Love Cineplex? It's about to get some serious upgrades
If you’re an avid movie-goer, you could soon see some serious upgrades coming to some Cineplex theatres in Canada.
The National Association of Theatre Owners (NATO), a US-based trade organization representing theatre owners worldwide, announced that the eight largest theatre chains in the US and Canada are planning to invest over US$2.2 billion (C$2.96 billion) to “modernize and upgrade” their theatres over the next three years.
NATO said the eight companies that reported these plans are AMC Entertainment, Regal Cinemas, Cinemark USA Inc., Markus Theatres Corp., B&B Theatres, Harkins Theatres, Santikos Entertainment, and Canadian-based Cineplex.
The trade organization provided some insight into how these chains could use the money to upgrade their theatres.
The improvements may include implementing laser projection technology, upgrading sound systems, adding more comfortable seating, and upgrading food and drink offerings.
Additional improvements to the overall theatre experience are also expected, such as adding more on-site entertainment options like arcade games and investing in better lighting, carpeting, signage, and air conditioning.
NATO President and CEO Michael OāLeary noted that while movie-goers are still enjoying the experience of going to their local theatre, the “competition for consumersā hard-earned dollars is fiercer than ever.”
āGoing to the theatre is an unparalleled entertainment experience, and exhibitors are dedicated to making every visit to their theatres memorable. This investment reflects that commitment in a tangible way that every movie-goer will see and enjoy.ā
What improvements will Cineplex make?
In a statement to Daily Hive, Cineplex did not disclose the amount it’s allocating to upgrades but acknowledged it will be connected to “the collective investment into the exhibition industry and guest experience.”
In its response, Cineplex stated, “Cineplex is [investing] and will continue to invest in premium experiences and recliner seating. ”
“For example, this year, we opened two new IMAX auditoriums in Toronto and Edmonton and have two more planned for BC and New Brunswick. We also have three Screen X locations opening by the end of the year.”
Cineplex said it would have more to share about what’s to come in early 2025.
In its second quarter of 2024 financial results, the Canadian chain reported a net loss of $21.4 million.
In a previous statement, Cineplex CEO Ellis Jacob acknowledged the theatre entertainment industry faced “challenges” due to the impact of the Hollywood strikes in 2023.
However, he noted that Cineplex planned to “accelerate” its growth for the last half of 2024, with the opening of two Rec Room locations in Montreal and Vancouver, a Playdium location in Toronto, and a new theatre in Montreal.
Earlier this week, the company was ordered to pay a nearly $39 million penalty after losing a case over an online booking feeĀ introduced in 2022.