Movie Theatre Chains Announce $2.2 Billion Overhaul to Revamp Cinemas Across North America
In a bid to lure moviegoers back to theatres amid growing competition from streaming services and luxury cinemas, the largest movie theatre chains in the United States and Canada have unveiled a $2.2 billion renovation plan.
The National Association of Theatre Owners (NATO), representing major chains like AMC Entertainment, Regal Cinemas, and Cinemark, announced the three-year investment plan, which will upgrade 21,000 screens across North America – covering nearly 70% of the region’s box office. The revamp will focus on improving every aspect of the theatre experience, from seating and concessions to signage and sound systems.
NATO’s ambitious plan comes at a time when the theatre industry is recovering from the impact of the COVID-19 pandemic and Hollywood strikes, both of which severely limited film releases and attendance. It also aims to compete with high-end theatres like IPIC Theaters and Alamo Drafthouse, which offer luxury viewing experiences and have grown in popularity.
According to NATO, the renovations will modernize cinemas of all sizes, including the installation of advanced projection and sound technologies, improved seating, upgraded concessions, and new features like arcades and bowling alleys. Other upgrades will include enhanced air conditioning, refreshed carpeting, and updated signage.
Though specific investment amounts for individual chains were not disclosed, the project will be funded by profits and new capital. Regal Cinemas has already committed $250 million to remodel its 400 locations after its parent company emerged from bankruptcy earlier this year.
Paul Dergarabedian, a senior analyst at Comscore, called the investment a testament to the resilience of the movie theatre industry. “While theatres face challenges, the big screen experience remains essential and continues to thrive despite decades of competition and changes in the entertainment landscape,” he said.
