So far, the 2016 box office has been a bummer, unless we’re talking about Disney, which has already banked $5 billion for the year. And multiplexes are also feeling the hurt, with the three-month period ending in June showing a 9.5% drop in ticket sales. Sure, the movies have been pretty underwhelming, but are audiences getting fed up with shelling out increasingly higher prices for a substandard experience?
According to the National Association of Theatre Owners, tickets now average $8.73, This is a price that would likely be welcomed by anyone living in a major metropolitan area, where prices tend to be much higher, yet it marks the highest figure as such in movie history. Data for this study was culled from across the country, which shows a three cent increase from the last year’s record of $8.70.
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The big question the industry has to ask is how much will be too much? Particularly in light of more options than ever at home, streaming and otherwise, grabbing the audience’s attention is harder than ever. And while some have suggested that Peak TV has made a dent in moviegoing habits, a counter-argument maintains that audiences will gladly pay for what they really want to see, with Universal banking a record breaking $7 billion year in 2015. Sure, that sum was propped up by “Jurassic World” and “Furious 7,” but it was also padded out by smaller hits like “Straight Outta Compton.” And more broadly, 2009-2014 were all $10 billion box office years for Hollywood.
That said, I would suggest that if prices are going to keep going up, then theaters will have to make more of an effort to put added value on the customer experience. While not every cinema has to be the Alamo Drafthouse, more care into quality projection, decent seats, and ensuring everything is optimal when the lights go down would go a long way in making moviegoers feel like their business is appreciated.
But I’m curious— how much are ticket prices where you are? What would be the limit, making you decide to stay home? Hit the comments section and let me know. [Variety]