Movie theaters officially dead

[mdmost 42,167]

Yes, dumb dumb. It's a Marvel movie. 

[CooterBrown 17,695]

Looks like Sept - Dec is going to be ridiculous. 

Alamo needs to bring back the Season Pass ASAP.

[atomheartbevo 88,751]

11 hours ago, mdmost said:

Yes, dumb dumb. It's a Marvel movie. 

I'm not going to see it in a theater unless Julia Louis-Dreyfus gets nekkid in it.

[Neonmoon 38,126]

Def want to see Dune and Bond #78 in Theatre 

Black Widow is a possibility 

[elfenix 34,001]

when does gigli 2 come out?

[Michael Knight 12,663]

Black Widow has earned over $125 million USD from streaming, Disney has confirmed. The Marvel superhero film was a Disney+ Premier Access title, meaning that it was made available in theatres and on Disney+ for a $34.99 CAD fee simultaneously when it was released in July. Altogether, Black Widow has grossed more than $367 million USD — in other words, about one-quarter of its total earnings has come from digital.
 

That Black Widow has performed well on Disney+ despite the film being significantly pirated upon release could mean that other studios will look towards hybrid theatrical-digital releases. This comes alongside increasing concerns from Hollywood regarding rising cases of the delta variant of COVID-19.

https://mobilesyrup.com/2021/08/23/black-widow-125-million-streaming-disney-plus/

[DougO 5,223]

Marvel is the Nummetal of movie franchises. That's why it's dying, like rock radio.

[Deej 76,081]

7 minutes ago, DougO said:

Marvel is the Nummetal of movie franchises. That's why it's dying, like rock radio.

As long as they sell tickets in China, they don't give a fuck.

[bluto 4,800]

125/367 = “about a quarter”?

[DonkeyCigars 144]

9 minutes ago, bluto said:

125/367 = “about a quarter”?

Had that same thought.

[ztejas 42,744]

14 minutes ago, bluto said:

125/367 = “about a quarter”?

 

4 minutes ago, DonkeyCigars said:

Had that same thought.

Canadian author. Cut 'em some slack. They just got math up there in the 1960s. 

[Guest Lobo]

If movie theaters were half smart, they’d open up little comic book stores inside the lobby and send the sales information to Hollywood.  I don’t know what the fuck else is gonna save them. 

[T’Boo Ted Marshall 2,718]

Sigh. Alamo in Richardson is still closed.

[PilotsError 2,234]

 

[mdmost 42,167]

Alamo Drafthouses in DFW and Minnesota are closing due to Change 7 bankruptcy by the ownership of those locations, effective today

All 5 Alamo Drafthouse Cinema locations in Dallas-Fort Worth close

By Teresa Gubbins

Jun 6, 2024 | 9:45 am

RIP Alamo in DFW Alamo Drafthouse

It's a sad sad day for Dallas moviegoers: All five Dallas-area locations of the Alamo Drafthouse Cinema chain have closed.

According to a release, Two is One, One is None, LLC has closed the six franchised Alamo Drafthouse Cinemas that it (and its affiliates) operated, and have filed voluntary petitions for relief under Chapter 7 of the U.S. Bankruptcy Code.

The five Alamo Drafthouse Cinemas in North Texas closing include Richardson, Las Colinas, Lake Highlands, Dallas, and Denton. They are also closing a location in Woodbury, Minnesota.

Two is One, One is None and its affiliates attributed the decision to seek bankruptcy protection and close the Cinemas to various factors:

Industry-wide guest counts have not rebounded even to pre-COVID levels and coupled with the 100-plus days of the Writers’ and Actors’ strikes, industry-wide economic performance was severely down in the fourth quarter of 2023 and in the first quarter of 2024. In fact, the first quarter of 2024 has been the worst performing quarter in movie-going history.

As a franchisee, we paid franchise fees not required of other competitors; payment of these fees to our franchisor in a prolonged environment of significantly decreased revenues were not sustainable. Franchise Fees alone were nearly 10.0% of our sales ($3.7 million) in 2023.

Due to contractual obligations, we were forced to keep even the most unprofitable locations open to the detriment of our overall businesses.

To offset operating losses and try to survive, our owners infused more than $3.5 million dollars in new capital, into payroll and operations in 2023 and year-to-date 2024, while we attempted to reduce costs, including repeatedly seeking relief from our franchisor to reduce the non-competitive fee structure and to permit closure of the most non-profitable locations, neither of which were obtained.

The company said it was "deeply saddened" to find it necessary to take this step, and expressed gratitude to its employees "who put in the work, day in and day out to produce a special movie-going experience," as well as to their many loyal customers for whom it was a pleasure to provide such a special experience.

The Alamo provided a unique movie-going experience with restaurant in-theater servers and themed parties, menu items, and merchandise corresponding with movies, as well as offering holiday and other special movies.

An attempt was made to contact all 600-plus employees prior to this press release and the closing of all theaters. We wish all employees well and much future success in their new endeavors. References will gladly be provided.

Edited June 6 by mdmost

[Skipper 5,954]

5 minutes ago, mdmost said:

Alamo Drafthouses in DFW and Minnesota are closing due to Change 7 bankruptcy by the ownership of those locations, effective today

Damn.  That sucks.  We certainly didn't go that often but when we did go to a movie we went to the Lake Highlands location.   Kids will be disappointed.    That shopping center made a huge turn pre-Covid but is now falling apart.

[Red Five 40,110]

Never again!

[mdmost 42,167]

Yeah, I hate it here. That was our go to location and we bought the season pass. Now, I'm not sure how much we'll go to the movies since it's more of a beating to go to places like Northpark to see a movie. Studio Movie Grill kinda sucks. 

[CooterBrown 17,695]

Since corporate didn’t work with them at all, it makes me wonder if they’ll reopen 1-2 of them. It’s cheaper to get a turnkey theater that way than actually buying out your franchisee.

[Herpa Derpa 6,084]

48 minutes ago, Skipper said:

We certainly didn't go that often

You had one job.

[Travo 15]

Devastating news. I had the Season Pass and had three locations either close to my apartment or office. Brutal! 

[sasquatch69 576]

Corporate is already saying they are working to get them reopened under new ownership.  We'll see.  Richardson and LH *just* renovated with new seats, etc, within the past three months.

[mdmost 42,167]

Yeah but who is going to want to take them on as a franchisee? If the locations they opened in the suburbs that are probably a massive drain are a required part of the deal, why would sign up for that in a time when theaters appear to be in an sadly, unending downward trend?

I hope they reopen, even if it's just a couple of the locations. The staff got royally screwed because they have to apply as creditors to get the pay they are owed. 

Edited June 6 by mdmost

[TrashMaster G 17,263]

1 hour ago, CooterBrown said:

Since corporate didn’t work with them at all, it makes me wonder if they’ll reopen 1-2 of them. It’s cheaper to get a turnkey theater that way than actually buying out your franchisee.

This was my thought.  Maybe open them as corporate-owned and operated and bypass the franchisee model on those locations?

[mdmost 42,167]

Alamo Corporate had to sell to a private equity firm back in 2021 when the entire company underwent Chapter 11 bankruptcy protection. 

https://www.mediaplaynews.com/alamo-drafthouse-cinema-emerges-from-bankruptcy-completes-sale-to-private-equity-group/

[YGIFS 19,444]

I still love Alamo Drafthouse, only place we go to see movies.  Admittedly, we don't go that often anymore.  But I would love to be a fly on the wall when Simon goes in to pitch to LP's/ii's on a building a brand new, ground-up indoor shopping mall complete with a massive cineplex movie theater and massive parking garage.  And I thought Madoff investors were fucking idiots.  

[mdmost 42,167]

The locations here in Dallas and the one Richardson definitely got city dollars poured into them, both directly and probably through tax abatements for development. Richardson paid a portion of the recent renovations to the location there. The one in Lake Highlands took over a completely dead strip center that used to house a long defunct Tom Thumb. The one right by downtown was part of a plan to renovate the area. It's right by Gilley's and the Southside Ballroom. Also a few blocks away from Dallas PD headquarters. A prime location. 

[Skipper 5,954]

2 hours ago, CooterBrown said:

Since corporate didn’t work with them at all, it makes me wonder if they’ll reopen 1-2 of them. It’s cheaper to get a turnkey theater that way than actually buying out your franchisee.

Would be interesting to see the financials.  To your point, if only a couple of the locations are profitable, it could have been a strategy for corporate to pick those locations up on the cheap rather than work with existing ownership and allow closure of certain locations.

[mdleast 8,016]

Would be interesting to see the financials.  To your point, if only a couple of the locations are profitable, it could have been a strategy for corporate to pick those locations up on the cheap rather than work with existing ownership and allow closure of certain locations.

I agree. Especially after seeing this.


“Following the closures, there are 35 Alamo locations nationwide — 15 of those are franchise locations, and 20 are corporate owned theaters. “


https://t.co/urnDmw1zYV

[cactusflinthead 26,791]

The Denton one was our go to. 

THIS SUCKS 

https://www.dmagazine.com/arts-entertainment/2024/06/alamo-drafthouse-abruptly-closes-its-dallas-fort-worth-theaters/

The release says its owners “infused more than $3.5 million” in new capital to keep the locations open, but couldn’t convince its franchisor to close any of the “most non-profitable locations.”

 

[UpperWestside 5,990]

2 hours ago, mdmost said:

Alamo Corporate had to sell to a private equity firm back in 2021 when the entire company underwent Chapter 11 bankruptcy protection. 

https://www.mediaplaynews.com/alamo-drafthouse-cinema-emerges-from-bankruptcy-completes-sale-to-private-equity-group/

Once PE shows up the end game is to close you down by-by-bit. 

[C-Man 26,536]

7 hours ago, mdmost said:

Yeah, I hate it here. That was our go to location and we bought the season pass. Now, I'm not sure how much we'll go to the movies since it's more of a beating to go to places like Northpark to see a movie. Studio Movie Grill kinda sucks. 

Kinda? More like "all the way" sucks.

[DDD Dad 14,060]

8 hours ago, mdmost said:

Alamo Drafthouses in DFW and Minnesota are closing due to Change 7 bankruptcy by the ownership of those locations, effective today

All 5 Alamo Drafthouse Cinema locations in Dallas-Fort Worth close

By Teresa Gubbins

Jun 6, 2024 | 9:45 am

RIP Alamo in DFW Alamo Drafthouse

It's a sad sad day for Dallas moviegoers: All five Dallas-area locations of the Alamo Drafthouse Cinema chain have closed.

According to a release, Two is One, One is None, LLC has closed the six franchised Alamo Drafthouse Cinemas that it (and its affiliates) operated, and have filed voluntary petitions for relief under Chapter 7 of the U.S. Bankruptcy Code.

The five Alamo Drafthouse Cinemas in North Texas closing include Richardson, Las Colinas, Lake Highlands, Dallas, and Denton. They are also closing a location in Woodbury, Minnesota.

Two is One, One is None and its affiliates attributed the decision to seek bankruptcy protection and close the Cinemas to various factors:

Industry-wide guest counts have not rebounded even to pre-COVID levels and coupled with the 100-plus days of the Writers’ and Actors’ strikes, industry-wide economic performance was severely down in the fourth quarter of 2023 and in the first quarter of 2024. In fact, the first quarter of 2024 has been the worst performing quarter in movie-going history.

As a franchisee, we paid franchise fees not required of other competitors; payment of these fees to our franchisor in a prolonged environment of significantly decreased revenues were not sustainable. Franchise Fees alone were nearly 10.0% of our sales ($3.7 million) in 2023.

Due to contractual obligations, we were forced to keep even the most unprofitable locations open to the detriment of our overall businesses.

To offset operating losses and try to survive, our owners infused more than $3.5 million dollars in new capital, into payroll and operations in 2023 and year-to-date 2024, while we attempted to reduce costs, including repeatedly seeking relief from our franchisor to reduce the non-competitive fee structure and to permit closure of the most non-profitable locations, neither of which were obtained.

The company said it was "deeply saddened" to find it necessary to take this step, and expressed gratitude to its employees "who put in the work, day in and day out to produce a special movie-going experience," as well as to their many loyal customers for whom it was a pleasure to provide such a special experience.

The Alamo provided a unique movie-going experience with restaurant in-theater servers and themed parties, menu items, and merchandise corresponding with movies, as well as offering holiday and other special movies.

An attempt was made to contact all 600-plus employees prior to this press release and the closing of all theaters. We wish all employees well and much future success in their new endeavors. References will gladly be provided.

Nooooooooooooooooooo

[DDD Dad 14,060]

5 hours ago, sasquatch69 said:

Corporate is already saying they are working to get them reopened under new ownership.  We'll see.  Richardson and LH *just* renovated with new seats, etc, within the past three months.

I think the one in the Cedars did too.  I got an email or something about the new seats recently.

I've been to the Cedars and Lake Highlands locations probably a half dozen times since New Years.  This is really disappointing.  I didn't even realize they were franchises.

[mdmost 42,167]

So weirdly, there was an announced Alamo Drafthouse that was coming to Grand Prairie at 360 and 20 back in 2020. It hasn't broken ground yet but Culture Map reached out to the franchisee to check on it and they said this. Maybe they can buy some of the other locations?

UPDATE - 6-6-24: In the wake of the five Dallas-Fort Worth Alamo Drafthouse locations closing, an Alamo Drafthouse corporate spokesperson released the following statement: "Our franchisee in Grand Prairie, Alamo Grand Prairie Bardin, LLC, is not affiliated with Two is One, One is None, LLC. The Alamo Drafthouse Grand Prairie is set to announce a groundbreak sometime in 2024."

[MAUFRAIS 6,539]

Is two is one, one is none, some super cool blaxploitation movie reference I don’t understand?

[Herpa Derpa 6,084]

5 hours ago, MAUFRAIS said:

Is two is one, one is none, some super cool blaxploitation movie reference I don’t understand?

Navy SEAL phrase, also used by preppers. Means you need a backup plan. The irony bites.

[PilotsError 2,234]

2 hours ago, Herpa Derpa said:

Navy SEAL phrase, also used by preppers. Means you need a backup plan. The irony bites.

we understand what the phrase means, just curious why a movie company named it that.

[mdleast 8,016]

24 minutes ago, PilotsError said:

we understand what the phrase means, just curious why a movie company named it that.

I recall that the franchisee owner was previously a member of the Army Special Forces

[RPM 26,074]

Covid really fucked theaters. Alamo took it harder than most because they relied on F&B more than most. Their limited seating meant limited sales. They needed all of those seats filled to turn a profit with the high employee overhead needed to run the F&B. They were fighting an uphill battle then the writer's strike hit.

[Frank Drebin 5,359]

We went to the Ipic near our home in Houston a couple months ago to see Iron Claw.  First time in a theater since Top Gun sequel.

It was run down inside.  The chair I sat in had duct tape covering a hole.  Theater was not clean.  Pretty obvious it must be struggling.

['stache 21,490]

Damn, we like going to the one in Richardson when visiting my folks. My wife likes movies but I hate theaters, except Alamo, so we always made it a point to go when in the area. Fucking sucks. 

[YGIFS 19,444]

I have nothing but anecdotal intel on this, but how are movie theaters doing in exurb/rural Texas I wonder?  

[fuggled 576]

 

[Hermanator 6,562]

I never liked Alamo much but that's mainly because I don't like eating real food at a theater. Trying to navigate the salsa for a quesadilla or the cheese on a pizza slice while trying to watch the screen just doesn't do it for me. 

I actually love the Cinemark near my house. Comfortable seats, picture and sound are great, nice and cool air temps, and with the app and $11 a month sub I get a free ticket, no fees for online ordering, and 30 percent off all concessions. Plus Tuesdays is $5.50 movie day so makes a nice early week treat for my girls and the wife for less than what it would cost to take them to dinner. 

If you haven't tried Cinemark since before the pandemic give it a shot. 

[Deej 76,081]

1 hour ago, Hermanator said:

I never liked Alamo much but that's mainly because I don't like eating real food at a theater

I dont like the person next to me eating. Keep the noise down, you pig. 

[Armybrat 40,465]

Kinda surprised drive in theaters haven’t really made a comeback. 
Seems like teens would  enjoy the relative “privacy” with their favorite squeezes.

 

[YGIFS 19,444]

3 minutes ago, Armybrat said:

Kinda surprised drive in theaters haven’t really made a comeback. 
Seems like teens would  enjoy the relative “privacy” with their favorite squeezes.

 

Do you even 'Netflix & Chill', bro?  

[Deej 76,081]

36 minutes ago, Armybrat said:

Kinda surprised drive in theaters haven’t really made a comeback. 
Seems like teens would  enjoy the relative “privacy” with their favorite squeezes.

 

Brat at a drive-in during his youth.

 

[Armybrat 40,465]

43 minutes ago, YGIFS said:

Do you even 'Netflix & Chill', bro?  

No.