AUSTIN – One of the co-founders of the Alamo Drafthouse is holding a movie poster auction to help raise money during the COVID-19 pandemic and pay staff members and the cinema’s debt.
Tim League, the cinema’s co-founder and executive chairman, decided to host the first-ever auction from his personal collection of nearly 2,000 Mondo limited edition prints, including posters no longer available.
The auction will kick off on Nov. 29 and will close on Dec. 13. The company said 100% of the poster sale proceeds would go towards paying staff, paying debt and expenses accrued during the COVID-19 closures.
League said the next four to six months are critical toward the company’s financial stability.
“Cinemas across the country are facing extraordinarily financial hardships. We are legally unable to open many of our venues, where we can open capacity is significantly reduced, our product —the supply of blockbuster films— has evaporated, and our debt from accrued rent during closure continues to mount,” League said. “We are therefore looking for unique ways to stay afloat and survive until normalcy returns. I am personally reaching out to our film-loving communities and asking for assistance.”