Nearly a third of independent cinemas in the UK face closure within the next three to five years without new investment, according to research from the Independent Cinema Office (ICO).
As reported by the Guardian, the ICO found that 31% of independent cinemas and mixed arts venues in the UK said they would not be able to remain operational without capital investment. A further 28% saw they were unsure of their future viability.
A total of 109 venues were polled and only 41% said they were confident of surviving the next three years.
The venues that were in need of capital investment noted that the money was required for upgrading equipment and interiors, and investing in environmental sustainability, business growth and building repairs.
More specifically, repairs were entered around roofs and windows while there was a need to improve lifts and toilets to boost accessibility. Venues also pointed to environment improvements such as the installation of solar panels and battery storage, new heating systems and building insulation.
There was also a need for upgrades to projectors, seating and sound systems, and a desire to build additional screens, renovate or grow cafe bars and expand spaces.
Additionally, the ICO said many of the participating venues in the survey were non-profit organisations.
The ICO works in partnership with more than 20 venues across the UK. In its 2023-2024 annual report, these partner venues saw a total of 845,468 admissions across 850 films shown. This equated to a £5.9m (€6.9m/$7.8m) gross box office.