The eight biggest movie theater chains in the U.S. and Canada — including AMC, Regal, and Cinemark — announced Thursday, Sept. 19, they will be investing $2.2 billion to make improvements to modernize their theaters over the next three years. These theaters represent over 21,000 movie screens and 67% of box office sales.
The National Association of Theatre Owners said the funds will be used for various updates, including “adding the latest laser projection technology and immersive sound systems, installing more comfortable seating, enhancing food and beverage offerings, creating family entertainment options such as arcades and bowling, and investing in core site elements like state-of-the-art air conditioning, lighting, signage and carpeting.”
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In a statement, Michael O’Leary, the association’s president and CEO, said, “There is no question that movie fans of all ages love heading to the local theatre to see great movies on the big screen. But the competition for consumers’ hard-earned dollars is fiercer than ever.
“Going to the theatre is an unparalleled entertainment experience, and exhibitors are dedicated to making every visit to their theatres memorable. This investment reflects that commitment in a tangible way that every moviegoer will see and enjoy.”
Theaters have faced multiple challenges in recent years including shutdowns during the COVID-19 pandemic and a slim slate of offerings due to the Hollywood strikes. This year, summer box office totals trail 13% behind last year.
Theaters are now looking to reinvigorate themselves with these upgrades to keep moviegoers feeling like the star of the show.
