Even the beloved chains are drowning. Alamo Drafthouse, the one theater brand film lovers actually defended online, filed for bankruptcy in 2024 and got sold to Sony. Read that again: the premium experience, the good food, the no-talking rules, the curated programming, and it still couldn't make the math work. If the best version of the product fails, the problem isn't execution. The problem is the product category. People keep saying theaters need to be more like Alamo. Alamo tried. It went bankrupt.
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