Hollywood’s big studios and their movie festivals face an uncertain future
Movie festivals and big box office revenues have declined over the past five years.
They are the main source of revenue for movie studios.
But many of the biggest movie theatres, including the five major movie theaters in Australia, have struggled to stay afloat.
In 2018, the top five film theatres in Australia were the four major movie cinemas: Warner Bros, AMC, Cineplex and AMC Australia, according to data compiled by the Australian Film and TV Industry Association.
The four major box office theatres are in Melbourne, Sydney, Brisbane and Perth.
In the past decade, movie theatings in Sydney and Melbourne have been losing money, while the three major box offices in Brisbane have seen declining revenues, according the ACIFA.
But despite these trends, the biggest cinema chains are still going strong.
The five biggest movie theatre chains are the four largest movie theatERS in Australia.
The three major movie theatre operators in the country are Cinemark Cinemas, Cinemark Melbourne, Cinemax and Cinema 3.
These cinemas are the largest movie theatre chain in Australia and are the two biggest movie exhibitors in the state of Victoria.
In 2019, Cinemarks Melbourne reported operating profit of $14.6 million, up 6 per cent year-on-year, while Cinemark Brisbane reported operating income of $12.5 million, down 12 per cent.
The four major film theaters reported operating losses of $3.7 million in 2018.
They have seen their annual operating profit decrease by 9 per cent in the past year.
Movies and TV festivals are the major source of income for the five biggest film theatries in Australia (Picture: Getty)The top five movie theatre chains in Australia have made a loss in five years: Warner Brothers ($2.7 billion), Paramount Pictures ($1.8 billion), Cinemark ($1 billion), AMC ($1 million) and Cinelex Cinemas ($1,000,000).
But there is hope for the big box offices.
The five big box operators have reported operating profits of $18.9 million in 2019.
That was down 3.6 per cent from the previous year.
The biggest movie cinema chains in the world have reported a profit of over $40 billion.