Poll: The credits are rolling on Charlotte theaters. Do you still go to the movies?
It’s been a tough season for theaters this fall.
How tough?
The Regal Cinebarre Arboretum at 8008 Arboretum Blvd., in Charlotte, will close to the public on Thursday, falling victim to its parent company’s bankruptcy proceedings, The Charlotte Observer reported.
The theater’s parent company, Cineworld, filed for Chapter 11 protection in September. Over the past two years, two other Regal theaters — one in Ballantyne and another in Myers Park — also shut down permanently.
And last year, the Studio Movie Grill, a dine-in movie theater located at the now defunct Epicentre in Uptown, failed to reopen last year after filing for bankruptcy.
Charlotte-area theaters are not alone, either.
AMC Entertainment reported a 12th consecutive quarterly loss on Tuesday despite higher amounts of revenue compared to this time last year, CNBC reported.
Experts say a blockbuster dry spell and lingering pandemic losses are to blame.
“A lack of those big-ticket films is a big part of the reason why the numbers at AMC were not particularly spectacular,” said Martin Baccardax, a senior editor and correspondent for The Street.
“They did okay on revenues for the third quarter which was a little bit surprising, at least from my perspective… but they are dependent on the big blockbusters, particularly around the holiday season, and those simply aren’t materializing,” Baccardax explained.
Although it’s been several years since the height of the COVID-19 pandemic, it seems the future of the traditional movie experience in Charlotte is still unclear.
We want to hear from you. Are you still going to the movies?
This story was originally published November 11, 2022 at 7:00 AM.
