Movie Theaters Invested $2.7 Billion in Refurbishments Over Past 2 Years, Cinema United Report Says

The movie theater trade organization Cinema United has released its annual report on exhibition's efforts to update thousands of cinemas, reporting that the North American theater industry's spending on refurbishments has reached $2.7 billion over the past two years. The top 8 theater chains have spent $1.8 billion of that capital expenditure in North America, and $1.2 billion has come over the past 12 months with $840 million of that from the top 8 chains. These refurbishments have ranged from new sound systems - which on average cost $58,000 per auditorium - to new entertainment . . .