Cinema revenue in Romania declined by 5% in 2024, with a total expenditure of EUR 59 million, compared to the previous year.
Cinema Attendances Plummet in Romania, Chain Reactions Ahead
The Romanian cinema scene took a hit in 2024, with a staggering 15% drop in ticket sales compared to the previous year, amounting to a loss of over 1.9 million viewings, according to data crunched by Cushman & Wakefield Echinox [1][3][2]. Although ticket prices escalated by a whopping 10%, cinemas struggled to boost revenues, with box office takings dipping by a modest 5%.
A Shift in the Romanian Cinema Landscape
The Romanian Film Center's report highlighted a couple of significant trends that explain this downward spiral. For one, consumers may be gravitating towards home entertainment options, or perhaps swept away by the rapid rise in streaming platforms, diverting their leisure spending away from traditional cinemas [3][2]. Another factor could be the waning interest in mainstream films, with an evident lack of major blockbusters or compelling local content [5].
The economic landscape could be playing a role too, as increasing living costs burden wallets and shape consumption patterns [3][2]. It should be noted that while the Romania’s cinema market is yet to fully recuperate to its pre-pandemic heights, this predicament isn't exclusive to the country—most European countries are still grappling with their own recovery [4].
Urban Fortresses under Siege
Considering the cities with the highest attendance, the five powerhouses—Bucharest, Constanta, Cluj-Napoca, Timisoara, and Brasov—each experienced double-digit percentage drops in viewers. Bucharest, for example, saw a disappointing 13% decline in spectators, with 3.5 million tickets sold [2].
Regional Shifts Uncovered
Amidst the doom and gloom, there are glimmers of hope. Iasi and Prahova counties bucked the trend, registering an increase in cinema-goers, suggesting a potential regional shift in viewing habits [3].
Dana Radoveneanu, Head of Retail Agency at Cushman & Wakefield Echinox, commented on the situation, "The evolution of the cinema market is a mirror reflection of changing consumer preferences. In this digital age, traditional cinemas are under pressure to redefine their role in the entertainment ecosystem. To stay competitive, they need to invest in multifunctional spaces that unite retail, culture, social experiences, and technology tailored to the audience of tomorrow." [1]
In light of these challenges, cinema operators might need to strategize more carefully to recoup losses. Rethinking programming, pricing, and operational costs could be on the table, perhaps leading to more conservative investments or promotional activities [3][2].
[1] Irina Marica, 2024, Romania Insider
[2] Cushman & Wakefield Echinox, 2024, Romanian Film Center Analysis
[3] Data from Romanian Film Center
[4] European Audiovisual Observatory, 2023, European Cinema Attendance Report
[5] Screen Daily, 2024, European Cinema Attendance Drops Sharply in 2024
(Photo source: L*eoraduga/Dreamstime.com)*
Movies-and-TV entertainment may be seeing an increase in popularity as a result of the decrease in cinemagoers, with streaming platforms providing a more attractive home entertainment option. The change in consumer preferences could put pressure on traditional cinemas to adapt and evolve, with a need to invest in multifunctional spaces and technology to remain competitive in the entertainment ecosystem.
