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Topic: Theatre companies possibly overbuilding again?

John Carpenter
Film Handler

Posts: 96
From: Fort Walton Beach, FL, USA
Registered: Nov 2002

posted 10-25-2003 10:00 AM

I do not know without a doubt.. but according to Rave Cinemas (listed as opening in Huntsville), they do not ever open a theatre in an area that will have to share product... So I guess you will have to wait and see.

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John T. Hendrickson, Jr
Jedi Master Film Handler

Posts: 889
From: Freehold, NJ, USA
Registered: Apr 2001

posted 10-26-2003 08:05 PM

Charles Everett wrote:

The way the economy is right now I don't see any big chain -- not AMC, not Loews, not even Regal -- going on a building spree.

No Charles, not a "spree", but trust that they will continue to overexpand at every opportunity. They have to open new locations to show investors that they are "growing". And yes, they will build on others in an attempt to insure that growth. All the while, many of their current locations are grossing fewer dollars. In economic paralance, it's called "same store sales". If that figure is dropping, it's a red flag.

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Martin Brooks
Jedi Master Film Handler

Posts: 900
From: Forest Hills, NY, USA
Registered: May 2002

posted 10-27-2003 11:49 AM

I agree with Charles on this one, at least for the NYC area. There were a number of new theaters that were planned several years ago that have been cancelled. The most prominent is the Regal that was supposed to be part of the new Random House building at 1745 Broadway at 55th St.

And the only renovation that I know of is the conversion of the Waverly to the IFC.

For the first time in recent memory, there is not a current new theater build in the planning stages anywhere in the five boroughs of NYC (that I know of), even though as compared with many other regions, NYC is still underscreened: NYC has about 15,000 residents per screen, as compared with about 7800 per screen in Philadelphia and 6000 per screen in Boston. Considering that NYC is considered much more of a "movie town" than either Philadelphia or Boston, this stat is surprising.

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