“Too Many Malls” – GSC To Close More Cinemas This Year
“Too Many Malls” – GSC To Close More Cinemas This Year
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When it comes to the movies, Golden Screen Cinemas (GSC) holds a special place in our hearts.
Many would have the memory of watching their favourite movies and enjoying the delicious popcorn in these theatres.
However, GSC is set to close outlets at several locations this year as part of its strategic consolidation plan to optimize operational efficiency across its theaters in adjacent catchment areas.
This was what the company’s CEO Koh Mei Lee told the Business Times, recently.
Koh said there are many shopping malls today, especially in the Klang Valley. This has led to the closure of older cinemas where patronage has dropped and priority is being given to newer locations.
She cited an example of their outlet in Berjaya Times Square which was closed as there is an outlet in the newer Lalaport BBCC.
Other factors such as streaming services are not considered a threat as Koh said streaming services and cinemas coexist. Both offer different benefits to moviegoers.
The film industry isn’t without new challenges though, one such example is the Hollywood writers’ strike in 2023.
But Koh believes that GSC has the opportunity to bring in a stronger line-up of titles, be it regional or local.
There have already been a few GSC outlets that have closed, apart from the one in Berjaya Times Square.
Among them in 3 Damansara, Alamanda, Klang Parade, and another one outside KL; Heritage Mall Kota Tinggi in Johor.
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