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I was wondering what the market is like for 2nd run indie films and what the rental terms are usually like. Would opening a small second-run art theater make sense in a market that has lots of indie theaters, but no 2nd-run theaters (art or otherwise)?

Thanks.

He's looking to make a small fortune,
out of a large one!

Snide comments aside:

Subrun or 2nd run is a declining market share. Shorter release windows before coming out on video are killing the 2nd run market. people now seem to be locked in to this 2-week sindrome, where if they don't see in the first 2-weeks, they can wait for video.

Specialty films like art or indie are worth about 10% of any market. So if you can live on 10% of 10% go right ahead.

Art, especially if they are under represented in the market, can be a profitable venture. One can also try to find a market that is being ignored like gay, latino, black, lesbian (it's separate from gay), Chinese, Indian and the like.

Sometimes if you are really good, you can poach somebody elses market. Like if there is only a really crappy art cinema, do it better and perhaps you can become better than they are.

I was afraid of that answer. Who would be most knowledgable about the state of my market and if I would even be able to get 1st run art films in a huge market that does have good (*cough*The Sunshine) and entrenched (The Angelica) art cinemas? A distributor, a film booker, maybe the projectionists union?