Ahead of its annual fall meeting, the National Association of Theatre Owners says the eight major theater chains in North America have committed to investing $2.2 billion over the next three years to upgrade and modernize their theaters.
“There’s no question that moviegoers of all ages love going to their local theater to see great films on the big screen. But the competition for consumers’ hard-earned dollars is fiercer than ever,” said NATO President and CEO Michael O’Leary. “Going to the theater is a unique entertainment experience, and exhibitors strive to make every visit to their theaters memorable. The investment clearly reflects this commitment to making it a memorable experience for every moviegoer to see and enjoy.”
The new initiative reflects a top priority for O’Leary and his NATO team after he takes over leadership of the trade show organization in spring 2023. As theaters look to see a box office resurgence in 2025 — absent a pandemic or industrial strike to derail it — NATO is looking to address a common complaint from moviegoers: a poor moviegoing experience due to poor sound and picture quality and outdated theaters.
To this end, major cinema chains are investing in major renovations, including the addition of the latest laser projections.
technology and immersive sound systems, installation of comfortable spaces,
improve the food and beverage offering, create family entertainment options such as games rooms and bowling, and invest in key site elements such as modern air conditioning, lighting, signage and carpeting.
The eight chains included in the NATO screenings are AMC, Regal Cinemas, Cinemark, Cineplex, B&B Theatres, Harkins Theatres, Marcus Theatres and Santikos Entertainment.
“Today’s consumers rightly demand the best experience when they visit our theaters. Operating a theater today is a capital-intensive operation,” said B&B Theatres NATO President and CEO Bob Bagby. “This investment of resources is the next step in our industry’s ongoing commitment to ensuring that theatergoing remains a unique and special experience for generations to come.”
