Why Do Kids Get to Dictate What's at the Theater?
The cultural gap between parents and kids has grown so wide, the two virtually live in different societies. In the parents' society, says Shootout co-host Peter Bart, "the hottest touring group is the Police. The most surprising movie hit is The Bucket List. The Republican candidate for president is 71 years old... The hottest act at the Super Bowl was Tom Petty, who is in his mid 50s..."
The society of the parents also happens to be the fastest growing population segment; there are 78 million baby boomers (age 44 through 62). And they're the ones with the money. Those over 50 have an estimated spending power of $3.4 trillion.
So if there are more older folk and they're richer, why are movie studios and cultural marketers ignoring them in comparison to their kids?
"Of all the different quadrants that movie marketers track the most neglected is the graying quadrant... and they've got to pay attention," says Bart, who believe studios are missing out on a pot of gold.
Shootout co-host Peter Guber thinks the older movie audience exists but that it's not as golden as Bart believes.
"Studios recognize the audience is there," Guber says. "But getting them [to the theater] is a whole different matter...
He says that older audiences rely more on critics, which studios don't like to go through, and the value of older-skewing films is generally less in the submarkets, international, merchandising, sequels and music.
"It makes people financing films look at the other (audience) targets -- right or wrong."
Bart agrees that older audiences, who wait for critical approval, are slower to see a movie than younger ones who pile into the theater on opening weekend. "But when they react the results are better," Bart says. Guber disagrees. The glory for older skewing films may be there in terms of Oscars because the Academy is older, but "the gold is in [younger appealing] films -- those 17 films that were released last summer and did billions and billions and billions of dollars worldwide. The target of choice [for the studios] is that."
Bart believes the future will see marketers paying more attention to the older audience. "You are going to have more differentiated product...clearly identified audiences that are catered to in every market line. The marketing mania won't simply be devoted to the teens...in recognition of the fact that the kids and their parents and grandparents have absolutely nothing in common."
Are studios and marketers spending too much attention on kids and ignoring older audiences? Is this a mistake? Comment below.
I agree with Bart. I'm 50+ and I like films, but Hollywood seems to ignore me. As a consequence I watch mainly independent and art films, as well as classics via Netflix.
But Guber has a point; I nearly always consult RottenTomatoes before I buy tickets. Film-watching is discretionary for me -- I don't have to go just to have a date or to see my friends -- so I do have expectations for the $20 of tickets and popcorn. God help us if Hollywood fears an audience with a sophisticated expectation.
Critics don't dictate to me whether or not I will choose to see a specific movie. I usually don't agree with them anyway. I'm not going to attend a sophomoric film just to see a film either. I agree Hollywood is missing out by not appealing to an older generation. Eventually I think they will catch on....meanwhile they are missing out on a large profit segment. Maybe "good" movies will come back to the screen.
When we decide to watch a film, we older folks want quality. And quality is gonna cost ya! So naturally, the bean counters prefer to cater to the more economical youth demographic, who get turned on by fx and boobs. If I am right, then, it will have to be the small independent studios who cater to us old fogies And these studios will probably not make any money---but money is not important to those who appreciate high quality.
I totally agree. I've found that only independent films interest me now and yet where I live, the theaters only play the major films. Also all the theaters have the same movies. I have to drive quite a ways to find theaters with the independents or wait for the dvds. I'm so tired of the simpleton plots in the sequels and the gross-out humor in the questionable comedies. As a woman, I'd like to see more complex older women's films also. I don't want to see the usual Lifetime movie plots that have been recycled over and over. I hate to sound so negative but the industry could make a lot of money off of the older generation. We do have money and love movies but not what is being made at this time.
Interesting feedback on Bart and Guber's position. Not surprising in one sense as the multiplexes are indisputably chock full of testosterone, cgi and explosions. Yet there also seems wide agreement with the less indisputable parts of what Bart and Guber are saing -- that there is an older audience out there desirous of fare appealing to them and that they don't rush to a film but look for critics, or friends, or other word-of-mouth, to clue them in on its contents and quality first.
One point both missed...I am much more likely to buy a ticket for a film marketed to a younger audience than they are to buy one for my age group. This makes me a bigger purchaser of their product over the course of a year.