That’s why the biggest theater chains in the United States and Canada have a $2.2 billion plan to bring them back.
Large chains are also facing competition from luxury theaters offering an enhanced viewing experience, like IPIC Theaters and Alamo Drafthouse.
Better air conditioning, new signs and revamped carpeting are also included in the plan.
In July, Regal announced it would spend $250 million to remodel its 400 locations following its parent company’s exit from bankruptcy.
The $2.2 billion investment shows “no better reflection of confidence” about movie theaters’ future, Paul Dergarabedian, senior analyst at Comscore, told CNN.
Persons:
Cinemark, Paul Dergarabedian, ”
Organizations:
New, New York CNN, AMC Entertainment, Regal, American, IPIC, Sony Pictures Entertainment, National Association of Theatre Owners, NATO, CNN, “
Locations:
New York, United States, Canada