Cinema takings continue to climb, with healthy admissions and a wave of town centre boutique offerings planned.
Landlords and developers of retail destinations are focusing on growing the proportion of leisure in their schemes to increase footfall and dwell time. The strong performance of cinemas means they remain a go-to anchor and, as Cushman & Wakefield data reveals, the sector is changing.
The British Film Institute reports UK box office sales in 2016 were £1.2bn, matching 2015’s figures and up around 17% on 2014. Admissions reached 168 million last year, slightly higher than the 10-year average of 167 million.
Cushman & Wakefield’s research shows that around 144 new cinemas are proposed over the next five years, totalling approximately 960 screens and 3.6m sq ft of new cinema space. “This would represent a growth of more than 30% in the total number of UK mainstream cinemas today – one of the most significant growth rates ever seen,” says Thomas Rose, head of leisure and restaurants at Cushman & Wakefield…