America's second-largest movie theater chain, Regal Cinemas, will begin testing demand-based pricing for movies in 2018, with blockbusters costing moviegoers more than box office letdowns, Bloomberg Pursuits reports. "Changes to the historical pricing structure have often been discussed but rarely tested in our industry, and we're excited to learn even more about how pricing changes impact customer behavior," explained Regal CEO Amy Miles.
Theaters across the country have struggled to sell movie tickets due to the proliferation of streaming services like Netflix. Regal reported Tuesday that its revenue has dropped 12 percent from 2016, although it credited a slow movie year for the disappointing numbers. First quarter movie ticket prices in 2017 were at an all-time high, with the average film costing $8.84, The Hollywood Reporter writes.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Today's political cartoons - November 2, 2024Cartoons Saturday's cartoons - anti-fascism, early voter turnout, and more
-
Geoff Capes obituary: shot-putter who became the World’s Strongest ManIn the Spotlight The 'mighty figure' was a two-time Commonwealth Champion and world-record holder
-
Israel attacks Iran: a 'limited' retaliationTalking Point Iran's humiliated leaders must decide how to respond to Netanyahu's measured strike
-
US economy still strong in final preelection reportSpeed Read It grew at a solid 2.8% annual rate from July through September
-
Boeing machinists reject deal, continue strikeSpeed Read The rejection came the same day Boeing reported a $6.2 billion quarterly loss
-
Ports reopen after dockworkers halt strikeSpeed Read The 36 ports that closed this week, from Maine to Texas, will start reopening today
-
Empty-nest boomers aren't selling their big homesSpeed Read Most Americans 60 and older do not intend to move, according to a recent survey
-
Brazil accuses Musk of 'disinformation campaign'Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
-
Disney board fends off Peltz infiltration bidSpeed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
-
Disney and DeSantis reach detenteSpeed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
-
Visa and Mastercard agree to lower swipe feesSpeed Read The companies will cap the fees they charge businesses when customers use their credit cards
