A couple of years ago Odeon turned our nearest theatre into a 'luxe' theatre (adult tickets £20), and the next nearest theatre was left as it was, but all tickets £5 each (tickets at both theatres where about £14 previously). I think it was an experiment to see which model was most economic: major investment in tech and comfort/£100+ for a family of four to watch a film with snacks and beverages/fewer tickets sold as a result OR minimal capex/far more affordable to attend/loads more tickets sold. The £5 tickets for all showings have stopped, but you can still get them a lot of the time (they have surge pricing for blockbuster releases,and some upgraded premium seating now). I think they've found a way to be affordable to the masses and fill seats, but still extract max revenue from better off families, by having half their theatres follow one model and half follow the other.

For all tickets is similarly insane. It needs to be demand driven - sold out show? Prices too low. Can’t get butts in seats? prices too high.

You want prices set such that it’s almost but not quite at capacity. This gives you slack to accept stragglers while optimizing your profit on the price demand curve.