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The largest U.S. theater chain, Regal Entertainment, said today it's having a very good 4th quarter this year compared to last year as an industry, seeing double-digit growth in box office revenue and high single-digit growth in attendance so far this quarter. Then again, Regal's CEO Mike Campbell noted on business wires that the movie industry has done well during all the recessions in the past 50 years.
Regal Theater Chain Reports Double-Digit Growth In Box Office Despite Recession
By Nikki Finke | Category: Box Office | Wednesday December 3, 2008 @ 7:36pm PST
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Title Studio Gross 1 Alice In Wonderland Disney $62.7 M 2 Green Zone Universal $14.3 M 3 Shes Out Of My Leag Paramount $9.8 M 4 Shutter Island Paramount $8.1 M 5 Remember Me Summit $8.1 M 6 Our Family Wedding Fox $7.6 M 7 Avatar Fox $6.5 M 8 Brooklyns Finest Overture $4.5 M 9 Cop Out Warner $4.3 M 10 The Crazies Overture $3.7 M 11 Percy Jackson Fox $3.1 M 12 Crazy Heart Fox $3.0 M 13 The Blind Side Warner $1.6 M 14 Valentines Day Warner $1.4 M 15 Ghost Writer Summit $1.2 M 16 Dear John Sony $1.0 M 17 Tooth Fairy Fox $0.7 M 18 Alvin And Chipmunks Fox $0.5 M 19 Last Station SPC $0.4 M 20 The Wolfman Universal $0.4M SOURCE: RENTRAKBox Office Poll
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Surprised at this, I know that speaking for myself, and a ton of people I know, the trips to the theater (particularly for the middling to average films) are way down.
Regel Entertainment was one of the first owners of the Pemberton 4 mall cinema back in the late ’80s. They went under the banner of UA cinemas here in the southeast. When they went bankrupt in 04 they sold Pemberton 4 Cinema to Village Entertainment of Valipariso,Indiana. But Village had a bad reputation. As a company they didn’t take care of thier tenants property and with CBL they didn’t want to pay the rent on the cinema. As of September Village Entertainment is officially out of business according to Cinema Treasures site. Also the old Pemberton 4 cinema has a new tenant Wilcox Theatres. And some wonder how long they’ll stay in the mall. Wilcox is a start up and the CEO used to work for Regel.
I disagree, DH. I know among my friends/family, I can’t say there’s been much of a shift either way.