Movie theater customers are spending more money after reopenings
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The summer blockbuster is back after movie theaters across the country have reopened from their coronavirus shutdowns – and so are the ever-rising costs of seeing new flicks in the theater.
Moviegoers are spending more now than they did before the pandemic, according to an analysis from the Bloomberg Second Measure Data Points blog.
The average transactions at major theater chains AMC and Cinemark as of March 2020 were $22 and $17, respectively, Data Points found. Both companies saw those figures dip during the pandemic, but they have since risen past their pre-pandemic averages and, as of June, sat at $26 for AMC and $21 for Cinemark.
|AMC||AMC ENTERTAINMENT HOLDINGS INC||29.84||-3.75||-11.16%|
|CNK||CINEMARK HOLDINGS, INC.||14.33||-0.74||-4.91%|
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What could have caused the increase? Data Points suggested additional fees for tickets ordered online could be responsible, or the introduction of private theater rentals.
And while no title so far this year have approached the $858.4 million of domestic box office gross "Avengers: Endgame" drew in 2019, titles like "F9: The Fast Saga" and "Black Widow" have already brought in more money than nearly every movie released in 2020, even before counting what they earned from online streaming.