Box Office Glow Might Rub Off24 Apr, 2015 By: Stephanie Prange
If there is an equivalent of a crystal ball for home entertainment, it is the box office take of films in the pipeline. When theaters have more hits, typically studios and retailers sell and rent more home entertainment product.
At the annual CinemaCon trade show in Las Vegas, John Fithian, president and CEO of the National Association of Theatre Owners, offered an optimistic view for 2015. He predicted a record-breaking year for the industry in part based on the quality, genre breadth and expert timing of releases. He also gave a shout-out to the industry’s greater appeal to women moviegoers, citing such films as Fifty Shades of Grey, Cinderella and Insurgent. He said there would be several movies topping $1 billion in box office worldwide. The hits include Furious 7 (already raking in the dough) and the anticipated “Avengers” and “Jurassic Park” sequels as well as the “Minions” spinoff. Of course, the “Star Wars” sequel is a potential blockbuster of galactic proportions.
This is welcome news after a bit of a drought in box office power. As California has thirsted for more rain, so too have the studios suffered a drought in hits. Soon it will be the home entertainment industry’s turn to reap that expected record harvest. But this time there are many more digital competitors in the home entertainment realm that will take a bite out of the crop, putting more pressure on the traditional home entertainment business. If you have a team of all stars and still can’t bring in the trophy, pundits turn to the management to blame.
It is the home entertainment industry’s job to extract as much bounty from this wealth of hits as it can. The pressure is on. New releases have made up an ever-increasing segment of the top 50 sellers on the VideoScan charts. When the new releases are stellar, it makes sense that the home entertainment business will profit. Theaters are throwing the home entertainment industry a soft ball, and the industry needs to hit it out of the park.