Mine is a comedy, which to me means diminishing returns with each viewing. I saw it way too many times in the first couple of years. It still has yet to be dethroned, but it's hard to get the same enjoyment out of it as that first time in theaters.
I rarely have a favorite movie. If I really really enjoy a movie, I usually watch it again and in some cases again within a week or so and then never again unless by chance, but at that point it's not nearly as enjoyable and wouldn't consider it a favorite.
I never go more than a year or two without rewatching the LOTR trilogy. (Seen the extended re-release in theaters twice now and will do it again when available.)
I watch John Carpenter's The Thing every Halloween. Other than that i will watch a Star Wars or LOTR movie when I'm bored maybe 3-4 times per year for these.
Godfather geeze... I don't know maybe 5-10 times per year. But that's not start to finish. If it's on I'll stop down and watch wherever it is.
But I do make sure to watch it start to end at least once a year - and every few years I'll watch the combo of I and II called Godfather Saga or now the HBO Godfather Epic that includes deleted scenes. It's 7 hours so I'll break it up over a couple of nights.
My other favorite Star Wars I've literally seen hundreds of times. And I make sure to watch it at least once per year all the way through.
I also do try to watch each of my Christmas favorites EVERY year - but I failed this year and only saw 2 of them: Scrooged A Christmas Story The Grinch Die Hard
My favorite movie is the Matrix and I haven't seen it in 10+ years. I don't watch movies over and over again. Maybe twice only if I want to experience it with someone else.
I used to watch movies over and over, but that was when I had more free time. Now that my weekends are basically chauffeur/babysitting duty, my movie time is more limited and precious.
That said, I'll watch certain movies once every year or so.
I average 2-3 years between viewings of my favorites. The good thing is that my list of favorites has grown over the years, so the time between viewings is constantly getting longer which helps the favorites stay fresher.
Repeat viewings were more common for me pre streaming services. I'd catch a movie part of the way through while flipping channels and enjoy that piece. I own my top 20+ movies but I rarely watch them as my urge to find the next great movie is stronger than my nostalgia.