Will Gen Z be the generation to revive moviegoing?
Gen Z is showing a renewed interest in moviegoing, driven by affordability and loyalty programs. This generation, shaped by the pandemic, is more cost-conscious and fiscally conservative than previous ones. Movie theaters are adapting by offering lower prices and engaging promotions to attract this demographic.
- ▪Gen Z is cost-conscious but willing to spend on entertainment like movies.
- ▪Loyalty programs at theaters have seen increased participation from Gen Z since the pandemic.
- ▪Theaters are keeping ticket prices low and running promotions to engage college students.
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Helping to fuel Gen Z's affinity for the movies is the fact that it remains one of the more inexpensive forms of entertainment."Ticket pricing has gone up, as it does, but when you compare it to the year-over-year inflation rate, it's on par, if not less," said Steve Buck of EntTelligence, a movie data firm. "When you think about Gen Z, they are cost-conscious, but they're opening up their wallet."Gen Zers came of age around the time of Covid, which Dorsey called a "generation-defining experience." This cohort doesn't know a time without social media or smartphones and is incredibly cost-conscious, having grown up in a time of great uncertainty, he said."Covid uprooted all of their plans," Dorsey said. "They were going to school, going to college ...
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