Landmark Theatres’ Peak Venue To Close At Month’s End; Blow To LA Arthouse Scene – Deadline – Jahanagahi

Landmark Theatres’ Peak Venue To Close At Month’s End; Blow To LA Arthouse Scene – Deadline

With the Hollywood Arclight already closed, now comes another blow to Los Angeles’ specialty cinema scene: The 12-screen Landmark Pico is closing at month’s end after 15 years, the chain said today.

Landmark Theatres’ flagship venue, which has been a destination for countless Academy screenings since 2007 in addition to Deadline’s Screening Series over the years, will be shuttered when its lease expires May 31.

Landmark Theaters

“For months, we’ve worked to extend our tenancy of the Landmark Pico but have been unable to reach terms,” Landmark Theatres’ President Kevin Holloway said in a statement. “We send our deepest appreciation to the Pico staff, guests and the filmmaking community for their support over the years. We’re exploring opportunities to expand our Los Angeles footprint, which we hope to be able to share more on soon.”

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The timing of today’s news is particularly unfortunate as specialty cimena has begun a comeback, with A24’s Everything Everywhere All at Once putting arthouses back on the rails after a long pandemic-burdened dry spell. The Michelle Yeon-fronted pic opened March 25 to more than $500,000 from 10 screens in LA, New York and San Francisco for a hefty $50,965 per-screen average. It is racing toward a $50 million haul, with $42.7 million through Sunday and counting.

The Pico’s pending closure also will hurt the box office for upcoming limited-release titles like Downton Abbey: A New Era, which will lose a key Los Angeles venue.

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The Landmark Pico at the former Westside Pavilion on Pico Boulevard near Westwood Avenue is part of the chain that was acquired in 2018 by the Cohen Media Group’s Charles S. Cohen. Landmark Theaters operates nearly three dozen theaters with 195 screens.

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