JAPANESE THEATERS SLASH TICKET PRICES

Toho Cinemas, the largest theater chain in Japan, has come up with a rather revolutionary solution to the problem of declining attendance in movie theaters: charge less money for tickets. Japan already boasts some of the highest ticket prices in the world at its movie theaters, and even a 17-percent drop won’t undermine that reputation. They’ll drop from $21.88 (Y1800) yen to $18.23 (Y1500). In an interview with the British trade publication Screen International. Toho Cinemas CEO Takashi Nakagawa commented, “We aim to offer a simpler pricing system that’s more customer-friendly. In this deflationary economy many feel 1800 yen is too high. By rethinking pricing we aim to attract new patrons.” SI observed that the strategy represents the first price cut at Japanese multiplexes since the first ones were opened in 1993.