00:00Many thanks to all of you who supported the Grand at Normandy.
00:03It's a truly special evening at UGC Normandy.
00:06Thank you to our incredible protectionists.
00:15Over 600 people came to pay tribute to what has long been called the most beautiful cinema in France.
00:22I came to say goodbye because I know this is the last time I'll get to see a movie in this place.
00:26So it was now or never.
00:28Words of love and farewell marking the end of an era for this legendary cinema of the Champs-Elysées.
00:36After 87 years of existence, the cinema is no longer profitable.
00:43There's been a decline in the numbers of viewers coming to the Champs-Elysées.
00:47Also luxury brands are taking over.
00:49They're increasing the avenue's prices which means the rents keep going up.
00:53The luxury boutiques mainly cater to tourists.
01:00Meanwhile, Parisians increasingly flee the avenue.
01:04Facing criticism for not capping rising rents, the mayor of the 8th arrondissement
01:09explained its buildings do not belong to the city but to private investment funds.
01:15It's not up to us to impose our will and negotiate.
01:19It's up to groups like UGC to try and find a way to negotiate lower rents.
01:26The last two decades have seen the Champs-Elysées' cultural sites
01:29closing one after the other.
01:31Of the 20 cinemas once on the avenue, only one remains today.
