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Blockbusters or bust: cinema’s 60% slump

Big blockbusters and viral hits are needed to keep cinemas afloat as streaming services and a post-Covid world crush revenue by 60 per cent, according to a local industry stalwart.

One of Logan’s final two remaining cinemas announced it would soon screen its final film after three decades of service.

A spokesperson from Event Cinemas said the Browns Plains facility would cease trading on 26 September this year.

“EVT has been proud to operate Event Cinemas in Browns Plains for 30 years and would like to thank the many customers who have visited us to enjoy the experience of movies on the big screen,” the spokesperson said.

Former longtime Logan resident and current Victoria Point cinema manager Steve Maggs said while cinemas continued to face the knock-on effects of Covid, high rent costs could be a factor for Event’s closure.

He said in times of streaming and instant access to entertainment, the cinema industry had become “purely content driven”.

“Since Covid, most cinemas are only working on about 40 per cent of their pre-Covid business levels – it has never really recovered like we thought it would,” Mr Maggs said.

“People only go to the movies now when there’s something they really want to see.

“It’s popular when it’s content-driven, as you would remember with the ‘Barbenheimer’ weekend.”

The ‘Barbenheimer’ phenomenon refers to the July 2023 release of fictional comedy Barbie and historical biopic Oppenheimer.

Opening on the same date, initial rivalry between the two films was soon replaced by an internet trend in which movie-goers worldwide watched the films as a double-feature.

It resulted in major success and profits for both films.

“We had over 4000 people on that day,” Mr Maggs said.

“The closest we had been to that since Covid was 1500 or 1600.”

Despite recording a massive drop in sales, Mr Maggs said the future of cinema wasn’t in jeopardy.

“But there’s probably not going to be as many complexes,” he said.

“It’s not going to die completely – there’s still the social aspect and there are still films people want to see on the big screen.

“But there’s a lot of films they don’t want to see on a cinema screen anymore.”

Event Cinemas didn’t disclose the reason for closing its Grand Plaza venue.

A spokesperson from Vicinity, the managers of Grand Plaza, said: “Event Cinemas will vacate Grand Plaza later in 2024, paving the way for a refreshed retail offering at the centre specially curated for the tastes and needs of the local community.

“With almost 150 tenants spread across grocery, homewares, fashion and dining, Grand Plaza will continue to provide visitors a diverse mix of retail options while the Event Cinema site is transformed and will announce new retailers in due course.”

Mr Maggs said the only cinema options for Logan residents were at the Hyperdome and Yatala drive-in.

“And then there’s our one in Redbank Plains, which most people go to instead of Browns Plains anyway,” he said, with deals at his movie theatre more than 50 per cent cheaper.

“Plus, Events also have their bigger, flashier complex at Springfield, which I think they’re trying to push people over there.”

Mr Maggs has worked in movie industry since 1981.

“I’ve seen the ups and downs, and the video movement in the 80s when everyone went and got VCRs,” he said,

“All the cinemas closed then, and then they bounced back again in the 90s.

“And then with DVDs, they didn’t have as much affect as we thought they would.”

 

 

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