Film
When did Scotiabank buy the Paramount?
Has the commercialization of Toronto landmarks slipped so far down the food chain that I must now bemoan the fact that the Paramount (which I already hated) has inexplicably become the Scotiabank Theatre (which I hate even more)? I remember a time when seeing a public edifice branded by the corporate gods could at least be decried on charges of tradition. This feels more like giving up McDonalds for Burger King.
At some point, Scotiabank apparently bought the former Paramount, although I didn't discover this until a few days ago when I was a remark away from screaming into my cell at the MoviePhone guy, for his refusal to acknowledge the existence of the P-diddy.
Lo, for the halcyon days of trying to keep "O'Keefe" alive in the public consciousness, or refusing to tell an out-of-towner where the "Visa Screening Room" is (just say you've never heard of it), or joking about putting an apostrophe between the R and the S on the sign atop Rogers Centre. Renaming the Paramount isn't upsetting so much as just irritating.
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So much for cultivating some real Toronto history in our landmarks. :-(
What happened here, by the way, is that Cineplex sold 'branding' rights to several of its theatres across Canada, all of the former Paramounts (Toronto, Montreal, Vancouver and Calgary) and I believe 1 or 2 other 'signature' cinemas.
Its not like any of these cinemas were particularly worthwhile architecturally, or aesthetically. Nonetheless, it does excude an exceptional degree of tackyness when you effectively sell off your own corporate brand to the highest bidder?
Can one now envision the Labatt's Sony Store? Or perhaps the Apple Loblaws? Or why not the Cineplex Sears? (they have to put their own name on something don't they?
But alas, I'm not sure what can be done about it, as legislating the name of privately owned buidlings doesn't seem all that reasonable either.
One just has to hope the disease cures itself......
(That too was a joke. In real life he's actually quite scintillating.)
They could have named the building formerly known as the Paramount something like The Richmond but they cut a deal with Scotiabank. Scotiabank is in bed with Cineplex to do some youth marketing using a loyalty points collecting scheme. Some pencil pusher probably thought it would be money well spent to brand the theater as well as the loyalty program.
The thing is, it's bad for the bank's brand. I don't want my bank to be entertaining. I don't want them to be Hollywood. I want them to trustworthy and stalwart with my money. The film industry does not convey these ideals.
The last thing I want is a "hip" bank.
I agree that banks do not equal nightclubby teen hangouts, nor should they.
And how, exactly, is "Scotiabank" Theatre better or worse than "Paramount" Theatre? Isn't, at the very least, Scotiabank a kinda, somewhat Canadian institution? Oh, and does it really matter what it's called? Corporations have been giving $ to acquire naming rights for years. Cineplex, the last time I checked, was a massive corporation with the same mindset as Scotiabank and Paramount - make money. Lots of it.
"...meet at the Scotiabank" makes no sense when trying to sort out a movie-going experience. I've already received one strange look when I asked "so, what's playing at the Scotiabank". They really need to rename it to something that works.
When you look at basically every building, it's been branded somehow. It's only when a building is <b>rebranded</b> that people get so upset about it.
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1. Stop banking at Scotiabank.
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2. Keep calling it "Paramount", nobody's forcing you to articulate "Scotiabank Theater"(in the third world, old names stick because people refuse to use new names - this is how we retain our heritage)
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3. Refuse to see movies in the new Paramount.
I hope this goes a long way in getting 14-year-old kids onto their corporate loyalty program. We sure need more more loyalty cards, especially ones with a lame name like "Scene" -- the card for those who don't participate in any scene at all.
All this bank bashing is sickening and has to stop. What those bank-bashers don't realize that the banks in this country put back into their communities by volunteering and donating hundreds of millions of dollars into worthy causes such as the United Way.
Disclaimer: these opinions are my own and not of any bank
Scotia doesn't OWN the theatre any more than Cinepex OWNED the Paramount name. It's called STRATEGIC PARTNERSHIPS and it's designed to create revenue streams so these places can remain profitable.
Where do movie theatres make most of their money??? Not on the ticket! The movie producers get the bulk of that cash. They make their money on over-priced popcorn and watery pop. NOW...do the math on how much the leasing space amounts to in downtown Toronto PLUS paying 40 people X $8 hours per hour every hour.
Scotiabank and Cineplex created a partnership through Scotiabank's SCENE program which gives you TWO FREE movies just for signing up and then discounted food and beverages. In return, the bank was given branding rights for several of the theatre's including the one in downtown Toronto. Scotiabank sees it as a business opportunity and Cineplex sees it as a business opportuntiy. The success of the program in less than 1 year is so significant that it's overtaken AIR MILES as the most popular loyalty program in the country.
The old days of just opening the doors and letting people come in to see a movie doesn't cut it in today's business world. Why do you think all the older theatres are not being re-invested with capital to improve them? Because there's no profitability in it.
Trust me, if you ever owned a business you'd welcome the same kind of partnership.