Part 3/17:
This perspective essentially amounts to rearranging deck chairs on the Titanic. The industry blames declining ticket sales, which fell to a sixth of 2020 figures, and struggles to recover from the pandemic's blow. Despite the pandemic easing, cinema attendance remains below pre-2019 levels, with the number of tickets sold at just 62% of that year's figure. Inflation-adjusted figures paint an even bleaker picture: the industry's assumptions about value and profitability are fundamentally flawed.