MAKING FILMS MORE ACCESSIBLE
Steven Tan, president of SM Supermalls, said in December that SM Cinemas' response to the returning demand is to make films more accessible to Filipinos.
At the opening ceremony of the French Film Festival, which was done in partnership with the French Embassy, he said, “Film is such a compelling medium to enrich our perspective. This is why we expanded the film festival to two of our iconic SM Supermalls, making French cinema more accessible than ever before.” The festival was held at the cinemas of the SM Mall of Asia and SM Megamall.
Regular tickets for those films cost P150 while tickets for students, seniors, and persons with disabilities (PWDs) cost P100.
Most notably, Filipinos' clamor for accessible films was seen on Oct. 15, during SM Cinemas' 65th anniversary, when eight titles were available for only P65 across SM Cinemas nationwide.
Photos of long queues at the mall went viral as audiences chose from the eclectic mix of American, Asian, and Filipino selections under the one-day promo. The films were Instant Daddy, The Creator, The Expendables, Forbidden Play, Monster, Coffee Wars, and Dr. Cheon and the Lost Talisman.
In a disclosure on Nov. 6, SM Prime said “cinemas, event ticket sales, and other revenues increased significantly to P7.7 billion from P3.5 billion in the same period last year” — a whopping 120% increase.
NOT AT PRE-PANDEMIC LEVELS YET
However, despite the seemingly positive growth in the country's cinema exhibition industry, it pales in comparison to pre-pandemic times.
Ms. Aganon of Ayala Malls Cinemas notes: “Although there's a considerable improvement compared to the previous year, it's important to note that the current performance is still 60% below pre-pandemic levels.”
Both companies acknowledge the arduous journey ahead for cinema operators. They cite the potential occurrence of another pandemic, evolving consumer behaviors, and the persistent issue of piracy.
But there will always be people who will want to go to the movie theater, according to Mr. Tan of SM Supermalls. This is why SM opened many cinemas in some of their malls this year: in Bataan, in Sto. Tomas in Batangas, and in Pulilan in Bulacan. Its newest IMAX theater opened in SM Iloilo just last month.
As the country's largest cinema operator, it has 384 screens combined nationwide.
BETTER TECHNOLOGY
To keep Filipinos coming back to the movies, it's also essential to continue bettering their current offerings, as per Ayala Malls Cinemas, a major runnerup cinema operator in the Philippines.
“Cinemas play an integral role in the malling experience for Filipinos. Along with our competitors, we persistently invest in upgrades and introduce new formats to enhance the overall cinematic experience,” said Ms. Aganon.
Both companies told BusinessWorld that audiences can look forward to more cutting-edge projectors, stateof-the-art