“Overseas, the major circuits, including AMC, have employed variable pricing for years, but until now, the tactic has not been used in the domestic market” –Paul Ebeling
On 1 March, AMC Theaters (NYSE:AMC) CEO Adam Aron revealed during an investor call that the world’s largest circuit was going to employ surge pricing and charge more in North America for tickets to see The Batman.
The surcharge, ranging from $1 to $1.50, will remain in place for 8 days, insiders said.
AMC is not the only chain upping the stakes as the exhibition emerges from the VirusCasedemic. Cinemark Theatres and Regal Cinemas, the country’s 2 other largest circuits, also experimented with surge pricing for Warner Bros.’ The Batman. Not only that, Cinemark and Regal began employing the increases during the December opening weekend of Sony’s box office behemoth Spider-Man: No Way Home. The difference: They did not go public with their plans AMC’s CEO Aron did.
Over the 4-6 March weekend, The Batman flew to an impressive $134-M, director Matt Reeves’ biggest opening to date and is only the 2nd picture since December 2019 to cross $100-M at the box office in its launch.
AMC celebrated the results of Batman in a press release issued Monday, noting that the circuit accounted for 29% of market share for The Batman, which is higher than normal. In addition to regular digital screenings, AMC’s take included grosses from Imax, premium large format, Dolby Cinema and PRIME auditoriums, which already carry and upcharge.
Have some fun, see a movie in a theater this week, the chaos is over, Keep the Faith!