My favorite local theater was $6 for a Sunday morning showing ($11 for regular). It was probably 50 years old and I think everything in it was maybe as recent as the 80s or 90s. The staff were super friendly and seemed to love movies. While only 3-6 for a 10 theater cinema they would bake their own cookies and brownies and dress up in homemade costumes. A mix of teenagers and 50+ people.
They recently “upgraded” and now tickets are $10.50 ($21 for a regular ticket). The upgrade means the theaters now have fake leather power recliners that are actually less comfortable.
I go see fewer movies now. And I can’t help but wonder “what bank loaned them this money, they’re never getting it back.”
I don’t think movie tickets for $20 can compete with concerts ($20-infinity), major league sports ($15-200), plays, and other activities. To take my family to the movies is now $200 after tickets and popcorn and I can go to a major league soccer game for the same amount that includes parking, tickets, hot dogs, and beer. As long as I don’t want to see a specific game.
I used to see 3-5 movies a month, now I see 3-5 per year. I’m happy having a similar experience at home via streaming (worse picture, no community, but much more convenient).
I feel for the theater owners and employees as I’m sure it’s expensive. But it’s expensive to run a blacksmith and it’s expensive to telephone switchboard. It’s not that those things don’t produce value, they do. It’s that their value comes nowhere near their cost when compared to substitutes.