Home About Archives RSS Feed

The Retired Investor: The Drive-In Returns

By Bill SchmickiBerkshires columnist
There is not much good one can say about the coronavirus, but if one looks hard enough there are a few silver linings. One of which is the revival of the drive-in theater.
 
Cinemas have been closed for months, thanks to COVID-19, and are only now re-opening to limited audiences. In the meantime, consumers have been surviving on streaming movies and television series for entertainment. However, one bright spot for those who can take advantage of it has been the drive-in theater. 
 
It is well-suited for a country in pandemic, and ready made for social distancing. At many drive-ins, autos are parked at least 6 feet apart. Ticket-holders do not need to wear a mask as long as they stay in their cars. If you want snacks, your food is brought to you. In a society that is just aching for a night out, the drive-in offers family entertainment in a safe, responsible setting. What more could you want?
 
Usually, I'm not one for nostalgia, but I make an exception when it comes to drive-ins. The drive-in is a uniquely American invention first established in Camden, N.J., back in 1933. It was the brainchild of the manager of a sales parts store, Richard Hollingshead. Over the next three decades, the concept caught on, driven also by the invention of audio speaker technology for in-car use in 1941.
 
By the time I was 10 years old, back in 1958, drive-in theaters hit their peak with more than 4,000 locations in the U.S. Living in Pennsylvania, it became a staple of my family's weekend entertainment. In the Sixties, when I became old enough to drive, it was also my favorite date-night activity. It sparked some of my steamiest teen-age romances.
 
Since then, the number of drive-in theaters has dropped by 90 percent. A combination of factors caused the demise of my favorite pasttime. The VCR, DVDs, and finally the advent of streaming took over as consumers could increasingly watch the same movie entertainment from their couches at home. If you felt like going out, the invention of giant multiplexes in every shopping mall was an irresistible draw for shopping, dinner, and then a movie. Finally, rising land costs made selling properties for development much more profitable than charging tickets to dwindling crowds at the neighborhood drive-in.
 
Today, according to the United Drive-in Theatre Owners Association (UDITOA), there are only about 300 of these institutions left, with my home state, Pennsylvania, and New York sharing the top spots with 28 each. The fact that owners are showing the movies of yesteryear, like "Harry Potter," "Goonies," and "Jurassic Park" just adds to the nostalgia.
 
Could drive-ins, ex-pandemic (if there will be such a thing), still survive? Some companies are betting they could. Walmart, for example, intends to transform 160 of its car parks into drive-in theaters in partnership with Robert De Niro's Tribeca Enterprises. Drive-ins could provide a new use for America's brick and mortar mall space. Similar efforts are underway in South Korea and Germany where drive-ins have become popular. Drive-ins may have some good things going for them as well.
 
Indoor movie theaters, for example, could transform their parking lots into outdoor venues. Technology, in the form of FM and Bluetooth transmissions can easily convert into stereo sound through any car speaker system. In addition, today's high-quality HD and 4K movies would work well projected on the giant drive-in screens. 
 
From a marketing point of view, enterprising owners could bring back the double, or even triple features to moviegoers. Marathon movie nights might also be popular. Retro and nostalgia fans, as well as those too young to remember all the Harry Potter, Star Wars, or Indiana Jones movies, might be popular. 
 
I remember that at some point, drive-ins also featured live entertainment, bands, and even playgrounds and petting zoos. Who knows what the entrepreneurs of the future might come up with? The point is that times are changing and sometimes we might want to look to the past for answers to today's issues. I for one am hopeful that drive-ins do make a comeback. 
 

Bill Schmick is now the 'Retired Investor.' After working in the financial services business for more than 40 years, Bill is paring back and focusing exclusively on writing about the financial markets, the needs of retired investors like himself, and how to make your last 30 years of your life your absolute best. You can reach him at billiams1948@gmail.com or leave a message at 413-347-2401.

 

 

0 Comments
     

Support Local News

We show up at hurricanes, budget meetings, high school games, accidents, fires and community events. We show up at celebrations and tragedies and everything in between. We show up so our readers can learn about pivotal events that affect their communities and their lives.

How important is local news to you? You can support independent, unbiased journalism and help iBerkshires grow for as a little as the cost of a cup of coffee a week.

News Headlines
SVMC Earns 'A' Rating from Leapfrog
Great Barrington Impact Fund Open for Applications
Mayor Tyer, DA Harrington Focus Resources on Gun Violence
Cheshire Unveils New Monument to the 'Big Cheese'
Tourists Resort's Plans for Former Mass Ave Church Approved
Special Response Team Alerted for Reported Home Invasion
Lanesborough Holds 2021 Election For Offices
Pittsfield Lifts State of Emergency
Vaccinated Residents Can Win a 'VaxMillion'
SVMC Updated Visitation Policy
 
 


Categories:
@theMarket (372)
Independent Investor (451)
Retired Investor (46)
Archives:
June 2021 (4)
June 2020 (3)
May 2021 (6)
April 2021 (9)
March 2021 (8)
February 2021 (8)
January 2021 (5)
December 2020 (6)
November 2020 (8)
October 2020 (7)
September 2020 (6)
August 2020 (6)
July 2020 (10)
Tags:
Pullback Markets Currency Deficit Japan Wall Street Oil Debt Europe Fiscal Cliff Taxes Stocks Federal Reserve Selloff Banks Bailout Rally Stimulus Debt Ceiling Europe Greece Housing Retirement Commodities Election Stock Market Recession Congress Metals Crisis Energy Euro Economy Interest Rates Jobs
Popular Entries:
The Independent Investor: Don't Fight the Fed
@theMarket: QE II Supports the Markets
The Independent Investor: Understanding the Foreclosure Scandal
The Independent Investor: Does Cash Mean Currencies?
@theMarket: Markets Are Going Higher
The Independent Investor: General Motors — Back to the Future
@theMarket: Economy Sputters, Stocks Stutter
The Independent Investor: How Will Wall Street II Play on Main Street?
The Independent Investor: Why Are Interest Rates Rising?
The Independent Investor: Will the Municipal Bond Massacre Continue?
Recent Entries:
@theMarket: Inflation Is Running 'Hot'
The Retired Investor: Want equality? Start With Better Jobs
@theMarket: A Churn at the Top
The Retired Investor: The Movies Return
The Retired Investor: Carbon Market Comes of Age
The Retired Investor: Gold Regains Its Mojo
@theMarket: Inflation Fears Weigh on Investors
The Retired Investor: A Labor Shortage Solution
@theMarket: Stocks Make New Highs
The Retired Investor: Are Inflation Fears Real or Imagined?