Cinema: Driving the Experience Economy

The cinema industry has long been a cultural touchstone, captivating audiences with its storytelling and immersive experiences. However, in recent years, cinema has also played a significant role in driving the experience economy. As consumers increasingly seek out unique and memorable experiences, the cinema industry has adapted to meet these demands.

According to Mastercard research, the passion for cinema in Europe remains incredibly strong, with nearly 47% of European and international visitors expressing that they are happiest when watching a film at the cinema. The study highlights the unique cultural and emotional significance of cinema, revealing that one in two Europeans view the opportunity to attend a film premiere as ‘priceless’, while 48% consider meeting their favourite actor or actress a one-of-a-kind experience. 

As cinema continues to bring joy to so many, it reminds us of the words of Ingmar Bergman: "No form of art goes beyond ordinary consciousness as film does, straight to our emotions, deep into the twilight room of the soul."

For 65% of European and international visitors, the cinema experience enhances the enjoyment of films compared to watching them elsewhere. This preference was evident with the recent European release of Deadpool & Wolverine, which sparked a significant 24% week-on-week rise in cinema spending during the opening weekend.

Countries such as Denmark, Norway, Germany, the Netherlands, and the UK saw the strongest increases in cinema expenditure, underscoring the continued appeal of blockbuster films and the communal experience of cinema. This surge highlights how big film releases can still drive audiences to theaters, despite the convenience of home streaming.

The resurgence of cinema and live events is having a notable positive effect on national and local economies. Much of this spending came from affluent visitors opting for more expensive menu items and higher-priced beverages, highlighting the festival's economic influence beyond the screen.

Moving forward, the cinema industry continues to evolve, adapting to changing consumer preferences and technological advancements. As a result, it remains a driving force in the experience economy, providing audiences with unique and memorable experiences that contribute to economic growth and cultural enrichment.