Movie theaters get creative with food and drink as they struggle to fill seats
Publishing timestamp: 2023-02-08 14:22:10
Summary
Movie theaters have been struggling to fill seats during the Covid pandemic, and have been forced to change their menus and launch creative food initiatives to increase revenue. Theaters generate significantly more profitability from concessions than from ticket sales, and have been using the pandemic to make concession sales more streamlined. Some theaters have adopted dine-in models, while others have shortened menus and introduced themed drinks. Despite rate hikes, theaters have not seen pressure on consumer concessions spending.
Sentiment: MIXED
Tickers: AMC, MCS, CINE-GB, CNK, CNWGY,
Keywords: cineworld group plc, theater, amc entertainment holdings inc, movies, entertainment, business, food and drink, business news, marcus corp, media, cinemark holdings inc,
Source: https://www.cnbc.com/2023/02/08/movie-theaters-upscale-food-empty-seats.html