Regal Cinemas Says Movie Ticket Prices to Rise

by Christopher Freeburn | May 23, 2013 11:32 am

Regal Cinemas Says Movie Ticket Prices to Rise

regal cinemas imax 630 flickr 300x225 Regal Cinemas Says Movie Ticket Prices to Rise[1]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[2].

Regal Entertainment Group (RGC[3]) 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[4]) Iron Man 3, which brought in $175.3 million during its opening weekend[5].

Shares of Regal slipped fractionally in Thursday morning trading.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2011/08/regal_cinemas_imax_630_flickr.jpg
  2. should expect to pay more for tickets this year: http://www.deadline.com/2013/05/regal-execs-say-their-ticket-prices-will-rise-nearly-4-this-year/
  3. RGC: http://studio-5.financialcontent.com/investplace/quote?Symbol=RGC
  4. DIS: http://studio-5.financialcontent.com/investplace/quote?Symbol=DIS
  5. during its opening weekend: http://investorplace.com/2013/05/iron-man-3-continues-to-rake-in-the-cash/

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