Over-50s hold massive influence on box office

THRILLER or drama, horror or romance, gritty social reality or sci-fi fantasy: a huge priority for the suits in Hollywood studios has always been chasing the lucrative millennial dollar.

But a first-of-its-kind study released on Wednesday has given the lie to the assumption that while younger audiences flock to theatres, their parents and grandparents are sipping cocoa in front of Dynasty reruns.

In fact, more than 30 percent of cinema visits are made by moviegoers aged 50 or above, according to the research released during the annual CinemaCon convention for theatre operators in Las Vegas.

The survey, carried out by data analytics firm Movio on behalf of lobby group the American Association of Retired Persons, offers a detailed look at the 50plus moviegoer, highlighting trends in their viewing.

Heather Nawrocki, AARP’s director for “movies for grownups” said the study demonstrates that the 50-plus demographic was showing it could “significantly contribute to the success of movies at the domestic box office”.

“The 50-plus audience segment has disposable income, more leisure time and high loy- alty to specific actors making this segment extremely valuable,” she said.

Half a million US moviegoers who had seen at least one film in the 12 months from August 2015 were surveyed.

The study shows that 50-plus moviegoers have established an emerging genre – “mature thrillers” featuring veteran male actors. Over half of audiences who saw Jack Reacher: Never Go Back, Taken 3, The November Man and A Walk Amongst The Tombstones were over 50.

The research suggests this phenomenon is because fans are ageing alongside their favourite action stars such as Liam Neeson, Kevin Costner and Tom Cruise, according to AARP. But the 50-plus demographic is also a significant contributor to the success of blockbusters such as Star Wars: The Force Awakens, with 50-plus viewers making up 27 percent of the total audience.

Older audiences can also turn movies that might otherwise struggle into huge hits.

“The ultimate opportunity is to drive incremental revenue for filmmakers and exhibitors whilst also enhancing the satisfaction of this vital segment,” said Matthew Liebmann, senior vice president of Movio.