Our take...
The ability to charge a higher ticket premium for the 3D concert film (average $15.00), was a key driver behind the impressive per theatre revenues. A short survey we conducted indicated that tickets were actually priced at more than a 50 per cent premium compared with regular 2D versions of other movies playing in the same theatres (average $9.50). The highest prices were charged by select venues of National Amusements ($20.00), with most other chains charging $15.00 per ticket, or in the case of Carmike at $18.00, with Harkins Theatres the lowest on just $11.00. The opening weekend per theatre averages from the 3D concert film are also impressive compared with Disney's Nightmare before Christmas 3-D, re-released in just 168 digital 3D only theatres for a per theatre revenue average of $19,506 in the US 2006 opening weekend ($9,450 per screen in 564 theatres in 2007).
The positive box office performance follows the news that Disney/Pixar will repurpose the popular Toy Story franchise in 3D (the first two movies) for release in 2009/2010, as well as author the third movie in 3D for release in 2010. These titles add to the growing list of digital 3D titles scheduled and push the potential number of releases to well over ten in 2009. In particular, the final quarter of 2009 is looking crowded for digital 3D titles, where two or more 3D titles would need to be screened simultaneously in theatres. The (five) titles competing for screen time in the fourth quarter 2009 include tent-poles such as Toy-Story (October), Avatar (December), and How to Train Your Dragon (November), the latter the second of a 3D-only slate from Dreamworks Animation.