‘Cabin Fever’ to Drive Public Back to Theaters: NCM CEO
There’s “strong pent-up consumer demand” to return to movie theaters and “the unique social experience,” said National CineMedia CEO Tom Lesinski on a Q1 call Monday. “Some recent disappointing day-and-date streaming results have many content producers now considering the reestablishment…
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of a new kind of exclusive theatrical window to help launch their films.” The “significant cabin fever” building for more than a year through COVID-19 stay-at-home mandates “will drive consumers back to the theaters,” said ex-Warner Home Entertainment executive Lesinski. “This will once again allow movie studios and even some of the new streaming companies to rely on theaters to launch their films and other content.” Recent studio announcements “reflect a recommitment to new types of theatrical windows for future films,” he said. “Film release delays caused by the epidemic created an unbelievable lineup of big movies from now to 2023.” NCM expects revenue from its in-theater ad platform will begin to “meaningfully increase” in June, since movie attendance won’t “begin to pick up until Memorial Day weekend,” said Chief Financial Officer Ted Watson. “Monthly revenue will still be below 2019 pre-pandemic levels until Q4.”