In a time where the entertainment industry is struggling to attract audiences and the box office is experiencing a drought of content, Fathom Events has defied the odds by achieving record revenue gains. With a rich history of 20 years, Fathom Events, a joint venture between theater giants AMC, Regal, and Cinemark, has made a name for itself by bringing alternative content to the big screen. This includes classic Hollywood films, live theater and opera productions, concerts, and even television series. Their recent foray into specialty distribution has seen them deliver hits such as “The Blind,” “The Chosen,” “Jesus Thirsts,” and “Waitress: The Musical” to eager audiences.
In the year 2023, Fathom Events achieved a monumental milestone by generating $100 million at the box office, marking a significant 116% increase from 2019 levels and becoming their highest-grossing year to date. The momentum continued into 2024, with the company raking in $43 million in the first quarter alone, showcasing a remarkable increase of almost 140% compared to the previous year. Fathom’s strong relationships with major Hollywood studios and its extensive reach, as the collaboration between the industry’s top three theater chains, have solidified its position as a dominant force in the box office landscape.
Fathom Events offers a unique value proposition by revitalizing older films and rejuvenating the theatrical experience. By primarily focusing on event films and anniversary re-releases, Fathom has tapped into a growing trend where moviegoers are eager to relive the magic of beloved classics on the big screen. This approach not only brings joy to audiences but also generates additional revenue for theaters long after the initial theatrical run of these films. According to Paul Dergarabedian, senior media analyst at Comscore, these anniversary re-releases have created a win-win situation for both movie fans and theaters.
In the aftermath of the pandemic, Fathom Events emerged as a lifeline for smaller cinema operators who were grappling with a shortage of content due to production shutdowns caused by the pandemic and strikes. The fourth season of “The Chosen,” a popular faith-based television show centered on the life of Jesus, proved to be a massive success, generating $32 million at the box office for Fathom. This contribution accounted for approximately 75% of their first-quarter earnings, demonstrating the significant impact of Fathom’s offerings on smaller theaters.
Fathom Events has also found success in celebrating milestone anniversaries and showcasing classic cinema titles. Each year, they bring back iconic films to commemorate significant years alongside fan-favorite selections. The company’s dedication to providing audiences with the opportunity to experience classic films in a new way has resonated with moviegoers, both young and old. By curating a diverse lineup that includes Studio Ghibli Fest screenings and highlighting landmark anniversaries such as “The Wizard of Oz,” “Gone with the Wind,” and “Steel Magnolias,” Fathom continues to attract audiences of all ages.
In addition to their commitment to classic cinema, Fathom Events has embraced innovation by introducing immersive formats such as 4DX screenings. By incorporating motion seats, practical effects, and sensory elements, Fathom has elevated the movie-watching experience and enticed audiences to revisit familiar favorites in a whole new light. Their upcoming screenings of “Coraline” in 3D, celebrating its 15th anniversary, have already garnered significant presales, indicating a strong demand for these enhanced viewing experiences.
Despite the challenges faced by the entertainment industry, Fathom Events has emerged as a beacon of success, redefining the traditional box office model and captivating audiences with their diverse offerings. Through their strategic partnerships, innovative approaches, and commitment to delivering exceptional content, Fathom has proven that there is still a thriving market for classic cinema experiences. As they continue to push boundaries and challenge norms, Fathom Events remains a driving force in shaping the future of theatrical entertainment.