“Strong blockbusters are increasingly the lifeblood of the theater business,” said Paul Hardart, a New York University Stern School of Business professor who directs the school’s Entertainment, Media and Technology Program.
The latest Spider-Man movie and Christopher Nolan’s The Odyssey have given theaters some of their biggest draws in years.
The pandemic changed moviegoing habits, while streaming gave consumers a nearly endless supply of entertainment at home, Hardart said.
“The threshold to get us to leave home and spend $20–25 to see a movie has gone up,” he said.
The Odyssey and premium formats like IMAX have helped raise the stakes in the other direction, giving moviegoers a reason to feel the theater experience is worth the money and effort.