Fathom Events Reports Record-Breaking 2024 Business Performance With Specialty Distribution Model; Set to Rebrand as Fathom Entertainment in January 2025

Rhea-AI Summary

Fathom Events announces record-breaking performance in 2024 with gross revenues exceeding $145 million, marking a 45% increase from 2023's $100 million. The company will rebrand as Fathom Entertainment in January 2025. Notable successes include special engagements like Coraline's 15th-anniversary release ($34M+), The Chosen Season 4 ($32M+), and The Blind ($17M+).

Co-owned by AMC Theatres, Cinemark, and Regal Cinemas, Fathom operates in 45 countries with over 1,100 locations. The company's growth strategy focuses on longer release windows and special engagements, capitalizing on post-COVID theatrical market changes and audience demand for specialty content.

Positive

• Record gross revenues of $145M+ in 2024, up 45% YoY
• Successful special engagements generating significant box office revenue (Coraline $34M+, The Chosen $32M+, The Blind $17M+)
• Expanded distribution network across 45 countries with 1,100+ locations
• Strategic evolution to longer release windows showing success

Negative

• None.

Insights

Financial Analyst

The record-breaking revenue performance of $145 million represents a substantial 45% year-over-year growth for Fathom Events, a subsidiary partially owned by AMC Theatres. This success in specialty content distribution provides a vital revenue stream for AMC during a period of reduced major studio releases. Notable successes like Coraline's re-release ($34M+), The Chosen ($32M+) and The Blind ($17M+) demonstrate strong market demand for alternative content. The strategic pivot to longer theatrical windows for specialty content has proven effective in driving growth. This diversification strategy helps mitigate AMC's exposure to traditional box office volatility and creates additional revenue opportunities in the evolving theatrical landscape.

Market Research Analyst

The success of Fathom's specialty distribution model reveals a significant market shift in theatrical entertainment consumption. Operating across 45 countries with over 1,100 locations, Fathom's ability to tap into underserved audiences and passionate fan bases demonstrates a viable alternative to traditional theatrical releases. The expansion into longer-run special engagements addresses the post-COVID theatrical content gap while meeting consumer demand for unique theatrical experiences. This strategic evolution, combined with the planned rebranding to Fathom Entertainment, positions the company to capitalize on changing audience preferences and the growing appetite for alternative content in traditional theater settings.

Special engagements business segment growth helps push Fathom to record revenues, highlights opportunity for corporate brand & name change

DENVER--(BUSINESS WIRE)-- Ray Nutt, CEO of Fathom Events, the leading specialty distributor of content to theatrical partners worldwide, announced that the company is on track for record-breaking gross revenues of more than $145 million, representing a 45% increase in sales from last year’s gross revenues of $100 million. Nutt also revealed that the company will be rebranded as Fathom Entertainment starting in January of 2025.

Fathom’s performance in 2024 has been strong across all business segments, with the company having expanded its core and primarily events-based and limited engagement distribution business in recent years to include more special engagements with longer release windows. “Fathom Entertainment” reflects our significant growth and 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. Consumer enthusiasm and embrace of specialty content in theatres has translated into Fathom’s highest-grossing year ever,” says Nutt.

Nutt continued, “Everyone at Fathom is proud of the company’s banner year and grateful to our partners, theatre affiliates, and fans who have supported the shift and expansion of Fathom’s specialty theatrical content endeavors. Fathom Entertainment better reflects our mission to bring exceptional entertainment to exhibitor partners and moviegoers worldwide. Fathom remains dedicated to pushing boundaries and providing audiences with unforgettable experiences and will look to prudently build on our success with new content opportunities in the future.”

20 Years of Fathom – 2025 is the Dawn of a New Era at Fathom Entertainment

The Fathom Entertainment rebranding and strategy shift marks a new chapter in the company's 20-year history, highlighting its dedication to offering innovative distribution paths.

With successful special engagements (content with seven or more theatrical playdates and anticipated box office revenue of at least $5M), such as the 15th-anniversary re-release of Coraline ($34M+ in box office revenue), the entire 4^th season of The Chosen episodic series ($32M+ in box office revenue) and The Blind ($17M+ in box office revenue), Fathom continues to demonstrate its unique ability to bring diverse, passion-driven content to audiences.

Fathom will continue to be the leader in live and recorded content and anticipates a healthy combination of special engagements and event cinema in 2025.

Fathom’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.

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’s most significant attribute for success comes from its ability to create bespoke distribution plans.

Co-owned by AMC Theatres, Cinemark Theatres, and Regal Cinemas, Fathom collaborates with all leading cinema partners worldwide, ensuring a wide array of distribution and exhibition opportunities that fit the needs of the local marketplaces.

Stay tuned for more groundbreaking and memorable theatrical experiences from Fathom Entertainment in 2025.

About Fathom Events

Fathom Events is the leading global specialty distributor of live and pre-recorded content to theatres. For more than 20 years, Fathom has pioneered theatrical distribution of events and special engagements, including performing arts, movies, episodic content, and other special event programming across various genres and formats. Fathom offers content creators a worldwide cinema distribution network by operating in 45 countries and boasts a live digital broadcast network of more than 1,100 locations. Fathom is owned by AMC Entertainment Inc. (NYSE: AMC), Cinemark Holdings, Inc. (NYSE: CNK), and Regal Cineworld Group (LSE: CINE.L). For more information, visit FathomEvents.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241216607182/en/

Media Contact:

Shannah Miller

Fathom Events

press@fathomevents.com

Source: Fathom Events

FAQ

What is Fathom Events' revenue growth in 2024?

Fathom Events reported record-breaking gross revenues of over $145 million in 2024, representing a 45% increase from $100 million in 2023.

When will Fathom Events change its name to Fathom Entertainment?

Fathom Events will rebrand as Fathom Entertainment in January 2025.

What are Fathom's most successful special engagements in 2024?

Fathom's most successful special engagements include Coraline's 15th-anniversary release ($34M+), The Chosen Season 4 ($32M+), and The Blind ($17M+).

Who owns Fathom Events?

Fathom Events is co-owned by AMC Theatres (NYSE: AMC), Cinemark Holdings (NYSE: CNK), and Regal Cineworld Group (LSE: CINE.L).

How many locations does Fathom Events operate in?

Fathom Events operates a live digital broadcast network of more than 1,100 locations across 45 countries.