business
Newsday reporter
The pleasures of cinema have long been part of the culture of Trinidad and Tobago. But throughout history, cinemas have also played a non-essential role in our economy.
Despite the damaging impact of the pandemic, this looks set to continue.
From their beginnings at London’s Woodbrook Electric Theater in 1911 to the eventual establishment of giant multiplexes, these businesses have not only provided entertainment for generations over the decades, but they have also provided employment, acted as a focal point of distribution to various vendors and sparked the imagination of countless people who dreamed of going into business.
Cinemas have also helped shape our understanding of the domestic market. During the early era of motion pictures, the country was saturated with American and European films. Indian films arrived in 1935 and with them came the reinforcement of the potential growth that could be achieved simply by catering to what segments of the local population wanted and needed.
CinemaOne management’s recent decision to expand its cinema experience in Chaguanas and La Romaine refers to this long history.
CinemaOne will open one of its Gemstone cinemas at Gulf City Mall, which once housed two theaters managed by East Indian film distributor Raj Maharaj, and will also make its way to Price Plaza in a new venture with Endeavor Holdings Ltd.
CinemaOne and Endeavor Holdings are both among the first listed companies in the small and mid-cap tier of the TT stock exchange.
But the way forward for such businesses is far from simple.
Long before the pandemic, the growth of streaming services began to affect movie theaters’ potential revenue streams.
Cinemas around the world have responded to this challenge by placing greater emphasis on the moviegoing experience. They have offered films that can be better appreciated on the big screen. And they’ve been looking to up the ante when it comes to things like concessions and seating.
Pandemic, however, was introduced as a giant meteor that could appear in a science fiction movie and all but wild movies.
Even with the easing of restrictions, new rules and practices have reduced seating capacity and put more strain on staff. There are still many people who are afraid to leave the house to watch a movie.
CinemaOne and its partners are building on all these changes, capitalizing on old trends in the market and positioning themselves as having something unique to offer audiences.
The move to Gulf City, while involving smaller, more luxurious theaters, is actually a form of back-to-basics, given assumptions about what patrons in that part of the country might want.
If the domestic film production industry, which by some accounts could one day contribute to a more diverse economy, is really to stand a chance, local movie theater chains would do well to act as distributors as well.
It is clear, like a series of comic films, the history of cinema in TT is not over.
