Speaking at an investor conference on Wednesday, senior executives at one of the nation’s largest movie theater chains said moviegoers should expect to pay more for tickets this year.
Regal Entertainment Group (RGC) CEO Amy Miles shrugged off predictions of the industry’s demise and said that consumers would continue to see first-run films in theaters, as long as they offered a “great, affordable, out-of-home experience,” Deadline Hollywood noted.
The company’s CFO predicted that tickets for regular movies at its cinemas would rise between 3% and 4% this year, in line with prior year increases. 3D movies viewed in Regal’s large-screen theaters will continue to see an added charge of up to $6.50 on top of the standard ticket price.
Despite frequent complaints about soaring movie ticket prices, Regal executives noted that people continue to fill theaters to see blockbuster movies like Disney’s (DIS) Iron Man 3, which brought in $175.3 million during its opening weekend.
Shares of Regal slipped fractionally in Thursday morning trading.