I know, Sad Tom Cruise can hardly believe it either. Deadline published this report about the failing state of the AMC theater chain, which (once you get past all the millions and billions that they apparently owe to various lenders and whatnot) basically says that nobody went to the movies in the last part of 2011. Hear that wailing off in the distance? Somewhere in Hollywood a host of studio executives fall to their knees, rending their expensive suits and wishing they'd picked up the Mission Impossible franchise when they had a chance.
"The exhibition chain reports this morning in an SEC filing that it had a $72.8M loss in the last three months of 2011 — more than double its $32.8M loss in the quarter a year ago — on revenues of $557.3M, down 7.6%. Attendance fell 8.7%."
Almost 9% less people went to the movies last year than the year before. Were you one of them? Did you stay home with your DVDs and your TV? You disgust me. Apparently the huge drop in revenue has a lot to do with fewer IMAX movies and 3D, which is something I think we can all live with. Just don't forget to pay homage a few times a month otherwise you, yes you, will be personally responsible for killing an art form.
With this news, no doubt meetings are being held even now. The immediate brainstorming for how to get people into theaters has begun, and though somewhere, someone mentions that studios might start making movies that people want to see, this lone voice is silenced.