Premium tickets or discounts? Cineplex CEO 'experiments' with ticket price
Premium tickets or discounts? Cineplex CEO 'experiments' with ticket price
A Cineplex Odeon Cinema in Oshawa, Ont., on Jan. 21, 2022. (THE CANADIAN PRESS / Doug Ives)
TORONTO -
While audiences rush back to theatres to catch "Avatar: The Way of Water" on pricey Imax screens, the head of Cineplex Inc. says he's open to "experiments" with cheaper tickets for some movies if they might lure back people who are staying home.
Chief executive Ellis Jacob said Canada's biggest movie chain is looking at "different pricing for different types of product," which this month included a rare discount on tickets to "80 For Brady." The comedy is aimed directly at senior citizens, a demographic that's been reluctant to return to the movies.
"We want to be accommodating to our guests and we want to have the right pricing for the opportunity," Jacob said on Tuesday as Cineplex reported its fourth-quarter results.
Ticket prices have become a greater focus for movie chains across North America as they look to drive profits after years of staggered closures, but keep audiences coming back in a troubled economy with plenty of streaming alternatives.
In the latest quarter, Cineplex leaned on premium Imax and UltraAVX tickets for the "Avatar" sequel and other blockbusters to help turn around a loss.
The company reported a profit of $10.2 million to end the calendar year, compared with a loss of $21.8 million in late 2021. The results were equivalent to 16 cents per diluted share or 34 cents per diluted share a year earlier.
Revenue totalled $350.1 million, up from $300 million a year earlier.
The "Avatar" sequel and "Black Panther: Wakanda Forever" were bright spots in the period, which faced a drought of new movies and moviegoers.
That void showed in the attendance numbers which dropped to 9.2 million customers from 10.2 million in the fourth quarter of 2021 when "Spider-Man: No Way Home" smashed box-office records.
Concession revenues still managed to reach a new high of $8.93 per person as moviegoers gobbled up pricier snacks, while box-office revenues hit a record of $13.06 per person driven by those premium-priced tickets.
While some moviegoers are willing to pay for more expensive nights out, Jacob said lowering the cost of tickets might make sense in other instances, though it would depend on the Hollywood title.
In the case of "80 For Brady," which opened on Feb. 3, he says the film's distributor Paramount Pictures asked Cineplex to sell tickets at Tuesday prices for any day of the week -- a 40 per cent discount. Already discounted senior tickets were reduced by a lesser amount of roughly 13 per cent.
The movie stars Jane Fonda, Lily Tomlin and football quarterback Tom Brady, and is squarely aimed at older audiences.
A similar discount was made by U.S. chain AMC which charged matinee prices for the film.
Also this week, AMC announced it will soon charge different ticket prices depending on where the seat is located inside the theatre. The move was immediately met with backlash from moviegoers, including actor Elijah Wood who tweeted it would "penalize people" who couldn't afford it.
While Jacob didn't rule out a similar move at Cineplex, he said it's not something the company is looking at right now and that he intends to be "very careful" when considering such models.
Cineplex mingled with the concept on a smaller scale when it charged more for "prime seating" at the centre of the auditorium in some of its more upscale locations. Those experiments were abandoned early in the pandemic, Jacob said, partly because people were sitting in other people's "prime" seats without paying for them.
"It's difficult to navigate when the show has started and people are fighting for the seats," he added.
Cineplex hopes a new theatre, dining and entertainment complex called Junxion will be a more successful way to boost sales and attract customers.
The hybrid venue opened in Winnipeg last December and features six auditoriums with reclining seats, an arcade, a live entertainment space and dining options.
This report by The Canadian Press was first published Feb. 7, 2023
As Joe Biden makes his first trip to Canada as president of the United States, CTVNews.ca is offering live coverage of the leader's visit. Follow our live blog on CTVNews.ca and the CTV News app for the latest updates.
U.S. President Joe Biden arrived on Parliament Hill saying that he and Prime Minister Justin Trudeau "have a lot to talk about," but that it's great to be in Canada.
Notable people will be in attendance at Friday’s gala dinner with U.S. President Joe Biden, hosted by Prime Minister Justin Trudeau and his wife at the Canadian Aviation and Space Museum, including former prime ministers and celebrities.
Ontario’s self-described crypto king was allegedly abducted, tortured, and beaten for days as his kidnappers looked to solicit millions in ransom, his father told a court in December.
The United States' first lady was given a sweeping introduction to Canadian sports culture in Ottawa today as Sophie Gregoire Trudeau took Jill Biden to the curling rink.
W5 investigates aging asbestos pipes across Canada and the potential health hazards if it ends up in your tap water. Watch W5's 'Something in the Water' Saturday at 7 p.m. on CTV.
Short-term rental company Airbnb says it will pull listings that don't have a proper permit from the Quebec government. The San Francisco-based company made the announcement eight days after a fatal fire destroyed an Old Montreal building that housed illegal rentals.
An Ontario couple has filed a request with the Office of the Independent Police Review Director (OIPRD) to appoint a new police force to investigate the death of their 17-year-old son Benjamin, who died during a hockey team-bonding event in September 2019.
As Joe Biden makes his first trip to Canada as president of the United States, CTVNews.ca is offering live coverage of the leader's visit. Follow our live blog on CTVNews.ca and the CTV News app for the latest updates.
Short-term rental company Airbnb says it will pull listings that don't have a proper permit from the Quebec government. The San Francisco-based company made the announcement eight days after a fatal fire destroyed an Old Montreal building that housed illegal rentals.
U.S. President Joe Biden arrived on Parliament Hill saying that he and Prime Minister Justin Trudeau "have a lot to talk about," but that it's great to be in Canada.
A Manitoba First Nation is enacting measures to combat an ongoing drug and addiction crisis while also calling on the federal and provincial governments to do more to address drug-related deaths within northern remote Indigenous communities.
Ontario’s self-described crypto king was allegedly abducted, tortured, and beaten for days as his kidnappers looked to solicit millions in ransom, his father told a court in December.
A lawyer for Donald Trump was back in court Friday after being ordered to answer questions before a grand jury investigating the possible mishandling of classified documents at the former president's Florida estate.
The idea of using firing squads is making a comeback in the U.S. Idaho lawmakers passed a bill this week seeking to add the state to the list of those authorizing firing squads, currently Mississippi, Utah, Oklahoma and South Carolina.
Ongoing unrest across France and calls for a new round of demonstrations against President Emmanuel Macron's pension plan persuaded officials to postpone a planned state visit next week by King Charles III.
Rwanda's government has commuted the sentence of Paul Rusesabagina, who inspired the film 'Hotel Rwanda' for saving hundreds of countrymen from genocide but was convicted of terrorism offences years later in a widely criticized trial.
Filipino diplomats confronted Chinese officials in closed-door talks Friday with a slew of protests over China's aggressive behaviour in the South China Sea, including targeting a Philippine coast guard ship with a military-grade laser, but no resolution was reached on the issues, an official said.
British Prime Minister Rishi Sunak held talks with Benjamin Netanyahu in London on Friday as protesters shouting 'Shame!' In Hebrew demonstrated against the Israeli leader's right-wing policies and his plans to overhaul the country's judiciary.
U.S. President Joe Biden arrived on Parliament Hill saying that he and Prime Minister Justin Trudeau "have a lot to talk about," but that it's great to be in Canada.
Notable people will be in attendance at Friday’s gala dinner with U.S. President Joe Biden, hosted by Prime Minister Justin Trudeau and his wife at the Canadian Aviation and Space Museum, including former prime ministers and celebrities.
U.S. President Joe Biden has arrived in Canada, kicking off his short but long-awaited overnight official visit to Canada. The official itinerary has just been released; here's everything you need to know about what will be on the agenda, and what key players are saying about the upcoming visit.
Hershey Co. is looking to reduce 'trace' amounts of lead and cadmium in its chocolate, chief financial officer Steve Voskiul told Reuters on Wednesday, after Consumer Reports found that some dark chocolate bars had potentially harmful levels of the heavy metals.
A growing number of Muslim doctors and psychologists are trying to bridge the gap between faith leaders and worshippers with eating disorders, who say they face marginalization when trying to access support within their own communities, as well as in the public health system.
For the first time, autism is being diagnosed more frequently in Black and Hispanic children than in white kids in the U.S., the Centers for Disease Control and Prevention said Thursday.
Water containing a radioactive material has leaked for a second time from a nuclear plant near Minneapolis and the plant will be shut down, but there is no danger to the public, the plant's owner said Thursday.
W5 investigates aging asbestos pipes across Canada and the potential health hazards if it ends up in your tap water. Watch W5's 'Something in the Water' Saturday at 7 p.m. on CTV.
Seven law enforcement officers have sued rap artist Afroman, accusing him of improperly using footage from a police raid on his Ohio home last year in his music videos.
As you settle into your seat at Broadway's "Bad Cinderella," the subtle sound of piped-in birdsong greets you. Enjoy it while you can. The next few hours will be a frantic onslaught.
Shares in Deutsche Bank fell sharply Friday, dragging down other major European banks and leading German Chancellor Olaf Scholz to express confidence in the country's largest lender after fears about the global financial system sent fresh shudders through the market.
Canada's main stock index was down nearly 100 points in late-morning trading, weighed down by losses in the energy stocks as the price of oil moved lower, while U.S. stock markets also retreated.
Japanese chef Tomoya Kawada has achieved a feat no other restaurateur has before; he's created the world's only three-Michelin-star Chinese restaurant in a non-Chinese-speaking city.
United States President Joe Biden is staying in Ottawa on his short trip north of the border, but the catering team from the National Arts Centre plans to take him on a cross-country culinary tour Friday evening.
People who visit London's Westminster Abbey after the coronation of King Charles III will be allowed to stand on the exact spot where he was crowned, but they will need to make sure they don't have holes in their socks for the shoeless tour, designed to protect the abbey's medieval mosaic floor.
Pride nights, held annually for several years by National Hockey League teams to show support for the LGBTQ2S+ community, are in the spotlight following several high-profile incidents this season.
An Ontario couple has filed a request with the Office of the Independent Police Review Director (OIPRD) to appoint a new police force to investigate the death of their 17-year-old son Benjamin, who died during a hockey team-bonding event in September 2019.
The making of the hugely popular BBC car show 'Top Gear' has been halted following a crash during filming in December that left co-presenter Andrew 'Freddie' Flintoff with serious injuries, the broadcaster said late on Thursday.
California lawmakers on Thursday will vote on whether to allow penalties on oil companies for price gouging at the pump, a first-in-the-country proposal aimed at stopping the kind of spikes last summer that caused some drivers pay up to US$8 per gallon as the industry reaped super-sized profits.
A Cineplex Odeon Cinema in Oshawa, Ont., on Jan. 21, 2022. (THE CANADIAN PRESS / Doug Ives)
