The question is: would you pay $35.00 a ticket for one movie?
Even if each complex will have theaters with digital projection to screen 2-D and 3-D movies, 40 reclining armchair seats, the ones with footrest, just like home? Except these seats have a service button to call a waiter. Why? Because patrons will be able to have made-to-order meals like sushi and other theater foods from on-site chefs. Oh Reeaaalllyy!! Of course, they'll have to pay extra for that.
Would you pay $35.00 + even if they have lounges and bars serving cocktails and appetizers, concierge service and valet parking?
These people seem to think so. Village Roadshow Ltd., Act III, Lambert Entertainment and the Retirement Systems of Alabama pension fund will spend $200 million to build 50 theaters nationwide over the next five years to bring us mere mortals the luxury cinema circuit Village Roadshow Gold Class Cinemas. Are you ready to give in yet? I might if I don't have to wear pearls and a little black dress!
The first two venues are set to open in South Barrington, Chicago, and the Seattle suburb of Redmond in October.
Key Themes Behind This Trend
- Luxury Cinema Experience
- As more consumers seek unique and premium experiences, there is an opportunity for cinemas to offer an all-inclusive, luxury experience with personalized services such as on-site chefs and concierge service.
- In-theater Dining
- Offering made-to-order meals and other foods in theaters can provide a disruptive innovation opportunity for the food industry to expand its reach by tapping into captive audiences in cinemas.
- Upscale Movie Theater
- The trend towards luxury cinema experiences opens up investment opportunities for entertainment investors to participate in the expansion of more high-end movie theater chains.
Where This Applies
- Cinema and Movie Theater Industry
- The luxury cinema trend creates opportunities for theaters to offer personalized hospitality services to provide consumers with premium experiences.
- Food Industry
- The trend towards in-theater dining presents new opportunities for food companies to partner with movie theaters and cater to consumers’ entertainment needs.
- Entertainment Industry
- The rise of upscale movie theaters creates growth opportunities for investors to fund developments in the entertainment industry and disrupt traditional movie theater offerings.
