Sony has already bough the Alamo Draft house theater chain and is likely going to buy Paramount. Moves like these tell me that cinema is having a revival and a metamorphosis at the same time. And while everyone likes to pick on AMC (as the largest theater chain) up until as recently as 2018 they were profitable. They ended up in a pretty bad financial state by 2019 but it had nothing to do with ticket sales and it was only made worse by Covid and then the writers strike. Still since then they have seen reduced losses, while reducing debt. While ticket sales are below pre pandemic levels ticket sales and revenue have remained stable at what is probably a new normal. All of this points to an overall adjustment to a reduced market size in the short term but not by any means a complete loss of the industry. AMC alone had almost $4 billion in revenue last year. That’s means there is still a sizable market for the movie going public. As someone who goes regularly to the theater I can say I have seen both completely empty and completely sold out shows and everything in between.