017 is off to a strong start with the Oscar season films across Jan-Feb witnessing a 15% increase in industry revenue, which has been mainly due to the success of La La Land (14 Oscar nominations, 6 wins), Moonlight (8 Oscar nominations, 3 wins) and Manchester by the Sea (6 Oscar nominations, 2 wins). This has now been compounded by Beauty And The Beast opening with a staggering £19.6m; the fifth biggest opening weekend of all time. Only Bond (Spectre and Skyfall), Star Wars: The Force Awakens and the final Harry Potter have higher openings. Across 2017, the industry is forecasting admissions at 171m individuals and for gross revenue to be up 5% year-on-year. This positive forecast is mainly driven by the automotive, retail and telecoms categories.
Last year we saw Rogue One: A Star Wars Story (£50M), Fantastic Beasts and Where to Find them (£50M) and Bridget Jones’s Baby (£48M) taking up the top grossing films. 2017 will be strong performing year with another Star Wars: Episode VIII (£80M), the third installation of Despicable Me (£40M) and Disney’s real life adaptation of Beauty and the Beast (£48M).
In other news, DCM have launched a cinema events team to grow their experiential business, after the success and uplift in innovative campaigns over the last two years. This trend is bound to continue across the forthcoming year, with more integrated AV campaigns and unique events within this space.