As movie theaters are increasingly having to compete with streaming services that consumers use on a regular basis, companies like the Regal Entertainment Group are testing various strategies to motivate consumers to come to the movies.
Most recently, the Regal Entertainment Group decided to adapt to consumers' shifting movie viewing habits by testing out demand-based pricing for the movies its theaters show. With the help of the app maker Atom Tickets LLC, the company will test lower and higher pricing for each individual movie being shown, with popular movies being higher in cost than those less so.
The company will test this new strategy at the beginning of next year, and will do so in a way that is statistically significant – with economic benefits revealing whether this should be a strategy it chooses to permanently institute in its business model.
Demand-Based Theater Pricing
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