THE (TOP) PRICE IS RIGHT

The reopening of movie theaters post pandemic has seen a surge in business for IMAX and other premium priced screens.

After over a year indoors, it’s clear that filmgoers are now prepared to pay more for an enhanced experience with the best digital projection and sound enjoyed from plush seats.

Typical of the trend was the box office for spring 2021’s only blockbuster, Godzilla vs. Kong, which drew 27 percent of its US audience on large or luxury screens – a sector which normally accounts for 15 percent of business.

China, Japan and other international markets have seen a similar boom in the more upscale screenings for a range of movies.

Exhibitors are encouraged by the development which, given the higher pricing in such screens, should help hasten the financial recovery of an industry hard-hit by Covid-19 and facing strong competition from streamers.

“As we approach a new normal, venturing outside the house needs to be special, perfect, and amazing,” said Tim League, co-founder of upscale American chain Alamo Drafthouse Cinemas, explaining the luxury boom.