Paul Martin’s Business Update – October 23rd, 2014
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It was just over 30 years ago that a guy named John Naisbitt penned a book called MegaTrends. It was required reading for many businesspeople back then who were trying to figure out how the digital age was going to change the commercial landscape. Among the big beliefs of the day was that the movie theatre was about to become extinct.
A new-fangled technology called the VCR had just hit the market, sparking a belief that we’d watch movies at home and the need for theatres would disappear. Naisbitt forecast the exact opposite saying the theatre was about to enter its golden age as people pushed back from the arrival of technology by seeking social contact with other people. And the theatre offoered just that – a place to gather and be entertained.
Well, fast forward to today, Naisbitt was right. A case in point is the Galaxy Theatre in Saskatoon which is to be renamed the ScotiaBank Theatre and VIP which will feature a licensed lounge.
Not only is the movie theatre not dead, it’s now worthy of naming rights.