Have Virtual Cinemas Fallen Short of Saving Art Houses During the Pandemic?

Virtual cinemas were meant to save independent theaters struggling through the pandemic. But nearly a year later as many art houses still remain closed, virtual cinemas hasn’t been the financial lifeline you’d expect. In a survey of 150 art houses across the U.S., over 80% of respondents said that virtual cinema revenue cannot come close to replacing theatrical revenue, according to Makenzie Peecook at Art House Convergence, an association that provides resources and opportunities for art house cinemas. “It’s not even a fraction of the revenue that we’d be making if the theater was open. It really doesn’t compare,” Wesley Emblidge, the marketing and education manager at the Coolidge Corner Theater in Boston, told TheWrap. “There are individual films that have played at the theater that in their total run have made more than all of the virtual films have made combined so far.” When the pandemic shut down cinemas nationwide, virtual cinemas were seen by many in the industry as a stop-gap measure that might provide a long-term option for theaters looking to supplement their box office. Indie distributors such as Kino Lorber, Magnolia, Oscilloscope, Greenwich Entertainment, Strand Releasing, Film Movement launched streaming platforms to allow individual theaters to...

Read original story Have Virtual Cinemas Fallen Short of Saving Art Houses During the Pandemic? At TheWrap