The cinema chain Alamo Drafthouse has a new owner: Sony Pictures. The movie studio announced the purchase Wednesday with a press release detailing the deal, as well as the planned future for the chain’s existing theaters.
According to Sony’s press release, current Drafthouse CEO Michael Kustermann will remain in that position and head a new division, Sony Pictures Experiences, while reporting to Sony Picture Entertainment president and COO Ravi Ahuja. The theater will continue to operate all of its current 35 theaters in the United States. Alamo Drafthouse also continues to host Fantastic Fest, the annual film festival in Austin, Texas.
It’s no surprise that most of the acquisition announcements so far have focused on how little Sony plans to change about the beloved theater chain, at least so far. The idea of a film studio owning a chain of theaters still raises uncomfortable questions among many theatergoers. The practice was illegal until 2020, when the Paramount Decrees were repealed. The decrees, which went into effect in 1948, were originally part of a series of antitrust rules intended to end the vertical integration of the film industry, in which studios controlled every aspect of a film’s life cycle, from production to cinema distribution, which was often limited. to studio-owned theaters.
Photo: Heather Leah Kennedy
Although the legal change occurred four years ago, few production studios have taken advantage of the opportunity to purchase their own theaters. Netflix and Disney have both put their names on historic theaters, keeping them open and showing a steady mix of their own films and competitors’ projects. But Sony is the first to create a play for a larger theater chain.
This latest move from Sony also appears to be tied to its 2021 purchase of Crunchyroll, the United States’ largest anime-focused streaming site. Sony has helped Crunchyroll become a major player in the theatrical exhibition space, especially for anime films like this year’s Haikyuu!!: The Fight Against the Dumpster. Increasing the box office impact of these anime films has been a major goal for Sony in recent years and was the focus of the company’s studio presentation at this year’s CinemaCon.
According to a quote from Ahuja in Sony’s press release, the company thinks Alamo Drafthouse’s existing fans will be a good fit for Crunchyroll’s offering, suggesting that anime will play a big role in the theater chain’s future. Ahuja also notes that the type of programming fans already enjoy at Alamo Drafthouses will continue, including films from studios other than Sony.
“Alamo Drafthouse’s differentiated movie experience, admired brand and dedicated community align well with this vision. Our Crunchyroll activities also fit well with the interests of their audience. We look forward to building on the innovations that have made Alamo Drafthouse successful and will of course continue to welcome content from all studios and distributors.”