Beginning today, the Wall Street Journal reports that many major movie chains, including Regal Entertainment Group, Cinemark Holdings Inc. and AMC Entertainment Inc., are raising prices for 3-D movie tickets. It reflects the steepest price increase in a decade. 3-D ticket prices are rising by as much as 26% in some areas, though the average increase will be closer to 8%. The average increase for IMAX screens is 10%. Some theaters in metropolitan areas will be charging nearly $20 for IMAX admissions.
The WSJ article, which is behind a subscription-wall, acknowledges that movie studios are wary the price increases could spark a consumer backlash:
Some movie-studio executives expressed concern that the price increases might be too much too soon. “The risk we run is that we will no longer be the value proposition that we as an industry have prided ourselves on,” said a distribution executive at one major studio, who added that he was worried movies would become “a luxury item.”