Movie theaters hope for strong finish to 2022 as sales tick up

Thursday, November 24, 2022
CARY, N.C.. (WTVD) -- Movie theaters are relying on major releases to boost sales in the final month of 2022, as they work to rebound from a steep pandemic drop.

"Especially heading into the holidays whether it's your family outing, birthday parties, your corporate group coming out, it's definitely been more steady than it's been in the past and we're looking forward to a great end of the year," said Ashley Dreps, Director of Sales and Marketing at Paragon Theatres Parkside in Cary.
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The movie theater opened in December 2021, with Dreps reporting they have seen an increase in pre-show and day-of ticket sales during the past several months.

"We used to be big moviegoers before the pandemic. It's like now being able to just come back, buy a ticket in theaters compared to having to buy a ticket online weeks ahead, it feels good just being able to walk in," added Damion Davis, who came out to see "Black Panther: Wakanda Forever" on Thursday afternoon.

According to Box Office Mojo, total gross sales are nearing $6.6 billion in 2022, up nearly 50% from 2021, though still about $5 billion short of 2019 sales. The pandemic forced the closure of theaters and shut down movie sets while causing production companies to be more cautious about their investments. Box Office Mojo reports there have been 442 releases in 2022, compared to 993 in 2019; on a per-movie basis, the average gross is at its highest mark since 2010.

Tickets at Paragon Theater Parkside start at $6, below the 2019 average of $9.16 reported by the National Association of Theater Owners.



"We are definitely trying to get people in here, have a good time, see the movie," said Dreps.

The amount is also a recognition of price sensitivity, which has drawn greater attention in the midst of high inflation.
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Paragon Theater Parkside has upgraded its offerings, installing zero-gravity chairs, adding larger and new screens, and enabling ordering directly to your seat. While the natural focus is on the movies, the business has also shifted its focus from simply the theater.

"There's more than one option to come when you come here. It's not just a movie theatre. You can also bowl," said Liam Simpson, who ABC11 found playing virtual golf with his family.

There's a full restaurant and bar connected to the theater, an effort to cater to different audiences and entice customers to stay longer.

"Compared to before, you might go here, then go to a separate restaurant or go to another bar. So it makes it more convenient, having everything in the same spot," said Davis.



It's also an attempt to counter streaming services, which have captured a growing market share and acquired and produced their own releases.

"I definitely think this is going to be the trend moving forward. I don't ever see myself going to a regular theater. Drive-ins are still cool, but this is definitely where it's at," Dreps said.
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