Fathom, joint venture of AMC, Regal, Cinemark, makes major gains
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At a time when the box office is starved for content and audiences seem pickier than ever, Fathom Events is posting record revenue gains. For 20 years, the joint venture between AMC, Regal and Cinemark has been best known for bringing alternative content to the big screen in the form of classic Hollywood titles, live telecasts of theater and opera productions, concerts and even television series. Most recently, it ventured into the specialty distribution space to deliver “The Blind,” “The Chosen,” “Jesus Thirsts” and “Waitress: the Musical” to audiences. Still to come is “The Journey: A Music Special from Andrea Bocelli.” In 2023, Fathom generated $100 million at the box office, a 116% increase over 2019 levels and its highest-grossing year ever. And that momentum has continued into 2024, as the company tallied $43 million in the first quarter, up nearly 140% compared to the $18 million it tallied in the year-earlier period. Fathom’s relationships with Hollywood’s biggest studios and its cinematic reach — as the partnership of the industry’s three biggest theater chains — has made it a formidable force at the box office. Its value proposition is twofold: It breathes new life into older films, and into theaters. “Falling mostly under the event film banner, anniversary titles have truly come into vogue seemingly more so now than in years past with a particular emphasis given to these beloved older films,” said Paul Dergarabedian, senior media analyst at Comscore. “These anniversary re-releases are a win-win, providing joy to movie fans and notably additional revenues to movie theaters often decades after initial theatrical run.” In post-pandemic times, Fathom has acted as a crutch for many smaller cinema operators, providing much-needed content for the big screen amid a drought caused by pandemic and strike-related production shutdowns. Season 4 of “The Chosen,” a…
Filed under: News - @ June 30, 2024 1:18 pm