A downtown theater provides not only entertainment, but a venue for other events that attract people downtown, and cross-promotional opportunities with nearby synergetic businesses such as restaurants, bars, book stores, and arts-based retail.
The Great Recession of 2008 left many small downtown theaters struggling financially. On the heels of that, theater owners must now finance conversion from 35mm to digital projectors by the end of 2013, when first-run movies will no longer be available in the older format.
Not only are the digital projectors and surround sound systems costly, but owners must ensure that historic theaters and projector booths are properly prepared for the new technology.
The full article appeared in our print edition. To always get the full story, read Downtown Idea Exchange.