While My Multiplex Gently Weeps
Heading out to the local multiplex this time of year is a holiday tradition, but don't be surprised if your ticket taker was sleeping on the job this past weekend. Domestic theater chains sold a mere $37.6 million in admissions over the weekend -- the worst showing since January of this year.
This is naturally uninspiring news for exhibitors, but they're not the only ones paying the price, when just 1% of the country went to the movies this past weekend. Movie studios making the films on the silver screen are struggling, even as they have digital distribution to catch audiences at home as a back-up plan. Neighboring restaurant and bar operators that rely on a steady trickle of customers stopping by before or after a movie will also feel the pinch.
Even income investors could get caught in the crossfire. EPR Properties (NYSE: EPR) -- a real estate investment trust (REIT) that focuses on experiential properties -- relies on movie theaters for more than 40% of their business. EPR Properties' 8.1% yield may seem attractive on the surface, but that might not be the case if multiple operators don't get back to pre-pandemic levels soon.
Source Fool.com
