New York’s Paris Theatre, a fixture just off Fifth Avenue for 71 years, has joined the alarming list of movie theaters overwhelmed by changing tides in the industry and urban development. The…
that the theater would close at the end of August if something drastic didn’t happen to get the Solow real estate family to reconsider. Subsequently, they barely returned the calls of those who tried hard to change their minds to keep open the only single screen prestige film house left in New York after the nearby Ziegfeld Theater closed and became a muti-purpose facility. 71-year old Paris Theatre opened its doors in 1948, with actresscutting the ribbon.
Traditional movie release windows are undergoing dramatic shifts and theaters are feeling the squeeze, especially on the specialty end of the business. Deadline’s Pete Hammondas much earlier today when reporting that the Telluride Film Festival lineup includes a number of films from Netflix and Amazon that will appear on streaming platforms after just two weeks in theaters.
The toll has been particularly steep in New York, where the real estate occupied by theaters is highly prized in a booming city of condos and chain stores. In just the past two years alone,
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