Below, read excerpts from the State of the Industry presentation delivered by NATO’s Michael O’Leary on the second day of CinemaCon in Las Vegas.
As we gather this week, much of what we have long believed is open to reconsideration.
Even before I joined NATO, I felt that across the filmed entertainment sector there was a great
reimagination underway.
We saw it last year in the creative community and labor negotiations that involved unique and important issues that only a few decades ago would have been unimaginable.
We see it with our partners in distribution as they continue to explore how best to produce crowd pleasing movies, and effectively market them to an increasingly demanding movie going public.
And of course, as everyone in this room knows, we see it in exhibition.
But inflection points like these are moments of opportunity. And this last year has shown me
that the future of this industry—indeed, the state of this industry—is limitless.
Keeping pace with the increasing demands of the movie-going public is not new, but it does
require capital. And to our friends in the financial industry, investing in the talented people that
run the innovative theatres across this country and the world is a smart investment. Getting
more capital into the system will benefit everyone—creatives, studios, exhibition, local
communities and, most importantly, movie fans.
Movies on the big screen benefit everyone. More compelling movies bring more movie fans to
the theatre, which in turn increases the desire of consumers to return and see what is coming
next. Everyone wins.
During my tenure here at NATO, our partners in distribution have consistently reaffirmed their
commitment to theatrical.
We should always support partners and marketplace decisions that increase movie production
and put more movies with a clear, exclusive theatrical run and marketing support into your
cinemas.
We know that a movie that begins its journey with theatrical exclusivity is more successful in
every subsequent ancillary platform.
This should appeal to people who want as many film fans as possible to see their movies, but
also to people that want to make money.
To have a truly successful filmed entertainment industry, a variety of movies that appeal to
movie goers is critical.
It is not enough to rely solely on blockbusters—we must have a strong and vibrant market for
movies with smaller or medium sized budgets.
As I said at the start, our future is limitless, and a big part of that is because the theatre is a
place for everyone.
Every day, people from different walks of life, different perspectives, different cultures go to the
local cinema to sit in a darkened auditorium, surrounded by others, and for a few hours
experience the unique joy that is a motion picture on the big screen.
It is individual and communal all at once, and the shared experience amplifies and intensifies
every emotion you feel.
In a world that is increasingly divided, that increasingly places tribalism over community, the
theatre brings us together to share a common experience.
The movie theatre encourages us to listen, to think, and to learn.
There is no place else like it. The theatre is a place to cherish, to celebrate, and to fight for! The
theatre is a place for everyone.
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