GoKawiilWould you pay $50 to see a movie in the theater? Regal Cinemas charged exactly that for opening-night tickets to Dune: Part Three in its best theaters, and they sold out immediately, reports the Wall Street Journal.
The cinema industry is copying the playbooks of airlines and hotels, getting people who love movies to pay a premium price. Theaters with bigger screens and better sound now account for 17% of film tickets sold, up from 13% in 2021. Movie buffs are paying top dollar while the rest of the country gets most entertainment from Netflix, YouTube and TikTok.
But some Hollywood executives are worried. Sony Pictures chairman Tom Rothman told theater operators at CinemaCon that going to the movies “must be more affordable again.” Their concern is that rising costs are turning moviegoing into a pricey special occasion rather than an inexpensive regular habit. Still, theaters are making it work. AMC CEO Adam Aron said the chain is making more money per patron than before Covid, and concession spending has grown 220% over the past 20 years.