Alkami Telemetry Data – Movie Ticket Trend
Barbenheimer brings people back to the theater, with transaction amounts through June 25.5 percent higher on average compared to 2019
Source: 2023 Alkami Telemetry Data is sourced from a panel of more than 20 financial institutions with a range of asset sizes from $500M to $15B. The data panel represents 2.16 billion transactions analyzed representing the financial behaviors of 1.1 million account holders.
What we’re seeing: Inflation impacts all areas of our lives, including movie tickets. Even so, the dual-blockbuster release of Barbie and Oppenheimer continued to bring people back to the movie theater. The average transaction at a theater was $25.33 in June of 2023, which is 25.5 percent higher than the average transaction size of $20.18 in the pre-covid times of June 2019.
The price is higher, but people are still returning to the theaters. For those that did go to the movies, the average number of transactions in June 2023 was 1.6, exactly the same average as in June 2019. Overall, the number of people going to the movies at all was only 6 percent lower in June 2023 than in 2019, although general attendance for the year is 14.5 percent lower than the full first 6 months of 2019.
Takeaway & Call to action for FIs: A popular saying in marketing is “advertise where your customers are.” A test and learn option, if the marketing budget allows, is to produce highly targeted messaging and content for an on-screen pre-movie advertising opportunity and connect the offer to debit or credit card benefits.
Interested in learning how customer insights can empower your financial institution to grow your business?