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Cineplex Inc
Symbol CGX
Shares Issued 63,684,281
Close 2024-09-24 C$ 10.78
Market Cap C$ 686,516,549
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Globe/CP say Cineplex fined $38.9M for drip pricing

2024-09-25 08:25 ET - In the News

The Globe and Mail reports in its Wednesday, Sept. 25, edition that Cineplex has been fined $38.9-million for drip pricing, where customers are not fully informed of the final cost. A Canadian Press dispatch to The Globe reports that experts warn that other companies adding fees on-line should be cautious as regulators may take action. The Competition Bureau's case against Cineplex related to a $1.50 charge for on-line movie tickets. Cineplex is appealing the ruling, but other companies' pricing practices could also be scrutinized. McMaster University's master of public policy program Vass Bednar says: "There's all these ways that consumers are exploited. It's kind of like a death by 1,000 cuts on-line. We see an airline price or a train price or a bus ticket or a concert ticket advertised as being a certain amount that lures us in and then all these other fees are added on and it's just kind of really deflating." Consumers have long complained about watching their final purchase price increase due to added fees during checkout. In the last decade, this issue has garnered more attention from regulators. The bureau's efforts have been aided by amendments that were made to the Competition Act in June, 2022.

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