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Speaker 1: It looks like the old cinema business is tough At

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Speaker 1: the moment. New Zealand's major cinema chains are posting dire

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Speaker 1: results across the board. Australian owned Hoytz profit was down

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Speaker 1: eighty percent. Event Cinemas made an even bigger loss than

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Speaker 1: last year. Now Roger Wiley is the co owner of

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Speaker 1: Capital Cinemas on the Minye Road in Auckland with us. Now, hey, Roger, hey,

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Speaker 1: how are you well? Thank you? What's going wrong?

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Speaker 2: What's coming wrong? Well, there was a thing called COVID,

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Speaker 2: and then there was a writer's strike and basically things

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Speaker 2: kind of haven't come back since then.

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Speaker 1: Still still Hollywood still not pumping out any good movies. No,

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Speaker 1: not really, why not?

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Speaker 2: Why not? Well that's the ten million dollar question. Well,

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Speaker 2: also audiences aren't coming back either.

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Speaker 1: That's the audiences aren't going to come back if there

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Speaker 1: aren't any good movies to see, are they.

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Speaker 2: Well, there is good movies to say, they're not coming

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Speaker 2: back like they were. So we're probably done forty percent

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Speaker 2: on free COVID with people coming through the door. So

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Speaker 2: people are coming through the door, but they're not actually

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Speaker 2: they're buying a ticket and they're not spending anything else

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Speaker 2: apart from that ticket, or they are coming to one

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Speaker 2: off kind of special events, that type of thing. So

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Speaker 2: we've kind of changed our model a little bit. We're

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Speaker 2: doing more kind of event based screening and things like

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Speaker 2: that to try and reinvigorate or as perbits so that

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Speaker 2: you know, we've got some longevity in and because we

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Speaker 2: really believe in the industry and we just want it

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Speaker 2: to work. So we've we've kept all our prices down.

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Speaker 2: We've tried to absorb as much costs as possible because

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Speaker 2: you know, we believe that it should be accessible to everybody.

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Speaker 2: And you know, we've got one of the cheapest tickets

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Speaker 2: in town fifteen.

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Speaker 1: Dollars and fifteen dollars for an adult.

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Speaker 2: Yeah, yeah, yeah, that's pretty good.

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Speaker 1: I went to the movies the other to the three

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Speaker 1: year old to the movies for the first time. I

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Speaker 1: paid nineteen bucks for myself, So fifteen sounds like a

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Speaker 1: good deal.

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Speaker 2: Well, you know, two of you go out to one

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Speaker 2: of the big change and you're looking at one hundred

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Speaker 2: bucks by the time you parked and put your popcorn.

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Speaker 2: So we kind of believe that we knew it was

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Speaker 2: never going to be a hugely profitable business, but we

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Speaker 2: wanted to make it accessible because you know, my other

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Speaker 2: two business partners, we have a love for that cinema

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Speaker 2: and it would be such a shame to see cinemas

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Speaker 2: like that go from your suburbs around New Zealand, which

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Speaker 2: we all kind of grew up with. You know, we've

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Speaker 2: got those memories of Zaffa's and you know the short

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Speaker 2: films that used to play before films, and yeah, the

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Speaker 2: pre shows were great fun.

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Speaker 1: Roger beast of luck with it. I really hope that

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Speaker 1: the audiences do come back. That's Roger Wileye Capital Cinema Cone.

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