As streaming services threaten to send the theater industry the way of Blockbuster, a group of theater chains has pledged a serious amount of money with plans to expand their activity selection to include amenities such as pickleball and zip lines to drum up business.
On Thursday, the National Association of Theatre Owners (NATO) announced a $2.2 billion pledge to upgrade the theatrical experience. NATO consists of hundreds of theater chains in all 50 states and across over 100 countries. While the funds will go toward upgrading sound systems, seating, tech and concessions, there are also plans for additional features and facilities, such as arcades, bowling alleys, ropes courses, pickleball courts and more.
NATO president and CEO Michael O’Leary said in a statement, “This investment reflects that commitment in a tangible way that every moviegoer will see and enjoy.”
The statement declared theaters as “Cornerstones in their local communities, providing first jobs, hosting first dates, offering affordable and accessible entertainment, and attracting consumers to retail and entertainment centers.”
The eight largest chains in the association pledged more than $2 billion to be implemented for developments on over 21,000 screens over the next three years. This will account for roughly two-thirds of the entire U.S. box office. The theater chains that reported their investment goals are AMC Entertainment Inc., Regal Cinemas, B&B Theatres, Harkins Theatres, Cinemark USA, Inc., Cineplex, Marcus Theatres Corp. and Santikos Entertainment.
“You’re going to create an environment which is more inviting, which people are going to not just want to go to, but they’re going to want to come back to,” O’Leary said. “I do think there’s a direct correlation between the theater, the experience people have there, how they feel about it, and not just going, but wanting to come. So I do think that this investment will yield more people going to movies in the future.”
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