Fathom Events is experiencing unprecedented success amid a content shortage at the box office and increasingly selective audiences. The joint venture between AMC, Regal, and Cinemark has long been known for bringing alternative content to theaters, including classic films, live telecasts, concerts, and TV series. Recently, it has expanded into specialty distribution with titles like “The Blind,” “The Chosen,” “Jesus Thirsts,” and “Waitress: the Musical,” with Andrea Bocelli’s “The Journey: A Music Special” upcoming.
In 2023, Fathom earned $100 million at the box office, a 116% increase from 2019, marking its highest-grossing year ever. The momentum continued into 2024, with $43 million in the first quarter, nearly 140% higher than the previous year.
Fathom’s partnerships with major Hollywood studios and its significant reach through the top three theater chains make it a formidable box office force. Its strategy revitalizes older films and supports theaters by providing content during production slowdowns. Paul Dergarabedian, a senior media analyst at Comscore, noted the growing trend of anniversary re-releases, which brings joy to movie fans and additional revenue to theaters.
“The Chosen,” a faith-based series about Jesus, generated $32 million in the first quarter, contributing significantly to Fathom’s revenue. Additionally, Fathom’s anniversary titles and classic cinema showings have attracted a dedicated audience. This year, they celebrated the anniversaries of “The Wizard of Oz,” “Gone with the Wind,” and “Steel Magnolias,” with more milestones for “Blazing Saddles,” “Rear Window,” “Neverending Story,” and “Mean Girls” still to come.
Fathom’s Studio Ghibli Fest, featuring original and dubbed versions of the studio’s 14 films, includes anniversaries for “Howl’s Moving Castle,” “Kiki’s Delivery Service,” and “Pom Poko.” These events generate significant box office returns, even for decades-old films. The “Lord of the Rings” trilogy re-release earned $8.2 million over three weekends, and “Coraline” has also seen impressive returns, with the 2022 re-release bringing in $7.1 million.
The high demand for Fathom’s screenings, like the upcoming 3D showing of “Coraline,” demonstrates a sustained interest in these events. Fathom’s extensive network and marketing capabilities provide invaluable support to smaller theater chains, allowing them to offer national campaigns they couldn’t manage alone.
By leveraging its relationships and marketing prowess, Fathom continues to breathe new life into theaters and classic films, making it a crucial player in the entertainment industry.
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