Following on from the Federal Government's ban of all "non-essential" gatherings of more than 100 people, and out of concern for patrons and staff amid the coronavirus pandemic, Palace Cinemas has decided to close all sites indefinitely from tomorrow.
Admissions at Australian cinemas have been flat or falling for 15 years, interspersed with a few upticks -- despite hikes in ticket prices, the addition of new screens and an annual net population gain of 300,000.
“If as an industry we think we can rest on our laurels and young people will continue to go to the cinema without offering them a great experience we are sadly mistaken.”
The discounting of cinema tickets among some independent operators, Reading, Hoyts and Event Cinemas is so prevalent that some executives describe the practice as “a cancer” which is threatening at the industry.
On the final leg of its international journey Lion opened in Chinese cinemas last Thursday, generating a decent sum which suggests a leggy run.
Less than six months after Hoyts was bought by Chinese billionaire Sun Xishuang's ID Leisure Ventures, the cinema company is changing hands again.
Dinosaur Island, the Aussie family film that has already caused controversy because of its depiction of feathered dinosaurs, will be exhibited theatrically by Hoyts.
Hoyts Cinemas is upgrading its premium cinemas in Australia and New Zealand to compete with Event Cinemas' and Village Cinemas' Gold Class locations.