Driven by evolving audience preferences and a fresh perspective on cinema as an immersive experience, cinemas worldwide are undergoing a rapid transformation
The cinema industry is experiencing a significant transformation. With cinema now viewed as a holistic customer experience, various factors influence moviegoers, including screen formats such as IMAX and Dolby, food and beverage offerings, parking, and family friendliness.
Recognizing these needs, exhibitors worldwide are making strategic investments in new builds, refurbishments, and technology. According to the Global Cinema Federation (GCF), exhibitors are projected to spend around US$2 billion globally in 2023-2024, showcasing their confidence in the future of the big screen experience.
Out of the total US$2 billion investment, US$1 billion is expected to go towards new builds, US$600 million towards refurbishments, and US$400 million towards technology. Now that we know which areas exhibitors are investing in, let’s also break down the major factors driving them to embark on this substantial level-up:
To stand out from home viewing, cinemas are investing in modern amenities such as in-seat dining, luxury recliners, and interactive games. This creates a more immersive and social atmosphere where watching a movie becomes a complete experience. From arriving at the theater to enjoying photo opportunities, giveaways, product samples, and lobby activities, the cinema visit must be memorable.
Affluent moviegoers see cinema as an essential part of their social lives, and prefer theaters with luxurious amenities. A recent YouGov survey, reported by the Video Advertising Bureau, found that 73% of affluent moviegoers with household incomes of US$100,000 or more favor theaters offering unique amenities and fine dining, enhancing their overall experience.
IMAX, Dolby Cinema, and other premium formats are gaining popularity with more and more titles being made for these experiences. Cinemas are investing in these formats to provide superior viewing options, meeting the growing demand for high-quality cinematic experiences.
Google Trends analytics show a surge in searches when a movie is announced or stars are attached. When trailers are released, fans flock to social media, turning awareness into excitement. This anticipation lingers until the movie hits theaters. Hence, exhibitors recognize the need to be part of this conversation through their online presence and maintaining engagement. Cinemas announcing social media competitions with big prizes are prime examples of leveraging this trend.
With several highly anticipated blockbusters, including the most “filmed for IMAX” releases in a year, set for 2025, cinemas are leveling up to handle the influx of eager moviegoers and offer the best possible experience for audiences.
These strategic investments demonstrate the industry’s commitment to evolving and enhancing the cinema experience, ensuring it remains a beloved pastime for audiences worldwide.
Source: Global Cinema Federation, VAB News
META Cinema Forum brings cinema stakeholders from the Middle East, Africa, Asia, CIS countries and Turkey to address the demand of theatre facilities and shortage of film contents in certain markets while the overall industry shows strong growth in the MEA region.
The next edition of the META Cinema Forum will address the demand-supply mismatch in film contents and theatre facilities across the Middle East and Africa which will be held from October 25 to 26, 2022, at the Atlantis the Palm, Dubai.
Cinema industry stakeholders from Turkey, Asia and CIS countries will join the META Cinema Forum, making it a truly global cinema industry convention that has become one of the must-attend global cinema conventions.
More than 500 industry delegates, experts and participants will discuss and debate the opportunities and challenges faced by the industry stakeholders at the META Cinema Forum. More than 60 suppliers will display the latest products and services that boost the moviegoer experience. The two-day mega cinema industry conference will be followed by a three-day META Film Fest that will screen over 40 shortlisted full feature films, documentaries, and short films along with premieres of highly anticipated releases of 2022 at the VOX Cinemas at the Nakheel Mall.
“META Cinema Forum has become an international platform for the global cinema industry community to build partnerships and bridge the content gap, and to discuss ways to expand cinema chains into emerging markets,” Leila Masinaei, Managing Partner, Great Mind Events Management, said.
META Cinema Forum also complements the development of the creative economy whose contribution could make a significant impact in the Middle Eastern and African countries. It will boost the Dubai Creative Economy Strategy that aims to transform the emirate of Dubai into an international destination for creativity and the capital of the creative economy by 2025.
A recent report, The Future of the Creative Economy, by Deloitte, shows that the creative industry employed nearly 20 million people in nine countries.
“The nature of the creative economy will continue to change and specific businesses and sectors will thrive or decline. New sectors could emerge entirely. However, we can be optimistic that the creative economy as a whole is likely to grow over time,” Deloitte said in its research paper.
The Dubai Creative Economy Strategy aims to double the contribution of the creative industries to the GDP of Dubai from 2.6 per cent in 2020 to 5 per cent by 2025. It also seeks to more than double the number of Dubai-based creative companies from 8,300 in 2020 to 15,000 by 2025, and more than double the number of creators based in the emirate, from 70,000 in 2020 to 140,000 by 2025.
META Cinema Forum is the first and so far, the only cinema industry-focused convention in the Middle East and Africa region that has one of the fastest growing entertainment industries in the world where governments and the private sector are investing heavily in entertainment facilities to diversify economies and reduce dependency on a single economic sector.
The event brings all the stakeholders on a single platform to brainstorm on the growth of the industry and identify opportunities going forward. It will host seminars, awards, premieres of new movies, workshops, and masterclasses, and showcase new products and exclusive slate content presentations.
META Cinema Forum is backed by all the leading industry players. The event is supported by VOX Cinemas as the Strategic Cinema Partner, and the National Film Authority joining as Supporting Partner. Other leading industry partners include Universal Pictures International, Warner Bros. Entertainment, AMC Cinemas, Cinepolis Gulf, Maison SU, Cinemarine, CineBodrum, FilmHouse Cinemas, Golden Scene, Cinema Plus, Dolby, ME Cinemas, Starz Play, Cinepax and Empire Entertainment.
Motivate Val Morgan is a media partner for this year’s META Cinema Forum.
Source: META Cinema Forum
