Your nearby cinema may soon see significant upgrades.

The eight largest movie theater chains from the U.S. and Canada revealed their plans last week to invest over $2.2 billion in improvements over the next three years to enhance the entertainment experience.

This announcement was made in a press release from the National Association of Theatre Owners (NATO) last Thursday. This organization represents theater owners globally, and the chains partaking in this initiative operate over 21,000 screens across 1,600 locations in all 50 states and Canada.

The eight chains reporting to the theater owners association include AMC, Regal Cinemas, Cinemark, Cineplex, Marcus Theatres Corp., B&B Theatres, Harkins Theatres, and Santikos Entertainment.

This investment is a response to challenges faced by the movie theater industry, including competition from streaming platforms such as Netflix and Hulu, as well as shutdowns caused by the COVID-19 pandemic.

How will the funds be spent?

NATO reported that the funds will be allocated to various projects aimed at modernizing and enhancing theaters of all sizes. This includes installing state-of-the-art laser projection technology, immersive sound systems, more comfortable seating, and “family entertainment” options like arcades and bowling.

Additional upgrades may encompass improvements in air conditioning, lighting, signage, and theater carpeting.

“There’s no doubt that movie enthusiasts of all ages cherish going to their local cinema to enjoy films on the big screen. However, the battle for consumers’ spending is tougher than ever,” stated Michael O’Leary, President & CEO of NATO, in the press release.

“Visiting the theater is a one-of-a-kind entertainment experience, and theater operators are committed to making every visit unforgettable. This investment is a tangible demonstration of that dedication, which every moviegoer will appreciate,” O’Leary added.

“This resource investment marks the next phase of our industry’s ongoing commitment to preserve the theater experience as a distinctive and cherished activity for future generations,” commented Bob Bagby, Executive Board Chair of NATO and CEO of B&B Theatres, in the announcement.

Gabe Hauari is a national trending news reporter at YSL News. You can follow him on X @GabeHauari