NAICS 512131 Quarterly Industry Report
Motion Picture Theaters (except Drive-Ins)
Comprehensive industry research for valuation professionals, business owners, buyers, and lenders
NAICS Code: 512131Sector: Information (51)Updated: Q1 2026
About This Report
This NAICS 512131 industry profile draws from Census Bureau[5] establishment and employment data, Bureau of Labor Statistics[6] wage statistics for motion picture exhibition workers, and SBA[7] size standard thresholds. Fair Market Value updates this report quarterly, monitoring box office trends, per-screen revenue, and theater renovation investment that affect business valuations. Our research team tracks screen counts and premium format adoption rates to provide NAICS 512131 valuation professionals with current operating benchmarks.
Industry Snapshot
Key metrics for the motion picture theaters (except drive-ins) industry.
Industry Definition & Overview
Motion Picture Theaters (NAICS 512131) encompasses establishments primarily engaged in operating indoor motion picture theaters and exhibiting motion pictures or videos at film festivals. This industry excludes drive-in theaters, which are classified separately under NAICS 512132. Theater operators range from large multiplex circuits with 20+ screen locations to single-screen independent cinemas in small towns and urban neighborhoods.
Approximately 3,436 business locations operate in this industry, employing over 152,000 workers. Census Bureau data[5] shows revenue comes from two primary sources: ticket sales (box office) and concession income, with concessions generating significantly higher profit margins than admissions. Premium formats including IMAX, Dolby Cinema, 4DX, and luxury recliner auditoriums command higher ticket prices and drive theater renovation investment. Annual admissions in the U.S. have fluctuated significantly, with recovery from pandemic-era closures still shaping attendance patterns.
Bureau of Labor Statistics[6] data shows theater employment is heavily part-time, with ushers, ticket sellers, and concession workers forming the majority of the workforce. General managers and projection technicians represent a smaller full-time segment. Revenue-sharing agreements with distributors typically give studios a higher percentage of opening-week box office receipts, with the exhibitor share increasing over a film's run. Real estate costs, including rent and property taxes for high-traffic retail locations, represent the single largest fixed expense for most theater operators.
What's Included in This Industry
- Operating indoor multiplex and megaplex cinema facilities
- Single-screen and art-house theater operations and programming
- Premium format exhibition including IMAX, Dolby Cinema, and 4DX
- Luxury dine-in cinema operations with food and beverage service
- Concession stand operations selling snacks, beverages, and merchandise
- Film festival exhibition and special screening event management
- Private theater rental for corporate events and private screenings
- Digital cinema projection system operation and maintenance
- Loyalty program and subscription ticket plan administration
- Alternative content exhibition including live sports and concert broadcasts
NAICS Classification Hierarchy
| Level | Description | Code |
|---|---|---|
| Sector | Information | 51 |
| Subsector | Motion Picture and Sound Recording Industries | 512 |
| Industry Group | Motion Picture and Video Industries | 5121 |
| NAICS Industry | Motion Picture and Video Exhibition | 51213 |
| National Industry | Motion Picture Theaters (except Drive-Ins) | 512131 |
Related NAICS Codes
| Code | Description | Relationship |
|---|---|---|
| 512132 | Drive-In Motion Picture Theaters | Drive-in motion picture theaters operating outdoor exhibition venues with vehicle-based viewing, classified separately from enclosed indoor cinema operations |
| 512120 | Motion Picture and Video Distribution | Motion picture distribution firms that supply films to theater operators and negotiate box office revenue-sharing terms determining exhibitor income per title |
| 512110 | Motion Picture and Video Production | Motion picture production companies that create theatrical content exhibited by cinema operators, with major studio releases driving the bulk of box office revenue |
| 516210 | Media Streaming Distribution Services, Social Networks, and Other Media Networks and Content Providers | Streaming distribution services that compete with theatrical exhibition by offering direct-to-consumer content, pressuring traditional release window structures |
| 711110 | Theater Companies and Dinner Theaters | Theater companies and dinner theaters providing live entertainment that competes for the same leisure spending as motion picture exhibition in local markets |
| 711130 | Musical Groups and Artists | Musical groups and artists performing live events that theaters screen as alternative content, generating non-film exhibition revenue for cinema operators |
Geographic Concentration
Top states by share of national establishments.
| # | State | % Est. | Total Est. |
|---|---|---|---|
| 1 | California | 12.3% | 510 |
| 2 | Texas | 8.2% | 340 |
| 3 | New York | 5.6% | 232 |
| 4 | Florida | 5.0% | 207 |
| 5 | Illinois | 3.6% | 149 |
| 6 | Michigan | 3.3% | 136 |
| 7 | Pennsylvania | 3.1% | 131 |
| 8 | Washington | 3.0% | 125 |
| 9 | Ohio | 3.0% | 123 |
| 10 | North Carolina | 2.8% | 117 |
% Of Establishments
0%
12%
Source: County Business Patterns, U.S. Census Bureau[3]
SBA Lending Summary
112
Total SBA Loans
$50.7M
Total Loan Volume
$453K
Average Loan Size
9 yrs
Average Loan Term
10.09%
Average Interest Rate
3,128
Jobs Supported
Source: SBA 7(a) Program Data, U.S. Small Business Administration — FY 2025[4]
Key Insight: Under SBA size standards[7], NAICS 512131 businesses qualify as small with average annual receipts up to $47 million. Theater operators can access SBA 7(a) loans[8] for auditorium renovation, premium format installation, and working capital. The 504 loan program[9] supports acquisition of theater real estate, projection equipment, and building improvements for luxury recliner conversions. Independent theater owners frequently use SBA financing for digital projection upgrades and premium format installations that improve per-screen revenue.
Top SBA Lenders
| # | Lender | Loans | Volume | Avg Loan |
|---|---|---|---|---|
| 1 | Associated Bank, National Association | 8 | $18.8M | $2.4M |
| 2 | First Bank | 8 | $11.8M | $1.5M |
| 3 | Climate First Bank | 8 | $8.0M | $998K |
| 4 | FFB Bank | 8 | $5.6M | $700K |
| 5 | Northeast Bank | 32 | $2.8M | $89K |
Frequently Asked Questions
Common questions about this industry.
What types of businesses are classified under NAICS 512131?
Multiplex cinema chains, independent movie theaters, art-house cinemas, luxury dine-in theaters, and film festival exhibition operators are classified under NAICS 512131. Drive-in theaters are separately classified under NAICS 512132[10].
How is NAICS 512131 structured within the Information sector?
NAICS 512131 falls within Subsector 512 (Motion Picture and Sound Recording Industries), specifically under Industry Group 5121 (Motion Picture and Video Industries). It sits alongside production (512110), distribution (512120), drive-in theaters (512132), post-production (512191), and other video industries (512199).
What is the SBA size standard for NAICS 512131?
The SBA size standard[7] for NAICS 512131 is $47 million in average annual receipts. This is one of the higher thresholds in the Information sector, reflecting the capital-intensive nature of theater real estate and premium format investment.
What NAICS codes are most closely related to 512131?
Related codes include 512132 (Drive-In Motion Picture Theaters), 512120 (Motion Picture Distribution), 512110 (Motion Picture Production), 516210 (Media Streaming Services), and 711110 (Theater Companies). These codes collectively cover the entertainment content supply and exhibition chain.
What industries have the strongest business relationships with movie theaters?
Film distributors (512120) supply content and determine revenue splits. Production studios (512110) create the tentpole releases that drive attendance peaks. Streaming platforms (516210) increasingly compete for both content and audience. Bureau of Labor Statistics[6] data covers exhibition employment, which is heavily part-time and seasonal.
What activities are included in NAICS 512131?
Included activities cover indoor film exhibition, concession sales, premium format screenings (IMAX, Dolby), luxury dine-in operations, private rentals, alternative content broadcasts, loyalty programs, and film festival screenings. Drive-in theaters are excluded per Census Bureau[11] and classified under NAICS 512132.
Are NAICS 512131 businesses eligible for SBA loans?
Where are NAICS 512131 businesses geographically concentrated?
Movie theaters distribute broadly across populated areas, with the highest screen densities in major metropolitan suburbs. Texas, California, Florida, and New York lead in total screen counts per Census Bureau[5] establishment data. Urban and suburban retail centers with high foot traffic support the most profitable locations.
Sources & References
Government datasets and editorial sources used in this report.
- [1]U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages bls.gov
- [2]U.S. Census Bureau, Economic Census census.gov
- [3]U.S. Census Bureau, County Business Patterns census.gov
- [4]U.S. Small Business Administration, SBA 7(a) Loan Program Data data.sba.gov
- [5]Census Bureau data data.census.gov
- [6]Bureau of Labor Statistics bls.gov
- [7]SBA sba.gov
- [8]SBA 7(a) loans sba.gov
- [9]504 loan program sba.gov
- [10]NAICS 512132 census.gov
- [11]Census Bureau census.gov
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