TheGrill 2015: Universal, Skydance, IMAX Executives Agree Data Is Key to Higher Movie Ticket Sales (Video)
”This is an industry that has typically been very blind of information,“ Will Palmer, CEO of movie marketing data company Movio, told a panel of industry insiders at TheWrap’s Media Leadership Conference
When it comes to innovating the moviegoing experience, a panel of industry insiders at TheGrill, TheWrap’s sixth annual Media Leadership Conference, agreed on Tuesday that consumer enjoyment is directly correlated to maximizing profits.
But in order ensure studios, content creators, distributors and exhibitors are delivering the goods required to entice ticket buyers to get off their couches and walk into the multiplex, they also agreed data must be shared and trusted.
“This is an industry that has typically been very blind of information. The relationship between the end consumer and the person who makes the content, there’s a quite a gap,” Will Palmer, CEO of movie marketing data company Movio, told moderator Thom Geier, deputy managing editor of TheWrap.
“If we can empower the entire industry to have the type of information that a company like Netflix has — the changes across marketing, content creation, optimizing screens of whats playing on what screen at what time, optimizing the data of your films — can all change this entire industry, and potentially give us a lift of 5 or 10 percent.”
Paul Yanover, the president of online movie ticket giant Fandango, says this future is near.
“I don’t think it’s all figured out yet, but we’re at the early stages, and we’re far enough along where it’s clear there’s a path to figure out how to get the right movie in front of the right person with the right convenience factor,” Yanover said, emphasizing his company’s contribution to innovating a major piece of the puzzle.
While studios are continually hoping that a good story will be the biggest draw and exhibitors are offering increasingly luxurious amenities or better food to enhance the experience — a word every panelist agreed is what distinguishes movies as an activity rather than simply watching videos at home — Fandango is focusing on the convenience factor.
“How do we make it easier for people? I think it’s a big deal that people have a box office on the screen of their phone,” Yanover said.
Skydance Media CCO Dana Goldberg said that while the “code” everyone in the industry is trying master isn’t complicated, it’s not easy, either.
Take Skydance’s “Terminator Genisys,” for example. The latest sequel in the science-fiction franchise that launched Arnold Schwarzenegger‘s career (and has continued to provide paychecks throughout it) had all of the promising elements for success, including a built-in audience, an iconic movie star returning the role that made him famous, cool special effects and a new twist on a story fans love.
“Do I wish we would have done better domestically? Absolutely. But happily we live in the world where the domestic number had a level of importance 10 or 15 years ago — I’m not saying it’s not important, it is — but we have to play to a worldwide market,” Goldberg said. “In terms of ‘Terminator,’ the worldwide market paid attention, but we’re not taking the domestic number lightly.”
“We were talking about data and research. We think it’s incredibly important,” Goldberg said.“We’re going to do a worldwide study and really talk to audiences about what they loved, and what maybe didn’t work for them, so that the next step we take with the franchise is the right one.”
Despite the insight from a data analyst on the panel, Goldberg was in agreement with both Roger Pollock, IMAX’s head of international marketing, and Josh Goldstine, president of Universal Picture’s worldwide marketing, that the quality of the films they’re offering is key.
“The product is the driver,” Pollock said, noting IMAX ticket sales are up internationally overall, and as much as 40 percent in China. “Last year, we didn’t have quite as good of a lineup as we do this year, and that’s reflected in deciding whether they’re not going to go to the cinemas, or they’re not.”
“The underlying question is, ‘Why is it up for us?'” Goldstine asked, and then answered himself by explaining the payoff of providing a diversity of products that appeal to different demographics, like Universal’s additional box office hits “Pitch Perfect 2,” “Trainwreck” and “Straight Outta Compton.”
“Ultimately, it’s the narrative and the way it works to touch people,” Goldstine said.
While distributors want to crack the code that allows them to target their demographics as accurately as possible, Palmer emphasized the power of broad appeal isn’t fading.
“The tentpole film is still most lucrative film in industry, there’s no question,” Palmer said, noting that 37 percent of moviegoers seek out big-budget movies like “The Avengers” and similar spectacles account for two-thirds of that subset’s annual movie ticket purchases.
“I really am suggesting there is a balance,” Palmer said. “That you keep making those, and you bring those out on a periodic fashion to keep those people coming back, but you also have an entirely different approach for the millennial females or the baby boomers — those probably aren’t IMAX films — but I still think there is an opportunity to optimize what we put on our screens, and to try to balance it.”
The Scene at TheGrill 2015: TheWrap's Media Leadership Conference (Photos)
TheWrap's editor in chief Sharon Waxman kicked off the sixth annual TheGrill Conference Day 1.
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"Empire" co-creator/writer Danny Strong (left) and producer Brian Grazer spoke onstage during the first day of TheWrap's 6th Annual TheGrill.
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Producer Brian Grazer spoke onstage during the first day of TheWrap's 6th Annual TheGrill.
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"Empire" co-creator/writer Danny Strong and producer Brian Grazer spoke onstage with Sharon Waxman during the first day of TheWrap's 6th Annual TheGrill.
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"Empire" co-creator/writer Danny Strong and producer Brian Grazer spoke onstage during the first day of TheWrap's 6th Annual TheGrill.
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"Empire" co-creator/writer Danny Strong and producer Brian Grazer spoke onstage with Sharon Waxman during the first day of TheWrap's 6th Annual TheGrill.
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Maker Studios CEO Ynon Kreiz spoke onstage during Day 1 of TheGrill 2015.
Andrew Glasgow, SVP at Viacom Scratch, spoke about the declining attention span of Americans during the first day of TheWrap's 6th Annual TheGrill conference.
From left to right: TheWrap's executive editor Joseph Kapsch, "So You Think You Can Dance" executive producer Nigel Lythgoe, Electus founder and chairman Ben Silverman, PactUS president David Lyle, and "Big Brother" executive producer Allison Grodner.
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PactUS president David Lyle discussed the state of reality TV during Day 2 of TheGrill.
"Big Brother" executive producer Allison Grodner discussed the state of reality TV during Day 2 of TheGrill.
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Nigel Lythgoe discussed the state of reality TV on Day 2 of TheGrill.
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Electus founder and chairman Ben Silverman talked the state of reality TV during Day 2 of TheGrill.
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CNBC reporter Julia Boorstin attended TheWrap's sixth annual TheGrill conference at The Montage Beverly Hills.
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Conde Nast Entertainment president Dawn Ostroff discussed content creation on Day 2 of TheGrill.
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Box founder and CEO Aaron Levie discussed content protection with TheWrap's editor in chief Sharon Waxman on Day 2 of TheGrill.
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Golden Globe nominee Maria Bello discusses her life and career during Day 2 of TheGrill
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Golden Globe nominee Maria Bello discusses her life and career during Day 2 of TheGrill
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From left to right: Movio co-founder and chief executive Will Palmer, Fandango president Paul Yanover, Skydance Media CCO Dana Goldberg, IMAX's head of international marketing Roger Pollock, Universal president of worldwide marketing Josh Goldstine, and TheWrap's Deputy Managing Editor Thom Geier discussed the moviegoing experience on Day 2 of TheGrill.
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IMAX's head of international marketing Roger Pollock discussed the moviegoing experience on Day 2 of TheGrill.
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Fandango president Paul Yanover discussed the moviegoing experience on Day 2 of TheGrill.
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Skydance Media CCO Dana Goldberg discussed the moviegoing experience on Day 2 of TheGrill.
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Movio co-founder and chief executive Will Palmer discussed the moviegoing experience on Day 2 of TheGrill.
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Universal president of worldwide marketing Josh Goldstine discussed the moviegoing experience on Day 2 of TheGrill.
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Steven Amato, CEO & chief content officer of Contend and Sharon Waxman, founder & CEO of TheWrap spoke onstage during the "Drones and Hollywood" panel at TheWrap's 6th Annual TheGrill.
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Co-founder and chief executive of Movio Will Palmer held a discussion regarding "What Women Want: Unlocking Box Office Revenue" at TheWrap's 6th Annual TheGrill.
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Joseph Atkinson, U.S. Advisory Leader for the Entertainment, Media & Communications Practice at PwC, spoke onstage at TheWrap's 6th Annual TheGrill.
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Twitter and Uber investor Chris Sacca talks investing in the tech space during Day 2 of TheGrill
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Evolution Media Group founder and co-managing partner Rick Hess talks about financing media during Day 2 of TheGrill
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Former MTV president Van Toffler talks about his new company during Day 2 of TheGrill
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Lloyd Braun, Founder & CEO of Whalerock Industries during Day 2 of TheGrill
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Mark Terbeek, Partner at Greycroft, Jesse Jacobs, President of The Chernin Group and Brian Weinstein, Head of Corporate Finance Group of CAA during Day 2 of TheGrill
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Steven Haft, SVP Innovation of Time Inc., Sanjay Sharma, President & COO of All Def Digital, Christian Meinberger, SVP Content Programming & Production at Studio 71, and Tobias Bauckhage, CEO and co-founder of Moviepilot during Day 2 of TheGrill
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Steven Haft, SVP Innovation of Time Inc. and Adam Smith, Partner at United Entertainment Group during Day 2 of TheGrill
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Entertainment, media and technology converge at TheWrap’s sixth annual Grill Conference at the Montage Beverly Hills