Regal Execs Say Their Ticket Prices Will Rise Nearly 4% This Year

CEO Amy Miles seems confident that consumers will continue to flock to theaters, even with the higher admission costs. “Sometimes we joke and say we are an industry that has been dying for the past 50 years,” she told investors today at Barclays Global Technology, Media and Telecommunications Conference. But “as long as we continue to provide that great, affordable out-of-home experience…people are going to continue to go to the movies.” What’s “affordable” is in the eye of the beholder: Regal CFO David Ownby told the group that his company’s ticket prices for 2D movies “will go up in that 3% to 4% range” that’s been the pattern over the last few years. He notes that for IMAX movies Regal adds as much as $6.50 to the price of the basic 2D ticket. The chain’s own RPX large-screen venues have as much as a $5.00 upcharge while regular 3D films cost about $3.50 more than conventional 2D. This year’s potential blockbusters should help the cause. (more…)

This article was printed from https://deadline.com/2013/05/regal-execs-say-their-ticket-prices-will-rise-nearly-4-this-year-506331/