Fathom Eventswhich screens films, TV series, concerts and other events in theaters for limited releases, had a record year for limited releases in 2024, with revenue up 45% to more than $145 million. CEO Ray Nutt also announced that the company would be renamed Fathom Entertainment from January.
Fathom’s Happy New Year comes as reissues of classic titles help attract moviegoers to theaters, even at a time when release schedules for new films are spotty. The company’s most recent home run was this year’s 15th anniversary re-release of “Coraline“, which grossed $34 million at the box office, becoming Fathom’s biggest hit ever.
The distributor, which is jointly owned by AMC Theaters, Cinemark Theaters and Regal Cinemas, has expanded to include more special engagements with longer release windows. The new name “reflects our significant growth and evolution and the start of a bold new chapter for the company in the rapidly evolving media and entertainment landscape,” the company said in a statement.
“With the volume of major theatrical releases dropping significantly post-COVID and the proliferation of at-home streaming options, today’s audiences are constantly looking for something new, different and exciting. only relevant in cinemas. Consumer enthusiasm and adoption of specialty content in theaters resulted in Fathom’s most profitable year ever,” Nutt said.
In 2024, Fathom marked 20 years of streaming films, performing arts, concerts and event programming in alternative formats and distribution windows. Previous successes included the entire fourth season of the series “The Chosen” with $32 million, and the 2023 release of “The Blind,” the Phil Robertson biopic of “Duck Dynasty,” with $17 million.
With “The Blind,” the initial seven-day run was extended for an additional six weeks, demonstrating audiences’ appetite for alternative content that “resonates with underserved communities,” as Fathom puts it. Fathom is present in 45 countries and works with film partners around the world.