CinemaCon: New NATO Boss Michael O’Leary Calls For “More Capital” In Exhibition Sector; Says “Future Of This Industry…Is Limitless”
In his CinemaCon debut, NATO Chairman Michael O’Leary called the future of the motion picture industry “limitless” in what was a positive keynote speech this morning.
While praising the studios for their commitment to theatrical, O’Leary called for something that exhibition needs right now after weathering Covid and two strikes with a lack of big studio product: Money.
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“Keeping pace with the increasing demands of the movie-going public is not new, but it does require capital. And to our friends in the financial industry, investing in the talented people that run the innovative theatres across this country and the world is a smart investment. Getting more capital into the system will benefit everyone—creatives, studios, exhibition, local communities and, most importantly, movie fans,” said O’Leary.
There was a buzz heading into CinemaCon that AMC might finally give into bankruptcy (currently not true) with Alamo Drafthouse on the sales block (we actually understand they just need cash to keep their dine-in chain vibrant).
“Movies on the big screen benefit everyone. More compelling movies bring more movie fans to the theatre, which in turn increases the desire of consumers to return and see what is coming next. Everyone wins,” continued O’Leary who also emphasized the financial power of the theatrical downstream model; one which studios continue to embrace despite streaming’s encroachment on moviegoing post pandemic.
O’Leary also called on content partners in the room at Caesars Palace Colosseum to supply not just blockbusters, but smaller and medium sized movies as well.
“To have a truly successful filmed entertainment industry, a variety of movies that appeal to movie goers is critical,” he added.
O’Leary took over for outgoing NATO Boss John Fithian last May. Before NATO, O’Leary served in several senior positions at The Entertainment Software Association, 21st Century Fox, the Motion Picture Association, on Capitol Hill and at the Department of Justice.
Meanwhile Fithian has been making headlines during CinemaCon with his latest venture, the Fithian Group, with news about a new theatrical distribution system that’s software-based, data and AI-driven, a means to enable direct distribution between filmmakers and theater owners.
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