Stelios at it again
Remember easyJet? The airline Stelios founded. One of the first low fair no frills airlines in Europe. Well, the guy is at it again, this time with Cinemas. He opened a Cinema in Milton Keynes (seat of the OU :)) which works a similar way to the airline. You buy only online, you pay less for 2nd rate movies or rather when there are a lot of empty seats. You also bring your own food and a poster saysing “Your mother doesn’t work here!” alerts you that you should take your trash with you.
The biggest problem he is facing, which might have been found when doing a Porter 5-forces analysis is with supplier. Something he isn’t used to. The big film studios are just not giving him films. They normally make money based on the box office sales and Stelios is just offering them a one time fee.
At the moment he is loosing money, but hey, he just sold lots of stock and as he puts it himself, he can fund the cinema for decades to come. ;)
Read the article: Fast Company | In Movieland, Not so Easy