Regal and Audible Launch Audiobook to Screen Program Featuring "The Boys in The Boat"

Rhea-AI Summary

Regal Entertainment Group (RGC) and Audible, an Amazon company, have announced a collaboration to bring movies and audiobooks together for the first time. The partnership aims to engage and convert audiobook enthusiasts to see literary-based films in theaters and encourage early listening to the audiobook before the film's release. The first title they are working on together is Amazon MGM Studios' The Boys in the Boat, with the program starting on December 8, offering a free first chapter listen to the audiobook and a special Audible promotion. Regal Crown Club members were also offered a two-month extended free trial of Audible Premium Plus.

Insights

Marketing Strategist

The strategic partnership between Regal and Audible represents a novel marketing approach aimed at leveraging cross-media content to boost customer engagement and revenue streams. This collaboration taps into the synergy between literary content and its cinematic adaptations, potentially increasing the visibility and marketability of both the audiobook and the film.

From a marketing perspective, the initiative could drive Audible memberships and Regal ticket sales by offering a seamless experience for consumers. The promotion of a free audiobook chapter could entice audiences to purchase the full audiobook, while the extended trial for Regal Crown Club members may lead to longer-term subscription revenue for Audible.

This strategy exemplifies a multi-channel marketing campaign, which can be highly effective when targeting demographics that enjoy both reading and movie-going. It's a move that could set a precedent for future collaborations between streaming services and movie theaters, potentially reshaping promotional strategies in the entertainment industry.

Financial Analyst

The collaboration between Regal and Audible is a strategic move that could have a positive financial impact on both companies. By bundling promotions for audiobooks and movie tickets, the companies are creating additional value for their products and services. This could lead to a rise in consumer spending in both sectors.

For investors, the key metrics to watch would be the conversion rates of audiobook listeners to moviegoers and vice versa, as well as the subsequent retention rates for Audible's subscription service. An increase in these metrics could signal a successful partnership and might be reflected in the quarterly financial reports of both Amazon (Audible's parent company) and Regal.

It is also important to monitor the customer acquisition costs associated with these promotions. If the partnership leads to a significant number of new customers for both entities without proportionate costs, it could be a model for future collaborations, potentially impacting stock valuations positively.

Industry Analyst

This unique collaboration between Regal and Audible could signify a shift in industry dynamics, especially in how entertainment companies approach cross-promotion and audience engagement. By integrating the experience of reading and watching, they are capitalizing on the trend of content convergence.

For other players in the industry, this could serve as a case study on the effectiveness of leveraging intellectual property across different platforms. If successful, it might encourage similar partnerships, which could reshape competitive strategies within the entertainment sector. Observing the consumer response to this initiative will be crucial in evaluating its replicability and impact on the broader market.

Furthermore, this collaboration could influence how content is distributed and marketed, with potential implications for licensing agreements, revenue sharing models and promotional tactics. The long-term effects could include changes in how movies and books are bundled and sold, potentially creating new revenue models for publishers, streaming services and movie theaters.

KNOXVILLE, Tenn., Dec. 22, 2023 /PRNewswire/ -- Regal and Audible, an Amazon company, collaborate for the first-time bringing movies and audiobooks together for their respective audiences. Amazon MGM Studios' The Boys in the Boat, in theaters this Christmas, is the first title they are working on together, offering the first chapter of the audiobook and a special Audible promotion to complete the listen.

Regal and Audible's mutual efforts are to engage and convert audiobook enthusiasts to see literary-based films in theaters and encourage early listening to the audiobook before the film's release, driving Audible memberships and ticket sales. This collaboration opens the door to multiple engagement opportunities with Amazon MGM and other studios.

The program started on Friday, December 8, tied to the film's ticket presale launch, offering a free first chapter listen to the audiobook of The Boys in The Boat, published by Penguin Random House. Along with the links to purchase tickets, there was a special The Boys in The Boat "Page to Screen" featurette included.

Following the launch, Regal and Audible offered Regal Crown Club members a two-month extended free trial of Audible Premium Plus, which includes two credits and access to the Audible Plus Catalog.

"Audible is excited to support audiobook-to-screen titles with Regal and Amazon MGM Studios and extend incredible storytelling experiences to new listeners," said Derek Murphy, Head of Audible Business Development.

"Regal is excited to work with Audible to launch the first of its kind collaboration," said Kelly Hawkins, Head of Loyalty. "Regal Crown Club members can create an amazing experience by listening to the audiobook for the upcoming movies, joining in conversations and meet-ups at Regal with other club members to then see the book on the big screen."

"Echoing Regal's sentiment that it's the perfect collaboration between powerhouses like Audible, Regal and Amazon MGM Studios to bring impactful and magical stories, to new and engaged audiences, like George Clooney's The Boys in The Boat," said Kevin Wilson, Amazon MGM Head of Distribution. "We are thrilled to embark on this first-time endeavor and look forward to featuring our rich and diverse book-to-screen titles."

ABOUT THE BOYS IN THE BOAT FILM:
The Boys in the Boat is a sports drama based on the #1 New York Times bestselling non-fiction book written by Daniel James Brown. The film, directed by George Clooney, is about the 1936 University of Washington rowing team that competed for gold at the Summer Olympics in Berlin. This inspirational true story follows a group of underdogs at the height of the Great Depression as they are thrust into the spotlight and take on elite rivals from around the world.

ABOUT REGAL:
Regal, a subsidiary of the Cineworld Group, operates one of the largest and most geographically diverse theatre circuits in the United States, consisting of 5,808 screens in 428 theatres in 41 states along with the District of Columbia and Guam as of November 30, 2023. We believe that the size, reach and quality of the company's theatre circuit provides its patrons with a convenient and enjoyable moviegoing experience. We are committed to being "The Best Place to Watch a Movie!" Additional information is available on Regal's website: REGmovies.com.

ABOUT AUDIBLE, INC.:
Audible, Inc., an Amazon.com, Inc. subsidiary (NASDAQ: AMZN), is the leading creator and provider of premium audio storytelling, offering global audiences a powerful way to enhance and enrich their lives through extraordinary content. Audible's catalog includes more than 850,000 audio titles, including Audible Originals as well as audiobooks and podcasts from leading studios, print, audio and magazine publishers and world-renowned entertainers.

CONNECT WITH THE BOYS IN THE BOAT FILM
WEBSITE | INSTAGRAM | TRAILER | BUY TICKETS

Media Contact:
Richard M. Grover
Head of Marketing, Regal
(865) 925-9539

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SOURCE Regal

FAQ

What is the collaboration between Regal Entertainment Group and Audible about?

The collaboration aims to bring movies and audiobooks together for the first time, engaging and converting audiobook enthusiasts to see literary-based films in theaters and encouraging early listening to the audiobook before the film's release.

What is the first title they are working on together?

The first title they are working on together is Amazon MGM Studios' The Boys in the Boat.

When did the program start and what did it offer?

The program started on December 8, offering a free first chapter listen to the audiobook of The Boys in The Boat and a special Audible promotion. Regal Crown Club members were also offered a two-month extended free trial of Audible Premium Plus.

Who are the key individuals involved in this collaboration?

Derek Murphy, Head of Audible Business Development, and Kelly Hawkins, Head of Loyalty at Regal, are key individuals involved in this collaboration.

What did Kevin Wilson, Amazon MGM Head of Distribution, say about the collaboration?

Kevin Wilson expressed excitement about the collaboration, describing it as the perfect collaboration between powerhouses like Audible, Regal, and Amazon MGM Studios to bring impactful and magical stories to new and engaged audiences.