A recent survey of all cinemas - from small chains to multiplexes - conducted by the Independent Cinema Office found almost half of independent cinemas are operating at a loss.
Full story
The financial health of the independent theatrical film exhibition sector (Independent Cinema Office)
In 2023, the film industry remains in a state of flux following the Covid-19 pandemic and its attendant reverberations. Cinemas have had to cope with changes to operating models, shifts in audience behaviour and the rise of online streaming, with all these factors liable to future fluctuations. There are also obvious economic challenges, with reduced availability of public funding, a cost-of-living crisis, and a rise in energy prices, all of which have impacted the sector and seen the recent closures of key independent cinemas. We wanted to check in with UK theatrical exhibitors to assess the current financial health of the sector.
In September 2023 we undertook a survey of the theatrical exhibition sector to try and gather evidence on its current position. We received 157 responses from independent cinemas, small chains, multiplexes and mixed arts venues. The largest proportion were from notfor-profit independent cinemas (46%). Most venues were located in England but there were responses from all four nations in the UK. 93% of respondents were in a leadership position.
Independent cinemas serve as vital community hubs for a diverse range of audiences, including those who are elderly or socially isolated and often are a key cultural asset in areas where there is otherwise low cultural provision. Their operations have a wider positive economic impact on the cities, towns and rural areas where they are located. Most independent cinemas are significantly invested in being a cultural space, reaching new audiences, showing a broader selection of films, focusing on environmental sustainability, and improving accessibility... Keep reading on Independent Cinema Office.