Movies 14 for sale
posted by Michael Zoldessy on August 29, 2011 at 7:45 am
WILKES-BARRE, PA — Even though it’s been very successful for the community, the Movies 14 space of University Corners is up for sale for $8.5 Million. The five year-old complex is on the market because its owner recently filed for bankruptcy.
Read the full story in the Citizen’s Voice.
Just how do you define a successful theatre?
Lets do a little math here.
500,000 people per year divided by 14 screens is 35,715 people per screen per year.
35,715 people per screen divided by 52 weeks is 687 people per week per screen.
Assuming 28 shows per screen per week (4 shows times 7 days per week) that would mean that each show averages about 24 to 25 people. (687 people divided by 28 shows).
Hardly enough to pay the guy in the booth. Why would anyone open a movie complex? The indusrtry shot itself in the foot when they started opening megaplexes within miles of each other.
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