The resurgence of legacy films at cinemas has led to significant revenue gains for studios, exhibitors, and filmmakers alike. A recent example is Laika’s 2009 stop-motion animated film “Coraline”, which grossed $33.6 million domestically when re-released through Fathom Events in August.
Fathom CEO Ray Nutt attributes the renewed interest in legacy films to the pandemic, which left theaters starved for content. He notes that the company’s targeted repertory releases helped reunite audiences with movie theaters and drive demand for revivals.
However, studios face challenges in leveraging their library titles effectively. Distribution heads admit that driving an audience requires more than just big titles; it involves creating a unique experience, such as remastering films in 3D or adapting them to new technologies like 4DX.
A24’s recent success with the Talking Heads concert film “Stop Making Sense” demonstrates the importance of marketing and partnering with exhibitors. The studio’s efforts helped boost domestic sales by over $5 million, highlighting the demand for these types of events.
Industry analyst Jeff Bock predicts that this trend will continue, stating that moviegoers want to see films outside of their home and that “Coraline” represents a growing demand for cinema experiences.
The success of legacy films has also led to an increase in revenue for Fathom, with the company taking in $74 million from its 2024 legacy releases – a 311% increase from 2022. As studios continue to explore new ways to revive their titles, it’s clear that the future of the cinema industry will be driven by these types of innovative re-releases.
Source: https://variety.com/2024/film/news/interstellar-rerelease-box-office-success-old-movies-in-theaters-1236245101