By Ben McCarthy
Over the July 4th weekend, Belton Cinema 8 Manager Willie Walker was home from work and figured he’d browse around Netflix just to see what was playing on the biggest streaming service in the world.
He didn’t expect to see Eddie Murphy starring in a new Beverly Hills Cop movie (“Axel F.”). Walker, who’s worked in the industry for 40 years, was stunned. Just a few short years ago, such a film would enjoy a sizable theatrical run, before finding its way into home viewing. Instead, more and more films like this bypass the theaters altogether, leaving Cinema 8 with fewer options to keep traffic stable at the 8 screen complex.
“It just drives me crazy,” Walker said. “The distribution model has been changed by the streamers.”
Despite the impact of Netflix and other streamers, such as Disney+, on the theater business, Walker and his family have found and maintained success, even managing to keep costs for moviegoers in check for over a decade.
“We haven’t changed prices since we opened here in 2012,” Walker said. “Our tickets are $7.75, and $5.75 for matinees, and our concessions are about as low as you will find anywhere in the area.”
Walker has made it a family business, as well. His wife, Veronica (whom he met while working at a Texas theater in 1987), and his daughter, Adriana Blue, both keep the operation running smoothly. All family members reside in Belton or Grandview. They say that Covid-19 also had a seismic impact on a business that has become their lives.
“The industry has changed forever because of Covid,” Walker said. “A lot of small operators had to close.I think our saving grace was that we own all of our own properties.”
Belton Cinema 8 is one of 15 properties owned and operated by Mitchell Theatres, based in Elkhart, KS (the Sunflower state accounts for 6 of the 15 locations). Owner Brian Mitchell and his family brought Walker into the fold when they got started in the business in the early 2000’s. Mitchell mostly operates in small towns around the country, with Belton being the only location that tiptoes into a big city.
“We try to offer small town prices, but with some of the large town amenities,” Walker said. “We won’t try to compete with food delivery to your seat, but we can put bigger, cushier seats in the theater for a better viewing experience.”
Last weekend, the superhero team-up, Deadpool & Wolverine, opened to a record-shattering $211 million at the domestic box office (plus $233 million internationally, for a worldwide start of $444 million), the sixth-biggest opening of all time for any film, and by far the biggest launch for an R-rated film. It’s was the second biggest opening weekend for a film since Covid-19 created an existential crisis for the theater business in early 2020 (another Disney/Marvel superhero, Spiderman, captured the second biggest opening weekend of all time in December 2021 with “No Way Home”). It’s a welcomed sign for theater operators like Walker, that people will abandon the comforts of what the streamers offer at home for the true “big screen” experience. However, Disney will keep the lion’s share of those numbers.
“Disney will take 90% of the ticket revenues for the first two weeks,” Walker said. “When you’re dealing with Disney, there’s no negotiating terms.”
While Belton Cinema 8 didn’t have data to report from over the weekend, Leawood-based AMC Entertainment announced on Monday that it was their highest attended weekend of 2024, and their best weekend for food and beverage revenue since 2019. Ryan Noonan, AMC’s Vice President of Corporate Communications, told the Telegraph on Tuesday night that over 6 million moviegoers watched movies at AMC Theatres last weekend, driven largely by Ryan Reynolds and Hugh Jackman’s new blockbuster.
The box office boom comes just a week after the company announced a debt restructuring plan with creditors to extend the maturity of up to $2.45 billion of its debt from 2026 to 2029 and beyond, providing what they called “significant incremental financial runway” (the company still holds a reported $4.5 billion in long term debt, down a bit over 7% from the same period last year).
In addition to the box office receipts, the company has also reason to be optimistic thanks to new revenues generated through specialty popcorn collectibles (be on the lookout for an especially suggestive Wolverine popcorn bucket being launched to coincide with the character’s return to theaters) and a partnership launched last year with Walmart for ready-to-eat popcorn on shelves around the country.
Brian Mossman, co-owner of the Glenwood Arts Theatre, was one of the few theater owners in the greater Kansas City area that didn’t feature the Disney-backed blockbuster.
“AMC Town Center, alone, had 50 show times each day,” Mossman said. “There’s no reason for us to bother with it.”
Ironically, Mossman’s lineup of films will soon feature Ryan Reynolds’ wife, Blake Lively, in “It Ends With Us,” which opens next week. He’s also looking to cut down on the ever growing number of previews that play before the film. Some AMC films now feature 25 minutes worth of ads and trailers prior to the actual film commencing. Mossman, with over 40 years in the business, understands the need to market the material, but, like Walker, feels the theaters have to acknowledge that “Covid and streaming” have changed customer habits.
“Before Covid I was running 10 minutes of previews, but now it’s almost 15,” Mossman said. “People look at their time differently since Covid, and we can’t ask them to sit through 20 to 25 minutes of previews and then a two and half movie, or longer.”
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