The success of premium Avatar and Alice in Wonderland screenings are finally factoring into multiplex ticket prices.
This morning's Wall Street Journal reveals that many of the country's top exhibitors -- including AMC, Regal
I checked the online ticketing prices for my local AMC and the article is spot on. Disney's
The article checks into a few theaters, pointing out that IMAX prices will also be going up between $2 and $3 per person.
Will movie buffs pay? This remains to be seen, though shares of Regal, Carmike, and IMAX all opened nicely higher today.
There is at least one piece of anecdotal evidence that suggests that consumers will pay up. During Avatar's opening weekend, IMAX accounted for 13% of the country's box office receipts. It's an impressive sum when one considers that IMAX accounts for just 2% to 3% of screens showing James Cameron's sci-fi blockbuster.
The bigger number makes sense, since IMAX theaters tend to be larger and exhibitors are charging more. However, by the 10th weekend, News Corp.'s
If audiences take to the new prices this would be huge for IMAX. It now has a greater stake in the ticket sales as a result of its joint-venture arrangements with exhibitors including AMC and Regal. Success will also likely generate even more orders for IMAX installations.
The timing of the hike isn't perfect for IMAX. Many screens will be switching out Alice in Wonderland for the DreamWorks Animation's
After topping $10 billion in ticket sales for the first time ever last year -- and padded by a 5.5% spike in actual attendance before considering the impact of higher prices -- movie theaters are hot again. It's about time that exhibitors learn to train their dragons.
Are ticket prices getting out of control? Share your perspective in the comments box below.