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$10.25 for a movie!
Manhattan multiplexes cross threshold just in time for the holiday season.
December 31, 2003: 10:27 AM EST

NEW YORK (CNN) - With holiday blockbuster movies in the theaters, some movie ticket prices in Manhattan have crossed the $10 mark for the first time.

Prices at some theaters edged up this week to $10.25 a ticket, breaking the $10 level which has been in place for less than two years.

Officials with Loews Cineplex confirmed they have increased ticket prices for most of their Manhattan theaters but said the increase is justified.

Regal Entertainment Group, owners of United Artists Theaters, confirmed movie ticket prices at its Regal Union Square Stadium 14 theater (formerly United Artists Union Square) in NYC went up to $10.25 for adults and $6.75 for children beginning on Dec. 19.

A spokesman for the company told CNNfn, "Admission prices reflect the cost of doing business in a particular location. We have incurred some significant cost increases including utilities, taxes, real estate taxes. We don't anticipate that a 25-cent price increase will alter people's movie-going habits in comparison to other entertainment options."

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John McCauley, a Loews Cineplex spokesman, told CNNfn, "Loews Cineplex is dedicated to providing the best movie-going experience to our patrons with state-of-the art technology in world-class theaters. Given the richness of entertainment we offer, we feel that our tickets are priced at a fair value for everyone to enjoy the show."

"For our New York city market, we have increased ticket prices by only 2.5 percent," McCauley added. "This is our first ticket price increase in two and a half years, during which time the costs associated with other forms of entertainment have increased dramatically, and inflation has grown by approximately 4 percent."  Top of page




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