What’s the Ticket to a Successful Movie Theater?
For Americans of every income and background, movies provide an affordable source of entertainment and a welcome relief from everyday reality. That’s why in spite of steadily increasing ticket prices, movies continue to rack up a $15 billion industry. And according to IBISWorld, positive trends in consumer spending and a revival in movie attendance will benefit the industry over the next five years.
But the movie theater experience is changing, and those in the business must keep up with shifting customer expectations and emerging trends in order to remain successful. Here are the top considerations for growing a movie theater business of your own:
Make It an Experience
The biggest competition for movies comes in the form of on-demand movies and high-definition TVs. Movie theater owners are tasked with the tough balance of replicating the comforts of home while highlighting the wow factor of the big-screen. Here are three rewards for customers who value getting a bang for their movie theater buck:
- 3D movies
3D movies catapulted to popularity after the release of Avatar in 2009 and since then, the number of 3D theaters has increased markedly. While this trend has since slowed down, many audiences still enjoy the option, particularly for animated movies, thrillers, and action and adventure films.
- Seating Upgrades
The likes of D-box motion seats that create perfectly synchronized motions with onscreen content are no longer restricted to Universal Studios. Movie theaters are increasingly adopting this trend.
- High Sound Quality
No matter how great their home theater configuration, chances are it can’t match the advanced dynamics of a movie theater system with Dolby Digital surround sound or THX amplifier technology.
Offer Alternative Content
Alternative content in the form of foreign films, live broadcasts, documentaries, and other programming is growing by 5 percent, according to LA Biz. Movie theater owners may expand their reach by offering such content alongside their typical blockbusters.
Anything Research recently conducted a 2015 Market Research Report on Movie Theaters Industry, recommending that theater owners consider selling products/services offered by competing channels like theme parks, country clubs, casinos, and bowling alleys. Another trend is to expand your theater’s dining options, whether it’s with an in-seat menu or a greater number of on-site restaurants.
Upgrade Your Point of Sale
A venue-specific Point of Sale (POS) will cater to your specific needs and puts the business side of your movie theater venture in your hands. Revel Systems’ Movie POS, for instance, can print tickets directly from the POS, distinguish POS stations between ticket sales or concession stands, and track the number of tickets sold per movie over the course of its entire run. The Revel Movie POS also adheres to Sony Pictures’ regulations for compliance.
While the option for online ordering has created an uptick in movie nights at home, nothing can replace the age-old experience of going out for a movie. And no matter how much the movie-going experience changes, some things, like a buttery bucket of popcorn, an affordable ticket price, and friendly service, should remain standard.