Movie Theater Tickets Are Getting More Expensive
by EG
If it seemed like that ticket to see The Batman in a movie theater was more expensive than it used to be, that's because it was. For the first time in the US, major theater chains tacked a surcharge on to tickets for last week's top movie, and tickets were as much as $1.50 more expensive than would have been otherwise. It's an unprecedented move, and it's probably going to keep happening. Read on for details.
The bat’s out of the bag.
On March 1, AMC Theatres chief Adam Aron revealed during an investor call that the world’s largest circuit was going to employ surge pricing and charge more in North America for tickets to see The Batman, starring Robert Pattinson.
The surcharge, ranging from $1 to $1.50, will remain in place for eight days, insiders tell The Hollywood Reporter.
It turns out AMC isn’t the only chain upping the stakes as the exhibition emerges from the pandemic. Cinemark Theatres and Regal Cinemas, the country’s two other largest circuits, also experimented with surge pricing for Warner Bros.’ The Batman. Not only that, Cinemark and Regal began employing the increases during the December opening weekend of Sony’s box office behemoth Spider-Man: No Way Home. The difference: They didn’t go public with their plans; Aron did.
Over the March 4-6 weekend, The Batman flew to an impressive $134 million, the second-best opening of the pandemic era behind Spider-Man: No Way Home. It’s also director Matt Reeves’ biggest opening to date and is only the second picture since December 2019 to cross $100 million at the box office in its launch.
Overseas, the major circuits, including AMC, have employed variable and surge pricing for years; but until now, it hasn’t been used in the U.S.
Aron changed the conversation by making AMC’s decision public. His chain, like its competitors, can’t talk about any specific pricing plans going forward, per government regulations.
Cinemark’s price increase in North America has ranged from $1 in about two-thirds of its locations, and 50 cents in the rest.
AMC celebrated the results of Batman in a press release issued Monday, noting that the circuit accounted for 29 percent of market share for The Batman, which is higher than normal (the company didn’t say what its average share is). In addition to regular digital screenings, AMC’s haul included grosses from Imax, premium large format, Dolby Cinema and PRIME auditoriums, which already carry a hefty upcharge.
Get the rest of the story at The Hollywood Reporter.