Hope you weren’t planning on buying popcorn at the movies this weekend, because you might not have any cash left after you pay for your higher-priced tickets.
A report in Barron’s states that, because year-to-date box office receipts are up 10% from the same time frame last year, theaters are jacking up their prices, especially on 3D films.
Their survey of 10 random theaters (and confirmed by an informal one I did on Fandango by punching in some zip codes from around the country) showed an average 4.1% increase in ticket prices for 2D movies this weekend. Here in New York, that’s translating to about $.50/ticket.
Meanwhile, non-Imax 3D ticket prices are increasing on an average of 8.3% this weekend. Using NYC as an example again, that’s an increase of $1.25/ticket.
Their survey found Imax tickets increasing by 9.9% over last week.
Says media analyst Richard Greenfield:
It appears that theater owners increasingly believe that consumers are so ‘hungry’ for 3D content that they will not mind paying substantially higher prices relative to 2D screenings and that for the best 3D presentation, even greater ticket price premiums are achievable.
Does this put a damper on anyone’s movie-going plans? Maybe we can all hop into the Hot Tub Time Machine and go back to a year when movies were affordable.
Movie Ticket Prices Heading Higher [Barrons]