Major Movie Theater Chains Unveil $2.2-Billion Makeover Plan

In response to the rapid rise of streaming services and consumer spending cuts, North America’s largest movie theater chains have unveiled a $2.2-billion plan to entice moviegoers back to the theaters, CNN's Jordan Valinsky reported.

The industry group represents the eight largest cinema chains, including AMC Entertainment, Regal Cinemas, and Cinemark. I Photo: AMC Entertainment

The industry group representing the eight largest chains, including AMC Entertainment, Regal Cinemas, and Cinemark, announced a massive renovation plan affecting 21,000 screens—almost 70% of the North American box office.

The three-year investment will upgrade every aspect of the theater experience, from improved signage to premium seating.

This comes after a recent box office resurgence following dual Hollywood strikes and the COVID-19 pandemic, which shuttered theaters and restricted new releases.

Theaters are also facing competition from luxury cinemas like IPIC Theaters and Alamo Drafthouse, the latter recently acquired by Sony Pictures Entertainment.

The National Association of Theatre Owners (NATO) stated that “competition for consumers’ hard-earned dollars is fiercer than ever,” and the renovations aim to give moviegoers an enhanced experience.

Upgrades will include the latest projection and sound systems, better concessions, new entertainment areas such as arcades or bowling alleys, improved air conditioning, and revamped signage and carpeting.