Indie cinemas enjoying revival as multiples reel

Everyman Media, an AIM-listed business with cinema screens in Manchester, Liverpool and Altrincham amongst its portfolio of 38 cinemas, produced solid results last week which had analysts from AJ Bell purring.

At a time when Cineworld is in bankruptcy in the US and rival multiple Vue is restructuring, Everyman took £78.8m in the box office, turning a profit of £402,000, up from the prior year’s operating loss of £2.2m on 3.4m admissions.

Chief executive Alex Scrimgeour said they were getting back to business as usual with a blend of comfort and fund that many feel has been lost from the simple of act of going to the flicks.

“Everyman remains a popular and affordable choice for consumers, combining great film, hospitality and atmosphere to provide an exceptional cinema experience,” he said.

In the North West there are pockets of characterful local cinemas, art house and more mainstream, that are offering discerning cinema goers something different from what had become a soulless and wallet sapping exercise. 

Before the pandemic, Edwin Gnanaprakasam bought his local one-screen cinema, The Regent in Marple, Stockport.

He’s shaped an offer that’s different from a multiplex, or even the likes of Everyman and The Light which operates 4 miles away in Stockport, by offering what he describes as a friendly and personal service. 

“Most of our customers are regular patrons whose names and faces are familiar. Our pricing of tickets is competitive while it offers a qualitative experience.

“Watching a movie is a very relative subject. Conventional cinema going is a family and social exercise which creates and evokes memories. Our conventional approach to the cinema business surpasses the experience obtained from streaming services.”

A trip to the Regent with pop, chocolates and popcorn and an ice cream at the interval comes in at under £10, which is no mean feat.

He’s got back on his feet after having to close during Covid, helped to a large extent by the Bond film No Time To Die, which ran to packed houses for several weeks.

“The national cinema admissions have not gone back to the pre-Covid levels. However, we seem to make business good enough to make ends meet.”

Part of his challenges have also been rising energy costs and finding the right movies for the core audience that he knows so well.

For Russ Mould, analyst at AJ Bell, the challenge is managing that price point for Everyman, but the advice would equally apply to other local leisure offers. “It needs to keep prices low enough that it remains an affordable luxury for a large enough audience, while at the same time maintaining the quality and standards which help incentivise film-lovers who can stream most films they want at the click of a button to go out and pay to see the latest releases on the big screen.”