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THE ENTERTAINMENT MARKET
THE ENTERTAINMENT MARKET
Most OC locations have been losing (a lot of) money for a decade, Westpark was kept open to appease the Irvine Company
It's a combination of factors, but the major ones:
Rent costs (and rent theatres owe from their shutdowns)
Expensive recliner remodels/new builds outdating stadium seating ala how stadium seating sent Regal, UA and Edwards all into bankruptcy.
Lack of fully marketed films, which studios have gotten away with blaming on COVID production shutdowns, but for those who are showing streaming films, no one, to date, has really stepped up to market those films (which is why exhibitors have let Universal streamroll them into still letting Halloween Ends go to Peacock, because at least they will spend on the marketing)
CIneworld, basically, stopped in-theatre/grassroots theatre level marketing when they took over in favor of making studios pay for lobby space/advertising, which is what Regal actually did better than the other big two chains (it was kind of already heading that way pre-Cineworld in the Amy Miles days, but Cineworld nailed the coffin shut)
Otherwise Cineworld has just had incredibly bad timing in general.
My local Regal Theater (Anaheim Hills, CA) is one of the ones shutting down, next Thursday is the last day. Sep 17, 13:52
They were all supposed to have closed Thursday. {nm} Sep 17, 14:57
It's very possible it's already closed; I'll check it out today when i go to the gym. {nm} Sep 17, 15:02
Most OC locations have been losing (a lot of) money for a decade, Westpark was kept open to appease the Irvine Company Sep 17, 14:53
Very sorry my friend. That does hurt losing your local theater. I hear ya {nm} Sep 17, 16:28