Local Movie Houses Face Extinction Due To Gentrification

"Paradoxically, movie houses, like dry cleaners and shoe-repair shops, tend to meet their demise as the neighborhood around them becomes more fashionable and affluent. Local movie theaters have never been very profitable, and rising real estate values make them less so.Just as small coffee shops and independent bookstores have been supplanted by Starbucks and Barnes & Noble, with their bigger selection, slicker service and ability to pay higher rents, so, too, local movie houses have been supplanted by multiplexes where audiences willingly pay more money to have a wider choice of films and to see them in a cleaner, more tranquil setting."

Thanks to Abhijeet Chavan