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Roger Wyllie: Capitol Cinema co-owner on movie theatres taking a revenue hit · Best of Business

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  Speaker 1: You're listening to a podcast from News Talks'd be follow
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  Speaker 2: Looks like the old cinema business is tough at the moment.
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  Speaker 2: New Zealand's major cinema chains are posting dire results across
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  Speaker 2: the board. Australian owned Hoytz profit was down eighty percent.
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  Speaker 2: Event Cinemas made an even bigger loss than last year.
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  Speaker 2: Now Roger Wiley is the co owner of Capital Cinemas
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  Speaker 2: on the Minye Road in Auckland with us. Now, hey, Roger, Hey,
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  Speaker 2: how are you well?
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  Speaker 1: Thank you?
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  Speaker 2: What's going wrong?
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  Speaker 3: What's coming wrong? Well, there was a thing called COVID
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  Speaker 3: and then there was a writer's strike and basically things
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  Speaker 3: kind of haven't come back since then.
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  Speaker 2: Still still Hollywood still not pumping out any good movies.
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  Speaker 3: No, not really, why not rotten? Why not? Well, that's
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  Speaker 3: the ten million dollar question. The Well, also, audiences aren't
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  Speaker 3: coming back either, that's.
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  Speaker 2: The well, audiences aren't going to come back if there
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  Speaker 2: aren't any good movies to see, are they?
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  Speaker 3: Well, there is good movies to say, they're not coming
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  Speaker 3: back like they were. So we're probably down forty percent
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  Speaker 3: on pre COVID with people coming through the door. So
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  Speaker 3: people are coming through the door, but they're not actually
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  Speaker 3: they're buying a ticket and they're not spending anything else
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  Speaker 3: apart from that ticket, or they are coming to one
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  Speaker 3: off kind of special events that type of thing. So
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  Speaker 3: we've we've kind of changed our model a little bit.
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  Speaker 3: We're doing more kind of event based screening and things
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  Speaker 3: like that to try and reinvigorate or as pubits so
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  Speaker 3: that you know, we've got some longevity in and because
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  Speaker 3: we really believe in the industry and we just want
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  Speaker 3: it to work. So we've we've kept all our prices down.
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  Speaker 3: We've tried to absorb as much costs as possible because
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  Speaker 3: you know, we believe that it should be accessible to everybody.
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  Speaker 3: And you know, we've got one of the cheapest ticket
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  Speaker 3: in town fifteen dollars.
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  Speaker 2: And fifteen dollars for an adult.
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  Speaker 3: Yeah, yeah, yeah, that's pretty good.
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  Speaker 2: I went to the movies. The other took the three
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  Speaker 2: year old to the movies for the first time. I
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  Speaker 2: paid nineteen bucks for myself, so fifteen sounds like a
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  Speaker 2: good deal.
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  Speaker 3: Well, you know, two of you go out to one
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  Speaker 3: of the big changes and you're looking at a one
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  Speaker 3: hundred bucks by the time you parked and put your popcorn,
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  Speaker 3: So we kind of believe that. We knew it was
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  Speaker 3: never going to be a hugely profitable business, but we
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  Speaker 3: wanted to make it accessible because, you know, my other
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  Speaker 3: two business partners, we have a love for that cinema
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  Speaker 3: and it would be such a shame to see cinemas
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  Speaker 3: like that go from suburbs around New Zealand, which we
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  Speaker 3: all kind of grew up with. You know, We've got
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  Speaker 3: those memories of zaphas and the short films that used
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  Speaker 3: to play before films, and yeah, the pre shows were
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  Speaker 3: great fun.
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  Speaker 2: Roger, best of luck with it. I really hope that
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  Speaker 2: the audiences do come back. That's Roger Wileye Capital Cinema ConA.
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