Hoyts to challenge Event Cinemas with new IMAX rollout in NZ
Cinema chain Hoyts is expanding its IMAX presence in New Zealand to compete with Event Cinemas, citing a strong box office recovery post-Covid. The company notes that while blockbusters remain important, independent films popularized by YouTube creators are increasingly driving ticket sales among Gen Z audiences.
Why it matters
It illustrates a shift in cinema consumption habits where online content creators are becoming significant drivers of traditional theatrical revenue.
<p>Big cinema chain operators like Hoyts have tended to rely on sure-fire, big-name blockbusters and superhero movies to drive ticket sales at cinemas across New Zealand and Australia.</p> <p><b>By Corin Dann of </b><a href="https://www.rnz.co.nz/news/business/868726/hoyts-cinema-s-imax-plans-for-new-zealand" target="_blank"><b>RNZ</b></a></p> <p>This year – to some extent – has been no exception, with Christopher Nolan's The Odyssey set to overtake Toy Story 5 as the biggest movie of the year in New Zealand, according to Hoyts Group chief executive Damien Keogh.</p> <p>Box office sales this year would be the best since Covid, Keogh believes.</p> <p>But something unusual has also happened at the box office this year – blockbusters are not the only story driving up sales.</p> <p>Two horror films, Backrooms and Obsession, made by younger independent filmmakers who cut their teeth on YouTube have also had a big impact.</p> <p>It was something Keogh admitted caught the industry by surprise.</p> <p>"There were a couple of, I guess,…
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