Who needs popcorn when you have beer?
More and more movie theaters have been adding beer, wine, and, in some amazing cases, a full bar to their concession stands. As The Hollywood Reporter points out, this has led to revenues for the theaters going way up:
“It is the fastest-growing amenity in our industry,” says George Patterson, senior vp food and beverage at AMC. “Dollar for dollar, alcohol doesn’t cannibalize candy, soda or popcorn. If I put a bar in, I can almost guarantee my food and beverage revenue will go up. Over 70 percent of our guests are over the age of 21.”
When Patterson joined AMC six years ago, only six locations offered spirits. By the end of 2016, 178 had lounges and bars. Of those, 150 were stand-alone bars not paired with a dine-in component. Exhibitors don’t release revenue numbers from alcohol sales, but AMC — the nation’s largest chain and market leader in this arena — estimates the average customer spends $4.81 on concessions. That figure rises by 30 cents in locations with a bar. The markup means huge profit margins: At the AMC Santa Monica 7, a glass of Clos du Bois chardonnay runs $14, compared with $11.99 for a bottle at BevMo.
Ahh yes, the inflated prices. That’s a bummer, as it is with sporting events, concerts, festivals, and basically everything else nowadays – but, yeah, seeing a good movie is just a little better with a good IPA – and, perhaps more importantly, seeing a really bad movie is better after three IPAs.