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The Batman is the latest live-action iteration of the caped crusader from filmmaker Matt Reeves and stars Robert Pattinson and Zoe Kravitz, and it has created quite a buzz. So much so that AMC Theaters has begun experimenting with higher ticket pricing for some of the year's biggest movies, beginning with the Dark Knight's latest adventure.
In this article, we explain the reasoning behind it, possible pitfalls of the move, and more.
Why are ticket prices of The Batman being raised in AMC theaters?
The theater chain's CEO Adam Aron stated during a Tuesday earnings call that AMC's tickets for the next superhero film be priced higher than for other movies playing at the same theaters.
He didn't provide any details, neither was he pressed to do so. However, a simple online search of the AMC Empire 25 in Times Square revealed that tickets for The Batman, priced at $18.99, were a dollar higher than those for Uncharted and Dog.
Responding to a question by Entertainment Weekly about the new pricing, Aron said:
"This is all quite novel in the United States, but actually, AMC has been doing it for years in our European theaters. Indeed, in Europe, we charge a premium for the best seats in the house, as do just about all other sellers of tickets in other industries — think sports events, concerts and live theater, for example."
He completed his statement by adding:
"AMC has been a bold thinker in the area of pricing. One who is willing to take risk, and one who is willing to lead, and one who sees considerable upside opportunity for us ahead if we continue to be imaginative."
How can this decision backfire for the AMC theaters?
Variable pricing is not a new concept, particularly in European theaters, but it is one that their U.S. counterparts have long resisted, with the exception of matinees and a few other exclusions.
However, with movie theaters still failing to expand and retain attendance in the aftermath of the COVID-19 pandemic, AMC's effort to implement demand-based pricing looks to be an extremely risky attempt.
Robert Pattinson's movie is expected to fetch over $100 million in ticket sales in the U.S. and Canada between Thursday and Sunday this weekend.
AMC has yet to clarify how much the upcharge for popular films will be, or what other upcoming releases, other than The Batman, will be subject to variable pricing.
The Batman will hit theaters on March 4, 2022.
