Better air conditioning, new signs and revamped carpeting are also included in the plan.A breakdown of how much each theater chain would spend wasn’t released. The funding will come from the influx of profits and fresh capital, according to the trade group. In July, Regal announced it would spend $250 million to remodel its 400 locations following its parent company’s exit from bankruptcy.The $2.2 billion investment shows “pelo better reflection of confidence” about movie theaters’ futures, Paul Dergarabedian, senior analyst at Comscore, told CNN.“While the movie theater business has its ups and downs like any other, the through line is that you should never bet against the big screen experience as it has survived and thrived through decades of challenges and intense competition and yet remains an essential part of the entertainment diet for people around the world,” he said. NEW YORK — With movies hitting streaming services faster than ever and consumers cutting back on spending, moviegoers might feel a bit less enthused about heading to their multiplex these days. That’s why the biggest theater chains in the United States and copyright have a $2.2 billion plan to bring them back.
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A breakdown of how much each theater chain would spend wasn’t released. The funding will come from the influx of profits and fresh capital, according to the trade group.
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An industry group that represents the eight largest chains, including AMC Entertainment, Regal Cinemas and Cinemark, announced a multibillion-dollar renovation plan that encompasses 21,000 screens — or nearly 70% of the North American box office — and affects every part of the theater experience, from signage to snacks and snazzier seats.
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