Boston Real Estate thought? Will Movie Theaters ever come back? I’m not sure here’s why…
I just read a New York Times article about the future of movie theaters.
The release of Christopher Nolan’s “Tenet” was expected to be a return to some semblance of pre-coronavirus normalcy for movie theaters, but the industry might have a longer road ahead than some thought.
Around 68 percent of movie theaters across the U.S. were open for the film’s debut over Labor Day weekend, but it made just $9.8 million over that weekend, according to the New York Times.
Widespread theater closures
Shares in AMC, which opened many of its theaters nationwide in August, climbed the day “Tenet” hit theaters, but have since fallen about 17 percent. Cinemark has also seen an 18 percent decline since Sept. 4, while Regal Cinemas’ parent company has experienced a 14 percent decline.
As a streaming platform becoming more popular a megaplex movie theater is just a room with a really nice screen and a comfy chair.
And you already have one of those at home.