Last year, the number of people going to movie theaters in the United States hit a 16 year low. With state-of-the-art home theater systems, Red Box kiosks, Netflix and movies you can download to your phone is it any wonder movie theaters are finding it hard to compete?
Last month, Overland Park based movie theater chain Dickinson Theaters declared bankruptcy. They own half a dozen area theaters including the West Glen, the Palazzo and the Blue Springs 8, which they plan to close. And with Kansas City based AMC recently selling to China, we thought it would be interesting to find out what on earth is going on in the movie theater business from someone who’s thoughts are prized on the subject.
David Brain is President and CEO of Entertainment Properties Trust in Kansas City which has invested over $1.4 billion in more than 110 megaplex theaters around the country, housing over 2,000 movie screens.