Regal Entertainment Group is currently floating an idea to institute demand-based pricing at their multiplexes, according to a report from Bloomberg.
Though movie tickets are generally one price across the board (excepting higher prices for 3D, IMAX, etc.), this model would have audiences paying higher prices for big-ticket, hit movies and lower prices for flops/smaller films. The pricing is designed to encourage increased audience size at lower selling films by offering cheaper rates.
Regal is reportedly set to begin testing the model in early 2018 with ticket app Atom Tickets LLC in enough markets to generate a sizable statistical pool to determine whether or not the pricing model helps boost revenue and audience size during non-peak times (particularly at less popular films).
“Changes to the historical pricing structure have often been discussed but rarely tested in our industry, and we’re excited to learn even more about how pricing changes impact customer behavior,” Amy Miles, chief executive officer of Regal Entertainment, said Tuesday on a call with analysts, according to Bloomberg.
Read the original report from Bloomberg here.
This is just the latest effort from movie houses to try to increase audience size and offer a unique moviegoing experience. Regal has also tried a $50 mega ticket full of extras, while other theaters like Alamo Drafthouse have offered special events like women-only Wonder Woman screenings and one Seattle based theater even encouraged theater-goers to use their cellphones while at the movies.