Moviegoers drive $5 billion in spending to nearby business
Los Angeles, CA (August 18, 2021) – As movie theaters rebound from the pandemic, they will also drive the recovery of surrounding businesses, a new study shows.
Ernst & Young today released a detailed analysis focused on the broader economic impact of movie theaters. The study, Economic Contributions of the US Movie Theater, commissioned by the National Association of Theatre Owners (NATO), analyzed pre-pandemic data from 2019 to understand the economic value of movie theaters to their communities as they look to recover after facing shutdowns, capacity restrictions, and an intermittent lack of new releases.
Key takeaways include:
“This study makes it very clear that the recovery of movie theaters will help so many other businesses rebound as well,” said John Fithian, NATO’s President & CEO. “Movie theaters are the essence of the communal experience and they are essential to the economic health of their communities.”
The National Association of Theatre Owners is the largest exhibition trade organization in the world, representing more than 33,000 movie screens in all 50 states, and more than 33,000 additional screens in 96 countries worldwide.
Headquartered in Washington, D.C., with a second office in Los Angeles, California, NATO represents its members in the heart of the nation’s capital as well as the center of the entertainment industry. From these vantage points, NATO helps exhibition influence federal policy-making and work with movie distributors on all areas of mutual concern, from new technologies to legislation, marketing, and First Amendment issues. www.natoonline.org