Movie Theaters Want You Back, So They're Rushing to Modernize
For many people, going to movies in the theater is more of a hassle than a joy -- why sit in an uncomfortable chair and spend upwards of $10 to get a ticket, plus the cost of popcorn and a drink? As the number of shows on television and subscription services surges and home theater systems improve, it takes a lot to get customers to leave their homes.
Lindsey Rupp and Jenny Kaplan talk with Anousha Sakoui, who covers the cinema and film industry for Bloomberg, about how the movie theaters industry got into this mess and the challenges that face them in regaining media dominance. Some startups, like MoviePass, which allows subscribers to see a movie every day for a month for $9.95 per month, are trying to getting customers to go to more films by offering them “bad-movie insurance,” says Chief Executive Officer Mitch Lowe. Cinemark, the third-largest movie chain, is also offering a subscription service and upgrading its theaters so customers can enjoy nicer seats and even perks like food and alcohol. Will these efforts to modernize be enough to win back consumers?
Every other week, hosts Jenny Kaplan and Lindsey Rupp guided you through the consumer universe, breaking down what's going on with all the things people buy. This will be the last episode of Material World.