AMC, Regal and other US chains plan $2.2 billion in theater upgrades

Cinemark Holdings

19/09/2024 16:00

LOS ANGELES, Sept 19 (Reuters) - The largest theater
chains including AMC Entertainment  AMC.N , Regal Cinemas
 CINE.D  and Cinemark  CNK.N  will invest more than $2.2 billion
over the next three years to upgrade theaters in the U.S. and
Canada, an industry group announced on Thursday.
    Improvements will be made by the eight biggest theater
chains in the region, representing over 21,000 screens and 67%
of box office sales, according to the National Association of
Theatre Owners.
    The movie business has faced multiple challenges from the
rise of streaming to the COVID-19 pandemic and the Hollywood
strikes in 2023. 
    NATO said the funds would be used for various projects,
including installing more comfortable seating, adding immersive
sound and laser projection technology and improving air
conditioning, carpeting and food and beverage options.  
    

 (Reporting by Lisa Richwine; Editing by Rashmi Aich)
 ((lisa.richwine@thomsonreuters.com; Follow me on Twitter
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