While August has been a predictably slow month for movie theatres, not since 2001 have U.S. weekend box office revenues been this low; with revenues totaling just $65 million. Lionsgate’s (LGF.A) “Hitman’s Bodyguard” finished #1, earning a mere $10.1 million. While hurricane Harvey may have contributed to the low figures coming out of Texas, it was Saturday night’s Mayweather/McGregor fight that likely had the bigger impact. The fight generated more than $600 million in revenue, one of the highest grossing PPV events in history. Fathom Events (AMC, CNK, RGC) which showed the fight in theatres across the country, had a big night. The one-night closed-circuit event would have placed in the Top 10 for weekend movies, earning $2.6 million.
U.S. Box Office Had its Worst Weekend in More Than 15 Years
Howie Long-Short: $65 million equates to roughly 7 million tickets sold. You must reach all the way back to WWII to match the low attendance figures. Theatres had more viewers in the weekends following the Kennedy assassination and 9/11.
Fan Marino: Had the fight even through 6 rounds. Far from the sham many were predicting.
Smart enough not to spend $100 on Mayweather/McGregor, but still want to watch the fight live? Fathom Events, owned by AMC Entertainment (AMC), Cinemark Holdings (CNK) and Regal Entertainment Group (RGC), will be showing the fight (and undercard) at movie theatres across the country on Saturday August 26th. The theatre broadcast will be identical to the Showtime PPV telecast (CBS). Ticket prices will vary, as they are determined by the theatre, but are expected to be roughly $40.
Floyd Mayweather-Conor McGregor tilt headed to movie theaters
Howie Long-Short opines: The theatre exhibitors have been talking up the potential of non-film content from time to time for ages, with minimal impact on the bottom line. Including boxing, though this one intrigues me. But without beer? I don’t know.
Fan Marino says: I’m a few years too young to remember, but in the 70s & 80s before PPV, boxing was regularly broadcast in movie theatres and arenas. I always thought that atmosphere would be more fun than watching with 3 dudes on a couch. I’m in for the $40!