A new report from Bloomberg tells us that movie theater attendance in the US and Canada in 2017 fell to its lowest point since at least 1992. Box Office Mojo estimates that around 1.24 billion tickets were sold in 2017, which is a drop off of 5.8 percent from the previous year. Ticket prices were higher, but domestic revenue also dropped 2.7 percent from last year, from $11.4 billion to $11.1 billion.
Hollywood Reporter estimates that attendance in North American could be at its lowest at an 27-year low. If you look at things from a more global perspective, things look a bit less stressing. Hollywood Reporter points out that global box office revenue hit a record $40 billion this year. This is a 3 percent increase worldwide.
It’s safe to assume that last year’s slump could be due to poor turnout during the summer blockbuster season and why domestic ticket sales fell. Theater attendance in the US and Canada during the summer months fell, hitting a 25-year low, according to the LA Times.
Aside from the slump in blockbuster movies, Bloomberg points out that there are also other factors that come into play as well. Streaming services like Amazon, Netflix, and HBO Go have provided more flexible and better entertainment options, making theatergoers a bit less eager to leave their homes to watch a movie. Then you also have services like MoviePass that threaten to devalue the movie-going experience.
