When it comes to planning family activities, it’s important to find things to do together that will create memorable experiences and get you out of the house. But, planning for the entire family can be a challenge when it comes to managing a budget. With prices for things like attending a sporting event or a live concert continuing to increase year over year, it’s no surprise that more families are staying in for a game night or turning to free activities like going to the library.
However, Gallup’s recent Americans’ Reports of Leisure and Activities shows that there is one out-of-home activity that Americans are still paying for more than any other, and that’s going to the movies. That’s right – in the age of streaming services people still choose to leave the house to experience the magic of the cinema together. And, it’s not just the experience that is driving people to their local theaters – it’s the value that families get when choosing to see a movie over other popular out-of-home activities.
Let’s take a look:
Average Movies cost based on Fandango ticket prices for two adults and two kids plus the average cost of on large popcorn + two drinks combo and two kids combos from AMC Theatres in Chicago, IL. Average Theme Park cost based on the cost of 4 general admission tickets to Great America in Gurnee, IL plus $25 per person spend on food/beverage. Average Sporting Event based on average ticket prices with food and beverage included for a St. Louis Cardinals game. Average Live Concert cost based on average cost to see an artist live in concert in 2019 from Statista plus $25 per person spend on food/beverage.
As you can see, the average American family of four can experience a night out at the movies with concessions for more value than any other type of traditional out-of-home activity. (In fact, the average cost to attend a theme park, sporting event, or a live concert is typically even more than what’s shown here when you factor in things like parking and souvenirs.) Thanks to the incredible value, this means that families can have multiple movie nights out in a given year and still not spend as much as they would on one of these other events!
What does all of this mean for theatre owners? First, it means that your local customers still want to experience the magic of the cinema. Then, it means that it’s time to take inventory of your current theatre experience and consider elevating it with luxury reclining seats. Not only will today’s moviegoers pay more for enhanced comfort (especially parents), but reclining seats also allow you to upgrade your concession offerings while increasing your ticket price. This all adds up to a better experience for your patrons and maximized profits for you.
Not sure where to start? Contact us today for a free consultation that includes our profit model calculator, and we can show you how a customized installation plan can deliver more value to your customers and grow your bottom line.