Warehouse Cinemas featured on CNBC news about industry
Mar 1, 2023
CNBC National Article Movie theaters aren’t dying — they’re evolving
- The movie theater industry is consolidating in the wake of the pandemic. Since 2019, the number of total screens in the U.S. have decreased by around 3,000.
- Surviving theaters have been forced to innovate, even as Hollywood production returns to normal and studios have more content to offer.
- As the space contracts, cinema operators are improving technology and seating, while also bolstering their food and beverage offerings.
Quote: “We’ve invest in Dolby Atmos, we’ve invested in new screens, we’ve invested in laser projection,” said Rich Daughtridge, president and CEO of Warehouse Cinemas. “To me, that’s baseline. I feel like you have to create the best sound and picture experience you can create to get people motivated to spend money to come out to the cinema.”...
Read full Article here