Sony Becomes The First Major Studio To Own A Theater Chain In 75 Years

TV & Film

Jun 13

Sony Pictures has recently acquired a Texas-based small chain of movie theaters called the Alamo Drafthouse. Sony won’t be flipping the company’s structure entirely; Drafthouse CEO Michael Kustermann will retain his position while taking on an additional head role within a subdivision of the new parent company, reporting to Sony President and COO Ravi Ahuja. All of its 35 locations will continue to operate as normal, and the chain’s annual film festival, Fantastic Fest, will continue to occur.

Ahuja commented on the general interests in the theater chain for the company’s purchase, and expressed that Crunchyroll content will not be their only focus in a statement:

“We believe strongly in engaging entertainment fans outside the home in fun and distinctive ways as seen most recently with our Wheel of Fortune LIVE! traveling tour, and the opening of Wonderverse in Chicago. Alamo Drafthouse’s differentiated movie-going experience, admired brand and devoted community fit well with this vision. Our Crunchyroll business also aligns well with their audience’s interests. We look forward to building upon the innovations that have made Alamo Drafthouse successful and will, of course, continue to welcome content from all studios and distributors.”

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Sony’s move to acquire a theater chain has raised some eyebrows based on the reversal of the Paramount Consent Decrees of 1948. It raised concerns over the production company’s ability to forcefully show its films as the primary content in its theaters while limiting any other theater from being able to show the films. The Decrees were reversed in August of 2020 based on business practices, technology, and overall markets being drastically different now than they were over 70 years ago; a two-year sunset period was included and has been over for several years now. Changing as little as possible, at least off the bat, will help deter negative connotations.

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