Despite the challenges in the entertainment business, the industry is growing – Arizonans still go to the movies

Starting with a global shutdown followed by multiple entertainment production strikes, many people thought that movie theaters would not survive, but most were able to stay in business and keep moviegoers employed.

In fact, the U.S. film market is forecast to “grow at a CAGR of 7.62% from 2024 to 2030,” which is worth $26.9 billion.

Last year (2023), the Valley’s Harkins Theaters grossed $550 million and “ticket sales for major premium formats such as IMAX accounted for over 14% of all box office ticket sales.”

In recent years, streaming services such as HBO Max have begun offering highly anticipated new films that can be viewed in the comfort of home rather than in theaters on or near their premiere date. And films in cinemas are shown for shorter periods of time and can be streamed or purchased earlier.

Nino Daniel, a verified film critic who promotes social media content around films and works with Harkins as a social media content curator, said that streaming services have also started producing “good quality films”, which represents more competition for cinemas, but as long as there are partnerships with studios and exclusivity clauses, there will still be theaters.

Against this background, “fewer people are going to the cinema – but they are paying more”.

Although ticket and concession prices have increased, cinema chains like Harkins are developing creative solutions such as hosting premieres and events for blockbusters like Wonka and Barbie – with prices including entry to the film, collectibles and themed food and drink, and interactive experiences with photo ops, According to Daniel, all positive things and ways to make the experience unforgettable and worth the money.

“Theaters also make it a priority to offer a wide range of concessions, including both hot food and alcohol, while remaining at the cutting edge of technology to ensure the optimal viewing experience.”

“When you go to the movies on the weekend, it’s still full of groups of people laughing, screaming and bonding together to make memories,” Daniel said. “There is nothing better than going to the cinema.”

Daniel told Northeast Valley News, “Being in the theater adds to the magic of the film, you can fully immerse yourself in the film and make personal connections.”

“It’s fun and will never stop going to the cinema. It will take at least another 100 years, so not that fast.”