Update: Cutting prices boosts sales, profits

Movie theaters – hard hit by the pandemic – have discovered that discounts will bring customers back

"I never realized how much more I would like this movie when the tickets were half off."

A business hard-hit by the pandemic, changing demographics, and an indifferent product has discovered that cutting prices will bring customers back.

No, unfortunately, we’re not talking about wine.

The latest industry to recognize its problems is the move theater business, whose financial position is so precarious that one analysis says it has lost 8 percent of its customers forever. Which is even worse than wine’s shrinking market share.