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Top Cinema Chains Will Spend $2.2 Billion Over Three Years To Upgrade Theaters As Box Office Accelerates
Eight exhibitors in the U.S. and Canada will invest more than $2.2 billion over the next three years to upgrade and modernize theaters amid renewed optimism at the box office.
NATO ( National Association of Theatre Owners) says the funds will be used on various upgrades from the latest laser projection technology and immersive sound systems to new seating, enhanced food and beverage offerings, family entertainment options like arcades and bowling, and investing in core site elements like state-of-the-art air conditioning, lighting, signage and carpeting. “This investment of resources is the next step in our industry’s ongoing commitment to ensuring that going to the theatre remains a unique and special experience for generations to come.” NATO’s announcement comes as the organization is set to kick off its annual Fall Summit at the Beverly Hilton next week, a kind of mini CinemaCon just for its members with studio visits and panels.
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