Source: Dumb Little Man
Over the last 20 years, nearly 1 in 4 movie theaters have closed. Many people feel the days of the movie theater are behind us, with streaming services like Netflix and Hulu providing premium content from the comfort of home.
In reality, there are more big screens in the United States than ever, despite the lower number of theaters.
The days of the small, dollar theater may be behind us but the multiplex is gaining popularity. And it may surprise you to learn that millennials are driving this trend.But what’s with millennials and movies?
Movie theaters are far from disappearing. Box office revenues have grown over the past three years. In 2017, box office earnings hit a record high at over $40 billion. Of the top ten highest grossing films in history, six were released in the last five years. Moreover, two of these films, Black Panther and Avengers: Infinity War, were out in the first half of 2018 and four are from the Marvel franchise.
Highest Grossing Films Worldwide
- Avatar
- Titanic
- Star Wars: The Force Awakens
- Avengers: Infinity War
- Jurassic World
- The Avengers
- Furious 7
- Avengers: Age of Ultron
- Black Panther
- Harry Potter and the Deathly Hallows, Part 2
Who Goes to the Movies?
The people most likely to go to the movies are millennials who are nearly twice as likely to frequent theaters as any other age group. Common knowledge might say streaming devices are replacing trips to the cinema, but frequent moviegoers actually own more technology than the average adult. From smartphones, tablets, computers to gaming systems and personal assistants, nearly 80% of moviegoers own at least four different types of technology.
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