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Personally it's going to be a shame to see the smaller independent theaters like the Rialto close
I wonder if they actually have an advantage over the big theaters. They are mostly privately held, and I doubt they are carrying huge debts on their books.
I wonder if they actually have an advantage over the big theaters. They are mostly privately held, and I doubt they are carrying huge debts on their books.
I think Rialto will be fine. It's weathered many storms since 1983 (before that it was the Colony Theatre dating to 1942) and has a huge local cult-esque following that would likely fundraise to keep it open.
I think Rialto will be fine. It's weathered many storms since 1983 (before that it was the Colony Theatre dating to 1942) and has a huge local cult-esque following that would likely fundraise to keep it open.
That's exactly what happened at the Chelsea Theater in Chapel Hill. To facilitate that fundraising, it became a 501(c)3.
Personally I think this is a dead industry unless they make some drastic changes to add value to it. I was tempted to buy AMC stock when it tanked in March. I considered it in the same bucket as other "consumer discretionary" services, but after doing a lot of research, I came to decision that it will all die a slow death. Even before Pandemic they were losing money due to streaming services. We are slowly creating new habits. One of those habits is to purchase new releases and watch them in our own homes. I understand it will not beat the "magic" of going to movie theater, but I do not think you'll be able to reverse that habit easily. As I said they'll have to add some new value to it -- maybe all go "small, boutique" movie theater where you get some additional experiences, something like Alamo theaters, maybe.
EDIT: Just read about Alamo bankruptcies a couple of posts above mine. So I guess that's not a solution either.
Big screen HD tv's and streaming were the death knell for theatres long before Covid19,
Higher and higher prices for tickets and concessions also contributed to their demise.
We historically never see a seismic shift in culture until years after it happened; this is what's going on. This will end the movie theater industry as we've known it, but it's barely 100 years old, so not like an old standard form of entertainment. Just like radio survived satellite and streaming apps, the movie industry will innovate and come out on the other side of the pandemic with something newer and more relevant to the times.
Maybe we'll see a resurgence of independent theaters, something with a smaller footprint potentially leveraging all that commercial real estate likely to be left unoccupied post-COVID-19.
I wish someone would open a drive-in in Raleigh. We would visit a couple times a month most likely. It has the social distancing built in, still get the whole "getting out of the house" adventure the theater brings, and is just a good time. We love the one in Henderson, just hate getting back to Garner at 2am.
....
Bummer as was considering to visit the local Regal when Dune comes out.
Welp, just saw that Dune has been delayed until this time next year.
I don't see how this industry can survive, and can imagine a future where there are just a few boutique-y theatres left to provide the olden days experience.
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