RAVE theater chain is no longer a bit player
An article in the L.A. Times describes the ascension of the growing Rave theater chain. Their recent acquisition of several National Amusements theaters brought them up in the rankings of theater operators.
For Stephenson, the deal catapults him from a second-tier operator into the big leagues of national theater chains. Rave is now the No. 5 circuit in the country, operating 65 theaters and about 1,000 screens in 20 states, more than doubling its size.
At a time when movie theaters are no longer considered a high-growth business, Stephenson is making a contrarian bet — at least in the midterm — that people will continue to trek to theaters for a movie rather than nesting at home and watching it on their big-screen, high-definition TVs.