NAICS 512132 Quarterly Industry Report
Drive-In Motion Picture Theaters
Comprehensive industry research for valuation professionals, business owners, buyers, and lenders
NAICS Code: 512132Sector: Information (51)Updated: Q1 2026
About This Report
Fair Market Value compiles this NAICS 512132 industry report using data from the U.S. Census Bureau[7], the Bureau of Labor Statistics[8], and the Small Business Administration[9]. Our research team cross-references seasonal attendance figures, concession revenue ratios, and regional market data to produce valuation benchmarks specific to drive-in theaters. This report is updated quarterly to reflect current conditions in this niche segment of the exhibition industry.
Industry Snapshot
Key metrics for the drive-in motion picture theaters industry.
Industry Definition & Overview
Drive-In Motion Picture Theaters (NAICS 512132) encompasses establishments primarily engaged in operating outdoor motion picture theaters where patrons view films from their vehicles. These open-air venues typically feature large projection screens visible from parking areas equipped with individual speaker posts or FM radio transmitters that deliver audio directly to each car. Operations peak during warmer months in most regions, creating a distinctly seasonal revenue pattern that Census Bureau data[5] reflects in wide quarter-to-quarter revenue swings.
The drive-in theater model dates to the 1930s but saw dramatic decline from a peak of roughly 4,000 U.S. locations in the late 1950s to fewer than 350 active screens by the early 2020s, per industry trade group estimates. Rising real estate values, suburban sprawl, and competition from indoor multiplexes drove decades of closures. However, the COVID-19 pandemic sparked renewed consumer interest in outdoor entertainment, and many surviving drive-ins reported record attendance during 2020 and 2021.
Revenue streams extend beyond ticket sales. Concession stands generate a substantial share of total income, often exceeding 40 percent of per-patron spending. Many operators supplement film screenings with swap meets, flea markets, and live event rentals during daylight hours or off-season periods. Digital projection upgrades have replaced costly 35mm film prints at most remaining locations, reducing distribution expenses while expanding available programming. Land value often exceeds the going-concern value of the business itself, making real estate a critical factor in any valuation analysis per SBA lending guidelines[6].
What's Included in This Industry
- Outdoor motion picture exhibition from vehicle viewing areas
- FM radio and speaker-post audio delivery systems
- Concession stand food and beverage operations
- Digital and 35mm film projection services
- Double-feature and special event programming
- Seasonal and weather-dependent scheduling management
- Swap meet and flea market venue rentals
- Parking lot and screen facility maintenance
- Ticket sales through on-site booths and online platforms
- Live event hosting and private screening rentals
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 | Drive-In Motion Picture Theaters | 512132 |
Related NAICS Codes
| Code | Description | Relationship |
|---|---|---|
| 512131 | Motion Picture Theaters (except Drive-Ins) | Indoor motion picture theaters share the same exhibition business model but operate year-round enclosed venues with stadium seating |
| 512110 | Motion Picture and Video Production | Motion picture production companies create the film content that drive-in theaters license and screen for outdoor audiences |
| 512120 | Motion Picture and Video Distribution | Film distribution companies supply prints and digital content packages to drive-in and indoor theaters alike |
| 711310 | Promoters of Performing Arts, Sports, and Similar Events with Facilities | Promoters of performing arts and sports events occasionally lease drive-in facilities for live outdoor entertainment |
| 722514 | Cafeterias, Grill Buffets, and Buffets | Cafeterias and snack bars at drive-in venues generate concession revenue that parallels limited-service restaurant operations |
| 713110 | Amusement and Theme Parks | Amusement and theme parks share seasonal outdoor entertainment models with similar weather-dependent attendance patterns and peak summer revenue cycles |
Geographic Concentration
Top states by share of national establishments.
| # | State | % Est. | Total Est. |
|---|---|---|---|
| 1 | New York | 10.2% | 22 |
| 2 | Ohio | 9.3% | 20 |
| 3 | California | 8.8% | 19 |
| 4 | Texas | 8.8% | 19 |
| 5 | Pennsylvania | 8.3% | 18 |
| 6 | Indiana | 5.1% | 11 |
| 7 | Tennessee | 4.6% | 10 |
| 8 | Wisconsin | 3.2% | 7 |
| 9 | Florida | 2.8% | 6 |
| 10 | Michigan | 2.8% | 6 |
% Of Establishments
0%
10%
Source: County Business Patterns, U.S. Census Bureau[3]
SBA Lending Summary
16
Total SBA Loans
$4.5M
Total Loan Volume
$284K
Average Loan Size
17 yrs
Average Loan Term
8.13%
Average Interest Rate
0
Jobs Supported
Source: SBA 7(a) Program Data, U.S. Small Business Administration — FY 2025[4]
Key Insight: The SBA size standard[10] for NAICS 512132 is $12.5 million in average annual receipts, meaning businesses below this threshold qualify as small for federal contracting and lending purposes. Drive-in operators can access capital through the SBA 7(a) loan program[11] for equipment upgrades such as digital projection systems, or use SBA 504 loans[12] for real estate acquisition and facility improvements. Because most drive-ins are single-location family businesses with seasonal revenue under $2 million, nearly all operators fall well within the small business threshold.
Top SBA Lenders
| # | Lender | Loans | Volume | Avg Loan |
|---|---|---|---|---|
| 1 | First Community Bank | 16 | $4.5M | $284K |
Frequently Asked Questions
Common questions about this industry.
What types of businesses fall under NAICS 512132?
NAICS 512132 covers establishments that operate outdoor motion picture theaters where audiences watch films from parked vehicles. This includes traditional drive-in cinemas, temporary pop-up outdoor screening venues, and seasonal open-air film exhibition operations.
How is NAICS 512132 different from 512131?
NAICS 512131 covers indoor motion picture theaters with enclosed auditoriums and fixed seating, while 512132 is limited to outdoor drive-in facilities where patrons remain in their vehicles. The key distinction is the open-air, vehicle-based viewing format versus indoor exhibition, according to the U.S. Census Bureau[13].
What is the SBA size standard for drive-in motion picture theaters?
The SBA sets the size standard for NAICS 512132 at $12.5 million in average annual receipts over the preceding five fiscal years. Businesses below this threshold qualify as small businesses for federal lending and contracting programs, per the SBA size standards table[10].
What NAICS codes are related to drive-in theaters?
Closely related codes include 512131 (indoor motion picture theaters), 512110 (motion picture production), 512120 (film distribution), and 711310 (promoters of performing arts and sports events). Each represents a different segment of the entertainment value chain that overlaps with drive-in operations.
What industries are closely related to drive-in cinemas?
Drive-in theaters share market dynamics with indoor cinemas (512131), film distribution (512120), and amusement parks (713110) that face similar seasonal attendance fluctuations. Real estate valuation (531120) is also closely tied to drive-in operations because the underlying land often carries development value.
What activities are included in drive-in theater operations?
Operations include outdoor film projection, FM and speaker-post audio delivery, concession stand management, digital content licensing, event hosting, and facility maintenance. Many drive-ins also host flea markets, swap meets, and private events during non-screening hours, according to the United Drive-In Theatre Owners Association.
Can drive-in theater owners get SBA loans?
Where are drive-in theaters concentrated in the United States?
Drive-in theaters are most common in rural and suburban areas of the Midwest, South, and Northeast where land costs remain lower and population density supports seasonal attendance. Pennsylvania, Ohio, and New York rank among states with the highest drive-in counts, per data from the Census Bureau's County Business Patterns[14].
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]SBA lending guidelines sba.gov
- [7]U.S. Census Bureau census.gov
- [8]Bureau of Labor Statistics bls.gov
- [9]Small Business Administration sba.gov
- [10]SBA size standard sba.gov
- [11]SBA 7(a) loan program sba.gov
- [12]SBA 504 loans sba.gov
- [13]U.S. Census Bureau census.gov
- [14]Census Bureau's County Business Patterns census.gov
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