CNBC National Article Movie theaters aren’t dying — they’re evolving

Keypoints

• 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.”...

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