UK cinema operators received a boost from spending in 2023 thanks to a year of silver screen blockbusters, according to the latest analysis from Lloyds Bank spending data.
Summer sensations Barbie and Oppenheimer ignited a phenomenon known as ‘Barbenheimer’, where many watched the films back-to-back on the same-day release. It sparked a 146 per cent surge in spending on their premiere day in July, eclipsing the historic daily average.
Over the following week, both films helped set a record for cinema spend in 2023.
The Super Mario Bros Movie drove a 60 per cent surge in spending on its release day compared to historical averages and Taylor Swift’s The Eras Tour concert movie sent spending soaring by 48 per cent.
Other Oscar-nominee films where spend increased on opening day included Spider-Man: Across the Spider-Verse and Killers of the Flower Moon.
However, Anatomy of a Fall failed to attract movie-goers, causing cinema spending to flop 29 per cent upon its release.
Credit: Lloyds Bank
Gabby Collins, payments director at Lloyds Bank said: “When it comes to the spending awards, Barbie and Oppenheimer steal the show, with our data showing cinema spend sky-rocketed the day ‘Barbenheimer’ hit cinemas.
“But it’s not just critically-acclaimed films that saw people swap the small screen for the big screen – family-friendly titles like Super Mario and Spider-Man also led to big spending uplifts as people enjoyed some escapism.”
According to PwC, the cinema market is forecast to grow over the next four years, with revenues expected to surpass pre-pandemic levels by 2025, at £1.3bn.
Cinemas may have a trickier time this year though, as Hollywood strikes are expected to have damaged the line up of movie releases in 2024.
Strikes from actors and scriptwriters brought the centre of the global film industry to a grinding halt throughout much of 2023.
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