I'm afraid I have to be a bit of a naysayer too. Although, ClassicMovie's approach may have some merits and show some success, here's hoping! When we re-opened our theatre after renovating, we had so many requests to do 'classic' movies. We started a classic movie club (was the best way for us to work it.) People paid a one time membership and could view all 10 movies in the series. We did one film a week, with 2 different showings. We had enough people join the club that it was worthwhile to do, but when it came down to actual attendance, it was fairly dismal. We didn't really risk much though, as we still ran our regular features and such, and the memberships covered our cost, as planned. Some of the classics that the original poster mentioned have done well for us as midnight films. I think being part of a college town is crucial to that kind of success, and even still, we've had many mediocre midnights.
We are celebrating our 75th anniversary this year, and so we've planned several events through out the year to involve the community. We're doing a film from each decade we've been open, along with an event. For example, for the '90's we ran the film Chocolat (which at the time was running everynight on A&E) and did a chocolate and wine tasting to go along with it. We have a local chocolate shop that hand makes chocolates, and a local vintner that provided wine. We charged $10 per ticket (quite reasonable I thought) and the results were surprisingly good. We had over 250 people show up for the evening, and we netted close to $1500 for the night. Now, Chocolat is no great flick, though it's not bad. I think the reason it was successful, was not the movie, but the fact that it was an 'event.'
Anyways, I've rambled on here long enough.
Rance