Fathom Events is on track for a record-breaking 2024 with gross revenue of $145+ million, up 45% from $100 million a year ago, and plans to rebrand to Fathom Entertainment starting in January to better reflect its mission.
The 20-year-old distributor’s strong numbers reflect in large part an expansion from core and primarily events-based and limited engagements in recent years to include more special engagements with longer release windows. The new name, it said, reflects that evolution and “the start of a bold, new chapter for the company in the rapidly changing media and entertainment landscape.”
“With the significant decline in volume of major motion picture theatrical releases post-COVID and the proliferation of streaming options at-home, present day audiences are constantly on the lookout for something fresh and different and uniquely relevant at the movie theatres,” said Fathom CEO Ray Nutt. “Consumer enthusiasm and embrace of specialty content in theatres has translated into Fathom’s highest-grossing year ever.”
The business, which is co-owned by AMC Theatres, Cinemark Theatres and Regal Cinemas, is “grateful to our partners, theatre affiliates, and fans who have supported the shift and expansion of Fathom’s specialty theatrical content endeavors,” he added. It will “look to prudently build on our success with new content opportunities in the future.”
Special engagements, defined as content with seven or more theatrical playdates, include the 15th-anniversary re-release of Coraline ($34M+ in box office revenue), the entire fourth season of The Chosen episodic series ($32M+ in box office revenue) and The Blind ($17M+ in box office revenue).
The company’s distribution strategy shifted after the pandemic with The Blind, the biopic of Phil Robertson of Duck Dynasty fame. Recognizing the family had a large, passionate fan base, Fathom initially secured a seven-day distribution plan. However, after those showtimes quickly sold out, Fathom worked with exhibitors to have the film play for an additional six weeks.
Its its ability to create “bespoke distribution plans” is one of its main strengths.
“Thanks in part to the strategic evolution and embrace of alternative formats and distribution windows, Fathom has achieved unprecedented box office growth over the last three years. While the company remains committed to finding diversified content that resonates with underserved communities and expanding its theatrical footprint,” Fathom said.
It anticipates a mix of special engagements and event cinema in 2025.
