- Industry
Setting the Sails and Other Ways to Beat the Cinema Slump
Columbus, Cleveland, Cincinnati, all in Ohio, Austin, Texas, and Pittsburgh, Pennsylvania have listed dates in September of this year, but with only 12-24 boats available per location: the showings won’t be as grand as in the European version, and it remains to be seen if a theater chain can recover financially from selling just a handful of tickets. “We may as well just stick with social distancing in our already existing theaters, sell only 25% of the seats and hope for the best”, says the owner of a local chain who asked to remain anonymous. In recent years, cinemas have already faced stiff competition from the rise of streaming, faced corporate acquisitions and now Covid-19, and many were briefly rumored to be bought, as AMC has been rumored to be on the point of being bought by Amazon – although in this particular case it turned out to be just that, a rumor. There are, however, rumblings about theater chains actively pursuing buyers. And as David Craig from the USC Annenberg School notes: “People still want to be social. They don’t go to the movies just for content, they can watch that on here [their smart phones]”, he says. That feeling is a global one.