Paragould Movie Theater Announces Closure

PARAGOULD, Ark. – It is a sad day for movie goers and others in Greene County as the Paragould Cinema 8 movie theater has announced its impending closure.

The theater announced they will be closing at the end of day on Thursday, May 16, 2024.

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Thank you to all of our customers who have supported us over the many years and thank you to all employees past and present for your loyalty and dedication. We will forever cherish all of the fun times and great memories.

The movie theater’s management discussed the closure more in a letter. The movie theater industry has been severely impacted, the letter says, by the pandemic, competition from streaming, the writer’s/actor’s strike, spiraling costs, and lack of blockbuster releases.

According to stats from BoxOfficeMojo.com, in 2019, the movie industry’s domestic yearly box office gross was $3.9 billion. In 2020, as the pandemic hit, it dropped about 54% to $1.7 billion. Things got even worse in 2021, as domestic grosses dropped another 72.7% to $488 million.

Since then, however, business has improved, in some regards. In 2022, the US box office total was $2.2 billion, and $2.9 billion in 2023. But even though movie grosses have improved, there seem to be far less mega-hits. In 2019, ten films grossed over $200 million in the United States, led by Avengers: Endgame’s $858 million domestic gross. So far, in 2024, only one film has grossed over $200 million – Dune: Part Two, at $281 million.

Located at 2707 West Kingshighway, the Paragould Cinema 8 was constructed in 2005, the press release says, opening that August. Prior to the pandemic, the theater sold over 250,000 box office tickets annually. The movie theater is 25,000 square feet.

In addition, a “Cinema Center” maintains a variety of retail shops nearby the theater. The press release says they will not be impacted by the closure of the cinema, although one might suspect it to affect business.

William Pollack, managing member of Arkansas Cinema L.L.C., said his group is in discussion with potential investors interested in the property.

“We are optimistic that location soon will again be known as ‘the ultimate entertainment experience.'”