In my opinion, cinema is not dying. I think that it is fair to say that the cinema, as a place where films are shown for public consumption, has taken a significant hit in recent years. However, the end of 2022 has renewed my faith in cinemas. As well as this, I believe cinema as an art form is evolving, facing an expansion that, if handled correctly, will usher in an age of cinema to rival all that came before it.
Cineworld is 'the largest cinema exhibitor chain in the UK and Ireland based on box office. In 2019, the revenue of the company amounted to nearly 312 million British pounds. Second came Odeon, with a box office of about 297 million British pounds'.
The “great era” of going to the cinema is dying, Sir Sam Mendes has said, adding that he thinks his most famous films would go to streaming services if made now.
Around 45% of the UK’s independent cinemas will be operating at a loss by the end of the 2023/24 financial year according to a survey by the Independent Cinema Office (ICO).
The survey - which received 157 responses from independent cinemas, small chains, and mixed arts venues – found 61% of venues were not meeting their income targets.
Meanwhile, 42% estimated they could only continue operating for anywhere between three months to a year in the current climate.
Three-quarters of respondents (76%) projected a loss in admissions this financial year when compared to ‘normal’ pre-pandemic years while 11% projected a growth.
Half of the cinemas said they needed further public and governmental financial support in order to remain operational with organisational grants and sales VAT reduction listed as the top two most useful interventions.
The price of a regular popcorn at Cineworld is £4.95, with a regular soft drink costing £3.75. The price of a regular popcorn at Odeon is £4.90, with a regular soft drink costing £3.25. This means a regular popcorn with a regular soft drink would cost £8.70 at Cineworld, and £8.15 at Odeon.
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