What Causes High Ticket Prices at the Movies
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Instruction: Discussion Response #2 Prompt:
You're out for a nice walk in your neighborhood one evening when you come upon your neighbor. You engage in a bit of small talk and kindly ask how his weekend went. He goes on to talk about how he took his family of four to see the latest Marvel movie in theaters. He quickly bemoans the exorbitant price he had to pay for tickets saying that it cost him almost $80 for his family of four to acquire seats to the movie. He attributes these high ticket prices to overpaid Hollywood actors whose multi-million dollar salaries cause ticket prices to price at the theaters. His solution for the high ticket prices is for movie actors to be paid less and these savings can be passed onto consumers.
Is your neighbor right about what causes high ticket prices at the movies? Yes or no. Explain.
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High Cost of Movie Tickets
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High Cost of Movie Tickets
Movie tickets are expensive as prices charged have gradually increased due to inflation and the rising cost of living. As the National Association of Theatre Owners (NATO) explained, ticket prices increased since 2001. The varying charges across most cinema halls and theatres affirm the upward surge. It is, therefore, imperative to understand the possible causes of high-ticket rates. As my friend stated, the prices for movie tickets have become exorbitant.
Many factors dictate the prices of movie tickets. These factors include staff wages, rent payments for theater premises, and the need to divide ticket revenues between theater owners and studios. Since theatres never produce movies, they rely on partnerships with producers and studios (Traneva & Tranev, 2022). These producers pass their production costs by charging huge revenues. The ticket prices vary based on location, but the increase has been observed uniformly. My friend is right regarding the high prices of movies.
Most movies shown in theatres are acted by...