These two theaters are both in the type of town that is relatively small compared to most metros, but are somewhat large compared to all the surrounding towns. Two movie theaters, including real estate for sale. There was a line around the block to buy them before COVID, which obviously sank that. But now it seems like there is a good amount returning to the theaters. I am going to be getting more details in the next week under an NDA, and have my accountant go over the books. Supposedly net cashflow is in the 400-600k range. Price is 4mill, a large part of which will just be taking over an existing loan.
Opinions, does anyone think going into this industry in this day and age is just too risky given to combination of coming out of the Covid era plus fact that we are now in the era of streaming?
Attendance at theaters has been down as portion of America since 1920s.
I love the movies and am seriously worried for their future. The experience in a theater is so much better than at home. There no way to debate in that. Streaming/rental are easier that’s the issue.
Streaming is on its way to becoming more expensive than cable ever was. If you want all the big streamers that is. So it might be that Disney movies so ppl can’t see for instance.
Also everything I read/see is commercials will slowly be coming to all streaming more and more. It’s a much easier model to make money from.
Question can you use those things to compete?
Could it be repurposed? Live shows?
Myself and friends have a monthly movie pass through AMC. $25/month. Why not do the same at your location. Could even just offer in slow times.
Best of luck!! I’m rooting for you if it makes sense!