Theater chains will spend $2.2 billlion to lure you back to the movies

Date:

Share:


The biggest theater chains in the US and Canada are giving their cinemas a major upgrade in hopes of enticing more people to watch movies outside of their homes. According to Variety, they’re planning to spend $2.2 billion to modernize 21,000 screens over the next three years — even adding activities audiences can do, like pickleball and ziplining. Michael O’Leary, the president and CEO of the National Association of Theatre Owners (NATO), told the publication that the industry feels it has “turned a corner” and that “audiences are coming back to the theaters.” However, they have to do more to make the shared cinematic experience more enjoyable.

People have become used to waiting for films to come out on streaming over the past years, after all, and they’re not going out for movies they don’t feel compelled to see as soon as they come out. The total US domestic revenue for this year’s summer box office, for instance, is over 10 percent lower than last year’s. Variety says AMC, Regal Cinemas, Cinemark, Cineplex, Marcus Theatres, B&B Theatres, Harkins Theatres and Santikos Entertainment have all told NATO that they’re investing money to better their facilities.

The companies are expected to spend their budgets on upgrading their laser projectors and their sound systems, as well as on installing more comfortable seating, better AC, lighting and carpeting. And, yes, they’re adding new attractions like pickleball courts, arcades, ziplines and bowling alleys, which could change what it means to go to the movies. The image above is a pickleball court at a B&B Theatre cinema. “This investment of resources is the next step in our industry’s ongoing commitment to ensuring that going to the theater remains a unique and special experience for generations to come,” O’Leary said. Whether the strategy works or not remains to be seen, but that these companies are willing to spend a collective amount of $2.2 billion in upgrades signifies that they’re at least in a better place than they were in at the height of the pandemic.



Source link

━ more like this

X CEO Linda Yaccarino is stepping down after two years

Linda Yaccarino is stepping down as CEO of X, apparently effective immediately. She posted the news, naturally, on X, saying "I’m immensely grateful...

Dr’s set to strike despite a pay rise and are showing ‘lack of respect’ giving just ‘two weeks notice’ – London Business News |...

Resident doctors formerly known as junior doctors are to strike on 25 July for five days as they are demanding a 29% pay...

IKEA goes all in on Matter with new smart home products

IKEA continues its push into the smart home category a new line of -compatible products, set to launch in January. The ready-to-assemble...

The end of the triple lock pension could be inevitable – London Business News | Londonlovesbusiness.com

The end of the triple lock pension could be inevitable due to the increasing cost of providing it to the UK’s aging population,...

Samsung Galaxy Z Flip 7 hands-on: Bigger screens, bigger battery, better foldable?

Once again, it’s time for Samsung’s mid-year Galaxy foldable showcase. Over the last 10 years, Samsung gave us curved edges, curved screens, and...
spot_img