3D ticket prices likely to rise by 26 percent in the USMarch 25th, 2010 - 9:15 pm ICT by IANS
London, March 25 (IANS) Cinemas and distributors are capitalising on 3D’s popularity as the ticket prices are likely in for a major hike ahead of the release of “How to Train Your Dragon”, says a report.
The popularity of 3D cinema looks increasingly likely to come at a cost to the consumer as a survey published by a Wall Street media analyst this week forecasts price hikes of as much as 26 percent ahead of the release of “How to Train Your Dragon”, which opens in 3D around the US on Friday, reports guardian.co.uk.
Richard Greenfield of Btig, an international trading company, surveyed 10 cinemas in the US, finding a recent 8.3 percent hike for 3D locations and an increase of 9.9 percent for 3D Imax screens.
Adult 3D tickets look likely to increase to an average $14.73 from $13.60, with the cost for 3D Imax screens rising to $16.63 from $15.13.
The increase works out as an average of about $3 in most cases, rising to $5 in some cinemas in Los Angeles and New York.
Imax prices remain higher still.
The price hike looks set to benefit both studios distributing the films and exhibitors screening them. Studios receive 45 percent to 55 percent of total box office, with variations according to the length of time the film has been playing.
“If consumers absorb the price increases without issue, we believe it bodes well for the pricing power of the movie exhibition industry,” said the report.
“It appears that each theatre circuit has its own strategy related to price increases this weekend. Certain chains are raising prices across the board, some are focusing on the 3D ticket premium and others are focusing only on raising adult ticket prices.”
Currently quoted prices in the Britain are around $24 for an adult Imax 3D ticket, and $18 for a regular Imax screening.
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