L.A. moviegoers are mourning Landmark’s announcement that it will close its iconic theatre on Pico Boulevard at the end of the month. The Landmark Pico opened in 2007 as a 12-screen, multi-story theatre, and over the past 15 years, it has hosted numerous L.A. premieres and industry screenings and sold millions of movie tickets. The company cited as the reason for the closure its inability to reach an acceptable agreement to extend its lease with the building owner.
After last year’s much-publicized closures of the Pacific Theatres and Arclight Cinemas chains, Landmark’s Pico location stood as one of Los Angeles’ last art house multiplexes. Pico’s struggle to continue operating is emblematic of a nationwide trend among art houses, with an ever-increasing share of the box office from blockbuster titles driven by big-screen special effects.