Ahead of its annual fall summit, the National Association of Theater Owners says that eight of the top movie theater chains in North America are committed to invest a combined $2.2 billion in modernizing and upgrading their cinemas over the next three years.
“There is no question that movie fans of all ages love heading to the local theatre to see great movies on the big screen. But the competition for consumers’ hard-earned dollars is fiercer than ever,” said NATO President & CEO Michael O’Leary. “Going to the theatre is an unparalleled entertainment experience, and exhibitors are dedicated to making every visit to their theatres memorable. This investment reflects that commitment in a tangible way that every moviegoer will see and enjoy.”
The new initiative reflects a top priority for O’Leary and his NATO team since he took charge of the exhibitor trade organization in spring 2023. As theaters look to a revived box office in 2025 with no pandemics or industry strikes to derail it, NATO is looking to address a common complaint from moviegoers: a poor theatrical experience due to substandard sound and picture and outdated auditoriums.
To this end, the top theater chains are pursuing major capital investments in refurbishments, including adding the latest laser projection
technology and immersive sound systems, installing more comfortable seating,
enhancing food and beverage offerings, creating family entertainment options such as arcades and bowling, and investing in core site elements like state-of-the-art air conditioning, lighting, signage and carpeting.
The eight chains included in NATO’s projections are AMC, Regal Cinemas, Cinemark, Cineplex, B&B Theatres, Harkins Theatres, Marcus Theatres, and Santikos Entertainment.
“Today’s consumers rightly demand the best possible experience when they visit our theatres. Operating a theatre today is a capital-intensive operation,” said NATO Executive Board Chair and CEO of B&B Theatres, Bob Bagby. “This investment of resources is the next step in our industry’s ongoing commitment to ensuring that going to the theatre remains a unique and special experience for generations to come.”
