11:53:46 EDT Mon 13 May 2024
Enter Symbol
or Name
USA
CA



Cineplex Inc
Symbol CGX
Shares Issued 63,684,281
Close 2024-03-19 C$ 7.48
Market Cap C$ 476,358,422
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Globe says Cineplex now before the Competition Tribunal

2024-03-20 07:43 ET - In the News

The Globe and Mail reports in its Wednesday, March 20, edition that Cineplex is now before the Competition Tribunal for its sneaky $1.50 fee. The Globe's guest columnist Corey Mintz writes that in a case before the Competition Tribunal, a lawyer for the Competition Commissioner describes Cineplex's method as "drip pricing," a marketing technique in which "a price is unattainable, because consumers must pay additional charges or fees to buy a product or service." Mr. Mintz says the way Cineplex is slipping in the fee does seem underhanded. He says it is a shame, given that the service Cineplex is charging for is genuinely valuable and arguably worth paying for. In 2022 Cineplex quietly started adding a $1.50 fee for on-line ticket sales. Since then, these fees have generated almost $40-million of revenue for Cineplex. Competition Commissioner Matthew Boswell argues that these fees are a form of deceptive marketing, because consumers do not see the full price advertised and instead see a ticking clock that pressures them to complete the purchase. The bureau is asking the tribunal to order an end to both practices, in addition to applying a fine. Cineplex dismisses the claims as without merit.

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