Vancouver: Since opening Dec. 19, Famous Players’ 12-screen SilverCity Riverport complex in Richmond has become the Lower Mainland market leader, outperforming the downtown exhibition halls with most titles.
An overnight success, Riverport ranks among the top North American theaters for grosses on Titanic and Tomorrow Never Dies. For the week of Jan. 16, it ranked 8th with Titanic and 4th for Tomorrow, while Famous Players’ venerable Capital Six theater on Granville Street didn’t earn a mention among the top performers.
Dennis Kucherawy, director of corporate pr for Famous Players, says Riverport features the same stadium seating, huge screens and extended concessions as the four other SilverCity-style locations opened in Canada since November ’97.
‘We have to give people a reason to go out to the theaters,’ says Kucherawy, explaining that making Riverport an entertainment destination attracts people who might otherwise stay at home to watch movies on the vcr. ‘We’re not cannibalizing our other theaters. We are growing the market.’
As a private company, Famous Players does not release financial information. However, a hit movie in a hot venue can gross anywhere from $18,000 to $20,000 per screen per week.
And while Kucherawy admits that Riverport is outperforming the Capital Six, he will not divulge the proportional increase in business.
Dave Forget, vp of sales for Vancouver distributor Red Sky Entertainment, confirms the new market trend, adding that downtown Vancouver theaters the Capital Six and Cineplex’s Granville 7 – which perform neck-and-neck – are more than holding their own. Six-month performance tallies suggest the downtown theaters are doing stable, substantial business, he says.
‘Traditionally,’ Forget explains, ‘it’s the downtown location that does the best numbers.’
However, the suburban megaplexes are building frequency and new customer bases. ‘The game plan is to essentially get more people into the theaters more often,’ says Forget. ‘These new theaters are working to grow the business.’
Improved economies, increased disposable income and the allure of rapidly advancing movie technology contribute to the growth in the box-office business.
Both Kucherawy and Forget agree there is no clear trend of exhibitors investing more in suburban areas like Richmond. Rather, downtown land costs are too expensive or scarce to allow for further development downtown.
Ontario SilverCity theaters include the eight-screen complex in St. Catharines (opened Nov. 7) and 10-screen complexes in Mississauga (Nov. 28), Ancaster (Dec. 5) and Windsor (Dec. 12). Combined with Famous Players’ other branded theater division, The Coliseum, and more traditional or specially designed complexes, Famous Players is undergoing the most aggressive expansion of its 77-year history.