Banner
Welcome, Guest
Username: Password: Remember me
  • Page:
  • 1

TOPIC: Cinema Redux

Cinema Redux 29 Jul 2010 10:21 #34403

  • ReelET
  • ReelET's Avatar
  • OFFLINE
  • Fresh Boarder
  • Posts: 15
  • Karma: 0
This link is to a Film Journal article from March 2010. Sounds like an interesting concept. I was just wondering if anyone has any knowledge or experience with Cinema Redux. The contact info on their website is in Kansas City, MO.

www.filmjournal.com/filmjournal/content_display/news-and-features/features/technology/e3if3d775aa9c43698e2efd1b49fd9e347e

cinemaredux.net
The administrator has disabled public write access.

Re:Cinema Redux 29 Jul 2010 12:07 #34404

  • lionheart
  • lionheart's Avatar
  • OFFLINE
  • Gold Boarder
  • Posts: 312
  • Thank you received: 5
  • Karma: 3
It does sound like a good concept for those interested in new builds. I know nothing of the company doing it.

I would just like to point out that in the article they are proposing 6 to 8 screens with 18,000 to 24,000 square feet at about $100 per sq. ft. That would be 1.8 to 2.4 million dollars. And they are proposing to do this in small underserved communities. If we agree with past posts on these forums, you need 30,000 people or more to support a 6 screen theater. I personally don't know a lot of communities with that many people that don't already have a fair sized theater. Some people might think their little slice of suburbia is underserved, but the next burb over already has a nice multiplex or megaplex, so they are not really underserved, just left without the bragging rights for having one in their hometown. Being the hometown theater might work for some, but in the end you still have to compete with the big boys in that scenario.

I don't find the $100 per sq. ft. figure that impressive. I've long used it as a general ballpark estimator as have many people. Maybe my use of the number is outdated... I don't know. But, if you are going to claim to be a bargain, I would want to see something lower.

I personally think spending 2 million dollars in a small underserved community is highly risky.

On the other hand, I personally bought an old existing single screen, then twinned and completely renovated it. It looks good. Now it's for sale, and my asking price is roughly $68 per sq. ft. at $275,000. Seems to me that existing structures are the way to go. It might be hard if you are committed to a specific area to find a suitable existing structure, but it might be worth a move to a new location to save the difference.

My theater is in a small underserved community. Seems like a twin is a better fit for my idea of a "small underserved community". Who thinks you should build a 6 screen or more in a place that fits that description?
The administrator has disabled public write access.

Re:Cinema Redux 29 Jul 2010 15:35 #34406

  • rufusjack
  • rufusjack's Avatar
  • OFFLINE
  • Platinum Boarder
  • Posts: 1462
  • Thank you received: 33
  • Karma: -6
BB Theaters operate many like this:
www.bigscreenbiz.com/Forums/The-Lobby/33...Durant-Ok.html#33751

In western MO/Kansas, we have the following that seem to do well:
6 screens - 13,289 population
6 - 21,000
8 - 36,380
8 - 19,649
8 - 20,380
8 - 20,490

These theaters are the only ones in their towns. Plus they seem to be 20 mins away from another theater. All of these I believe have at least one 3d screen if not two. I agree that there may not be many towns this size without any theater, but their maybe some with old run-down theaters.

$100 is a pretty good rate in most larger population areas.
The administrator has disabled public write access.

Re:Cinema Redux 30 Jul 2010 07:10 #34409

  • lionheart
  • lionheart's Avatar
  • OFFLINE
  • Gold Boarder
  • Posts: 312
  • Thank you received: 5
  • Karma: 3
Ok. So if the definition of "small underserved community" includes towns with "old run-down theaters" then there may be many places to look. If you are willing to go build over a mom and pop operation, then you might find a location. I considered this as I read the article as well.

Now, if a location actually would support a new 6 screen but only has an old rundown single or twin, why is it rundown? Lack of business? Why? Owners won't put money into it? Why? In this case, you could probably buy out the mom and pop for less money than a new build. Then remodel, renovate, and/or expand.

I would not be interested in just building over a small town theater. In a larger market, it's different. I would rather look for that little piece of the urban landscape or of suburbia that would support a theater and settle for my slice of the pie than to go in and try to take the whole pie from someone else who has many friends in a small town. If you have to take less than a whole pie in a small town, there may not be enough left to go around.

Of course, others will have different opinions... we know it has been done before. That's just my 2 cents worth.
The administrator has disabled public write access.

Re:Cinema Redux 06 Oct 2010 01:16 #34687

Small underserved markets don’t necessarily mean mom and pop single screens or twins. There are many smaller markets which are currently being served by 4-8 screen theaters that are operated by big chains (AMC, Cinemark, etc.). These theaters are virtually ignored by their operators as they are not in large markets and face no competition in the smaller markets in which they reside. These theaters are a shadow of what you think of when you hear “AMC” or “Cinemark”… Slope floors, old seats, no digital sound or projection (with no plans on getting any), plain exteriors, major repairs not made, etc.

I personally ran a theater like that for Regal… and it was not in a smaller market, but a very large one. Regal ignored it simply because it was part of an acquisition of a smaller chain and was not in a market that Regal was very interested in. This theater was a 10-plex with only two decent auditoriums. These two auditoriums were re-done with a nice floor, newer wall and floor carpet, digital surround sound and stadium style high back seats installed on a slope floor. The other auditoriums were virtually ignored. Four screens were added on in the 80’s to make it a 10-plex, but nothing had been done to them since then… 20 years later. They still had the original old low back plastic seats, stereo surround sound and faded carpet. The remaining four screens were even worse off, not even being upgraded during the construction in the 80’s… Seats that were so old that cleaning them would ruin them (not to mention the total lack of any padding left in them), old burlap curtains that were not just torn, but disintegrating (looked like the walls were laced with old potato sacks), and mono sound. And as for the bathrooms and floors… I won’t even go there. I frequently felt embarrassed at charging Regal’s high first run prices when the customers were getting such a sub-sub-run cinema experience, but I did the best I could to turn it around without any renovation work with superior customer service. My work in doing so did not go un-noticed. Another small chain saw the increase in business and took advantage of Regal’s lack of caring about this theater. After a massive renovation, this theater is now one of its new owner’s best money makers. This example is not meant to support the previous post about it being better to renovate existing buildings, even though obviously it can work, but to show that the big chains do leave opportunities open. If they are willing to ignore a theater that was in a very large market, you know that they are ignoring the ones they have in smaller markets.

Getting back to the point, the big chains are leaving multiple opportunities available for independents to move in to smaller underserved markets and be successful. The fact is most of these small theaters ran by big chains are being leased and are so unimportant to their corporate offices that they would just be shut down if an independent built a theater in the same town. This is where Cinema Redux’s concept would work. Move into a smaller market of 10k-30k which is currently being underserved by an old antiquated 4-8 screen theater, build a nicer new theater (nothing fancy, but nice) and take the market over causing the current cinema to close. I personally know of an old AMC 6-plex in a market of 30k+ in Illinois which is in terrible shape, yet still raised all their prices to the same AMC standards as those in a 100k market would have. Cinemark has dozens of old 4-6 screen theaters in smaller Texas towns of 12k-30k which have not had any work done on them since the late 80’s or early 90’s. These theaters are all ripe for independents to move in and compete. I’ve always told myself that if I had the chance to build a theater in a smaller market that I would not do it if it meant causing another independent to have to shut their doors, but I have no problem what-so-ever causing the closure of an ignored theater ran by a big chain. They are simply not important enough to the big chains to do anything with them, except shut them down if challenged… Leaving a decent sized market completely dominated by the new independent theater. So yes, the concept that Cinema Redux has put forth can work, and work well. It is just based on how you look at it. That is why I am currently working with Cinema Redux on a venture that I am attempting to get off the ground, and so far they have been very helpful.
The administrator has disabled public write access.

Re:Cinema Redux 06 Oct 2010 12:48 #34688

  • rufusjack
  • rufusjack's Avatar
  • OFFLINE
  • Platinum Boarder
  • Posts: 1462
  • Thank you received: 33
  • Karma: -6
Good luck!

Cinema Redux folks have been pretty nice to me as well.

Keep us updated.
The administrator has disabled public write access.
  • Page:
  • 1
Time to create page: 0.204 seconds
attraction attraction
attraction
attraction
attraction
attraction