Since fewer people are going to the movies, a new study reveals why fewer people are going to the movies and what would cause them to go back.
A large majority of moviegoers would be willing to pay between $10 to $20 just to watch a newly released movie in their home instead of a theater, according to a new study that was released on Tuesday.
A whopping 82 percent of people surveyed in a PwC survey called “Summer 2014 Movie Going Declines a Blip on the Radar” said that they will be willing to pay more money to see a new release at home instead of the movies. However, 53 percent of people said they are not going to the movies because movie theater prices have become too expensive.
The study was part of PwC’s Consumer Intelligence Series, and looks into the reasons why the box office numbers have decreased in 2014, which decreased by 16% since 2013. The study also explored if the trend will continue into 2015. The study concludes that this summer’s box office will be fine, if the movies are as enticing as movie studio’s hype them up to be.
Here are the six reasons as to why people are no longer going to the movies.
#1. Rising Cost of Tickets
According to the survey, the biggest issue moviegoers had was the rising cost in movie ticket prices. When they were asked why they have decided not to go to the movies as often 53 percent of the people said it was the price. 41 percent claimed it was lack of interest in the movies, and 30 percent found that they would rather watch a movie on their own schedule instead. It is interesting to note that the average ticket price in 2014 was $8.12.
#2. Not enough action movies
A movie’s genre was a major factor when moviegoers were deciding whether or not they were going to see the movie. According to the study, action/adventure films were the most popular, followed by comedies. While dramas and thrillers were more popular among 50 to 59 year olds, while horror films were well liked by 18 to 24 year olds.
#3. Nobody likes 3D movies
People were not interested in seeing a movie just because it was filmed in 3D. The type of movie had a biggest reason for going to a theater, followed by the desire for a night out.
#4. What your friends think matters
A friend’s recommendation provided the biggest incentive to go to a movie for 35% of the people surveyed. One bad review by a friend can seriously influence whether or not you go to the theaters.
#5. Special offers
A large percentage of people surveyed in the study said last-minute cheap seat offers would entice them to go to the theaters. Or other large incentives such as a the ability to buy digital copies of the film, “super fan” viewing offers, reserved seating, and the ability to buy the sound track or other promo items would influence their decision to go to the movies.
#6. All you can watch movies
A large majority of people were interested in a subscription plan that would let them watch an unlimited amount of movies for $20 a month. The youngest demographic was more interested in the subscription package rather than 35 to 59 year olds. But, 87 percent of people would go to the movies more often if they only had to pay $20/month.
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