Admission price hits record high in second quarter of 2018

Admission price hits record high in second quarter of 2018

Admission price in the US climbed to a record high of $9.38 in the second quarter of 2018. This same figure is ahead from the $9.16 recorded in the first quarter with a 5% uptick over the same time span in 2017 ($8.95), according to the National Association of Theatre Owners (NATO). The cost of going to the movies has remained relatively static when accounting for inflation, noting that the average ticket price of $2.23 in 1977 was roughly $9.26 when adjusting for inflation.

That places the average admission price for the first half of 2018 at $9.27, up 4% over the same period in 2017 ($8.90), according to NATO. The average ticket price for all of 2017 was $8.97. Admissions were also up by more than 17%. Ticket buyers between the ages of 18 and 44 accounted for more than 65% of all second-quarter revenue.

These price fluctuations reflect the growing strength of the US economy, as well as the demand for IMAX and premium theater formats. These days, a movie with popcorn just isn't enough to make a trip to the theater. Many movie goers are looking for more than they can find at a standard exhibition room, whether it's a full-service bar, seat-side wait service or a nice dinner they can enjoy on ultra-plush seats.

The 2018 box office continues to pace well ahead of 2017; in the second quarter, North American box-office revenue was up by a whopping 23% year over year, according to NATO. The boom was led by Avengers: Infinity War, Incredibles 2, Deadpool 2 and Jurassic World: Fallen Kingdom.