39 theaters nationwide. 4 in Southern California including the one near me in L.A. at the Sherman Oaks Galleria (where Fast Times at Ridgemont High and Valley Girl was a film location plus tons of others). Months ago I posted here that since the pandemic and the popularity and low cost of streaming movies that theater chains would need to change their business model and lower ticket prices and outrageous prices at the concession stand. Add inflation and you can see why. Regal claims theaters can't pay the rent. Of course that goes for a lot of people these days. For me there is no replacing the communal experience of a packed house sharing the big screen experience. Like the famous movie title, "Something's Gotta Give." Sadly it's the economy stupid.
Distribution : Regal Theaters closing down. Parent company files Chapter 11. by Paul Norman Rich
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Yeah, they accounted that end of November/early December. There are a number of chains going down across the world, owned by the same parent company. It's not the economy that's stupid, it's the cinema chains who are too greedy for their own business. Good on them, IMO.
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They closed Tara Theatre here in Atlanta too >> https://saportareport.com/closing-of-tara-theatre-ends-an-era-of-atlanta-cinema/columnists/eleanor/eleanor/
Such a shame, as it was an art house theatre too, played both first runs +indie films, and hosted a lot of film festivals.
One of the oldest distribution business models is how studios place product in various chains. I mentioned the gauging at the concession stands. Popcorn cost pennies and their profits on that alone make them a pretty penny at $6 a 'pop.' So it makes sense for folks to stay home, save bucks on gas and parking, the convenience of your own bathroom and kitchen and big screens at home now mimic the theater experience and sound -- just not the communal experience. Big blockbusters like Avatar will still draw the crowds. As more and more theaters close, I'm hoping rents will drop to draw them back, as well as ticket prices. I do love the advent of the dine-in theaters. The AMC near me have amazing dual reclining chairs.
Thats so sad to see a theater close. I hope it never happens to my favorite Cineplex in Calgary.
Don't hole your breath Debbie. (nothing to do with Covid ha)