Movie theaters are slowly returning to daily life, thanks in large part to the blockbuster efforts of major studios like Marvel Studios and Warner Bros. Spider-Man: Nowhere to Go became the sixth-highest-grossing MCU film of all time, while Doctor Strange 2 looks comparable to these totals, while WB’s Batman It also grossed more than $750 million at box office worldwide.
As more films continue to be released for the rest of the year, the box office will likely continue to recover to levels almost as it did before the global COVID-19 pandemic left its mark on the cinematic experience.Marvel Studios has two potential moneymakers this year Thor: Love and Thunder and Black Panther: Wakanda Forever And DC has Dwayne Johnson’s black adam and Zachary Levi’s Shazam! : Wrath of the Godsthough it’s not just the movies themselves that are boosting box office returns.
before Batman‘s release, AMC announced The company will implement surge pricing for certain movies, meaning those tickets will be $1 to $1.50 more in the first week of release. Now, as new hit movies prepare to make their mark on the big screen, it looks like the superhero genre will continue down that path for the foreseeable future.
Marvel and DC may experience ticket surge
type Talk to Adam Aron, CEO of AMC Theaters, about the extra fare for high-profile Marvel and DC movies.
Aron notes that this strategy has been a huge success because it only adds $1 to the fare, rather than doubling it:
“It was a huge success. We looked at our market share on Batman and obviously we did better by charging a dollar premium. And it’s only $1. It’s not like we’re charging double the price. There’s so much demand, people are willing to pay.”
Aron made sure the move was known to the audience, believing that such a subject would be transparent. He made it clear that it’s not so the company can brag about it, but so fans can see exactly what’s going on financially:
“It’s simple. We’re an NYSE-listed company. When you do something important, it’s your responsibility to talk about it publicly. As a company, we believe in transparency. We don’t want to hide what we’re doing. We don’t want to brag about it. What we’re doing…but we don’t want to hide what we’re doing. Why they don’t talk about it, you have to ask them.”
When asked if fares will go up Doctor Strange in the Multiverse of Madness As with other upcoming Marvel movies, Aron couldn’t comment on the matter, but he did say fans will know exactly how much tickets will cost:
“The good news is that I like to follow the law. The laws in the U.S. don’t allow me to talk about pricing in advance. I can only talk about pricing events retrospectively. I can’t make any public comments. Tickets will go on sale and people will know what we’re charging.”
The same will be true for arthouse films and films that have been in theaters for a while, as Aron was unable to comment for this matter, but assured readers that ticket prices will be transparent based on supply and demand:
“Same answer to similar questions. It’s illegal for me to talk about future pricing. I can’t speculate. If you go back to the law of supply and demand, which is the first thing they teach you in economics class, it does say that when demand is Prices rise when demand is high and fall when demand is low.
Company executives reaffirmed that AMC has “Better not to charge $1 premiums” on film Batman. This also includes plans such as using Tuesday discounts and different matinee prices:
“All I can say is that in Batman, we knew it would be better to charge a $1 premium. We have a lot of discount programs that we’ve been actively embracing: Tuesday discounts; ; and our subscription plan A-list.”
Soaring ticket prices greatly help theaters
The movie-watching experience has had to go through countless tweaks over the past few years, especially more than a year after movies were sent directly to streaming services. While the likes of Marvel and DC did help bring theaters back, this new pricing strategy seems to have worked wonders for theaters that housed these big-budget blockbusters.
While Aron didn’t specify whether subsequent releases will experience price spikes like future Marvel movies, such as Batman, The financial success of the pricing strategy and consumers’ high willingness to pay suggest this will become the norm for blockbusters. In theory, this should allow theater chains to benefit from larger movie releases, allowing them to take a hit on smaller, less-likely independent films.
As the film industry continues to recover to where it was more than two years ago, it’s clear that small ticket price hikes for top-grossing films aren’t going away anytime soon. The best part is that it will help everyone involved in the process, from the studios that make the movies to the theaters that play them on the big screen, all for a small amount of money from fans.
DC’s next theatrical show will be Dwayne Johnson’s black adam, which opens in theaters on October 21.Marvel will bring Doctor Strange in the Multiverse of Madness May 6.