The movie theatre business offers insights as to how firms can find new opportunities for turning around dying businesses by understanding consumers and their needs better.
For movie theatres in the U.S. and Western Europe, viewership peaked in the late 1940s and has since slid by 80 percent or more, depending on the market. Television made the initial dent, followed by home videos, and most recently the likes of Netflix and Amazon Prime. A common thread that ties all the competition together is the television set. Given this, movie theatres have recently built on their offering to give movie viewers an experience that cannot be replicated on TV at home.
