Regal Cinemas FAR Report
Regal Entertainment Group and the Current Struggles of the Industry
Let’s Get Customers Back in the Seats
Prepared For: Amy Miles, CEO
Regal Entertainment Group
Prepared By: Austin Pereira, Student
University of Massachusetts, Dartmouth
Submitted On: December 10, 2012
To: Amy Miles, CEO
From: Austin Pereira
Date: December 10, 2012
Subject: Let’s Get Customers Back in the Seats
Dear Ms. Miles
I am submitting this financial analytical report that you requested on October 25, 2012 in regards to the current issues that are causing the recent decline in attendance as well as the current value of the company. In this report you will find detailed information about the trends that are plaguing the company as well as solutions to the current issues.
Currently the company is struggling to provide an enjoyable experience to the customers who are already being driven away by the high prices to attend a movie. Negative customer reviews are detrimental to the businesses success and must be addressed immediately. Along with often times awful customer service, high prices are a major concern for customers. With the current state of the economy customers are less likely to come to a show due to the fact that the prices continue to increase annually. According to the New York Times the average price of a ticket has increased every year for the past 17 years (Cieply, Michael). This is contradictory to the report from the LA Times that stated that the movie theater industry in 2011 drew its smallest attendance rate in the previous 16 years (Kaufman, Amy). Regal Cinemas is the largest chain of movie theaters in the United States and with a few adjustments can become the most desirable of all movie theaters.
If the company implements stricter customer service policies it will eliminate a majority of the issues that are driving customers to go on the Internet and write a negative review after attending a movie at their local Regal Cinemas location. When a
Let’s Get Customers Back in the Seats
Prepared For: Amy Miles, CEO
Regal Entertainment Group
Prepared By: Austin Pereira, Student
University of Massachusetts, Dartmouth
Submitted On: December 10, 2012
To: Amy Miles, CEO
From: Austin Pereira
Date: December 10, 2012
Subject: Let’s Get Customers Back in the Seats
Dear Ms. Miles
I am submitting this financial analytical report that you requested on October 25, 2012 in regards to the current issues that are causing the recent decline in attendance as well as the current value of the company. In this report you will find detailed information about the trends that are plaguing the company as well as solutions to the current issues.
Currently the company is struggling to provide an enjoyable experience to the customers who are already being driven away by the high prices to attend a movie. Negative customer reviews are detrimental to the businesses success and must be addressed immediately. Along with often times awful customer service, high prices are a major concern for customers. With the current state of the economy customers are less likely to come to a show due to the fact that the prices continue to increase annually. According to the New York Times the average price of a ticket has increased every year for the past 17 years (Cieply, Michael). This is contradictory to the report from the LA Times that stated that the movie theater industry in 2011 drew its smallest attendance rate in the previous 16 years (Kaufman, Amy). Regal Cinemas is the largest chain of movie theaters in the United States and with a few adjustments can become the most desirable of all movie theaters.
If the company implements stricter customer service policies it will eliminate a majority of the issues that are driving customers to go on the Internet and write a negative review after attending a movie at their local Regal Cinemas location. When a
Cited: Atkinson, Claire. "Chiller Theater: Movie Attendance Sinks to 1995 Level." New York Post. N.p., 24 July 2012. Web. 05 Dec. 2012. Cieply, Michael. "Charging a Premium for Movies, at a Cost." New York Times. New York Times, 31 July 2011. Web. 2 Dec. 2012. Kaufman, Amy. "Movie Attendance Falls to 16-year Low." Los Angeles Times. Los Angeles Times, 03 Jan. 2012. Web. 07 Nov. 2012. "Poor Customer Service Leads to Loss of Customers." - BI "Regal Cinemas, Garden Grove, California Complaints & Reviews - Mistreatment."Regal Cinemas Complaints, Reviews. N.p., n.d. Web. 04 Dec. 2012. "Regal Cinemas, Oviedo, Florida Complaints & Reviews - Customer Service." Regal Cinemas Complaints, Reviews Regal Entertainment Group. Austin, United States, Austin: Dun and Bradstreet, Inc, 2012. OxResearch; ProQuest Central; ProQuest Entrepreneurship. Web. 15 Nov. 2012. "Regal Entertainment Group History." History of Regal Entertainment Group FundingUniverse. Web. 03 Dec. 2012. Regal Entertainment Group (2003) Regal Entertainment Group (2007). 10-K Annual Report 2007. Retrieved from Regal Entertainment Group Investor Relations. Regal Entertainment Group (2011). 10-K Annual Report 2011. Retrieved from Regal Entertainment Group Investor Relations. Verrier, Richard. "Regal CEO Mike Campbell Steps down as Regal Chief Executive, Remains Chairman." LA Times. LA Times, 6 May 2009. Web. 03 Dec. 2012.