Fathom Events, which puts movies, TV series, concerts and other events into movie theaters for limited runs, saw a record-breaking year for limited releases in 2024, with revenues increasing 45% to more than $145 million. CEO Ray Nutt also announced that the company will rebrand as Fathom Entertainment starting in January.
Fathom’s strong year comes as re-releases of classic titles are helping bring moviegoers into theaters even in a time of uneven release schedules for new movies. The company’s most recent home run was this year’s 15th anniversary re-release of “Coraline,” which totaled $34 million at the box office, becoming Fathom’s biggest grosser ever.
The distributor, which is jointly owned by AMC Theatres, Cinemark Theatres and Regal Cinemas, has been expanding to include more special engagements with longer release windows. The new name “reflects our significant growth and evolution and the start of a bold, new chapter for the company in the rapidly changing media and entertainment landscape,” the company said in a statement.
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“With the significant decline in volume of major motion picture theatrical releases post-COVID and the proliferation of streaming options at-home, present day audiences are constantly on the lookout for something fresh and different and uniquely relevant at the movie theaters. Consumer enthusiasm and embrace of specialty content in theaters has translated into Fathom’s highest-grossing year ever,” Nutt said.
In 2024, Fathom marked 20 years of releasing films, performing arts, concerts and event programming in alternative formats and distribution windows. Earlier hits included the entire fourth season of “The Chosen” series with $32 million, and the 2023 release of “The Blind,” the biopic of “Duck Dynasty’s” Phil Robertson, with $17 million.
With “The Blind,” the original seven-day run was extended for an additional six weeks, showing audiences’ appetite for alternative content that “resonates with underserved communities,” as Fathom puts it. Fathom operates in 45 countries and works with cinema partners worldwide.