Oxford's Ultimate Picture Palace is a key feature of the local cultural landscape - a thriving Art Deco cinema that curates listings in a truly independent style, hosting everything from specialist festivals and cult classic screenings to the latest releases. But now the cinema is facing it's very own epic storyline following the death of owner Becky Hallsmith - and the UPP's final outcome depends on us, the people of Oxford. We caught up with them to find out more about the Lights, Community, Action! campaign for community ownership:
Daily Info: Community ownership sounds exciting – but what does it actually mean?
UPP: Literally that – anyone over 16 can buy shares in the cinema and so own a little piece of it. Everyone who buys a share will be a Member and be able to vote at the Annual Members Meeting. That’s where shareholders will elect a Management Committee who will oversee the running of the cinema. They can also stand for election to serve on the Management Committee and have a direct say on how the cinema develops.
Also, the vision of UPPCC is that it will be a venue to serve its diverse, vibrant community, working together with local community groups and establishments, with a mission to inspire, educate and entertain – these will be more important than profit and popcorn sales, and will help it stay a thriving and viable business.
How would community ownership of the UPP benefit local people?
First of all, it would ensure that the UPP remains a cinema. If we don’t raise enough for the community to buy the cinema, it will probably have to be sold on the open market. Then it could be bought by a big cinema chain or be turned into something else completely, and we’d lose our local independent cinema that everyone loves so much.
Second, the community shareholders will have a say in how the cinema is run, as we’ve said. They’ll be able to make sure that the cinema plans its programme and events as ones that are really exciting, relevant and stimulating for the people who come to enjoy the cinema.
Do you need to have lots of money to get involved?
No! Shares are only £1 each. The minimum amount to invest is £50, but there’s a discounted minimum of just £30 if you live locally, or if you’re under 30. You can apply for tax relief too! And however many shares you buy, you’ll have one vote, so people who buy just a few shares can’t be outvoted by people who can invest a lot (though they are very welcome too invest more money, of course). We’re already well over half way there with about 6 weeks to go. Over 600 people have invested, and most of those have chipped in modest amounts – every contribution takes us closer to being able to buy the UPP and make it a real asset owned by the community.
Is there anything else local people should know about this campaign?
You can find out more by following the links at the UPP webiste or our Community Benefit Society site. Here you can read our Share Offer Document and a detailed Business Plan with financial projections. You’ll see that our share offer has been awarded the Community Shares Standard Mark. This is awarded to share offers that meet national standards of best practice after a rigorous assessment. We had to meet demanding criteria and demonstrate that our plan is clear, transparent and honest, and gives you all the information you need to make an informed decision.
What we should also make sure people are aware of is that The Ultimate Picture Palace business is not for sale because it’s struggling. It’s sadly due to the untimely death of its owner Becky Hallsmith. The business itself has never been stronger. It was always her wish that the cinema would be community owned so it feels like the natural progression to honour her – and indeed our wishes as a community who love the cinema. So having that in mind, people will be investing in a very strong and successful business. The team Becky left in place back in 2018 have more than proved their ability to run the cinema during some of the most challenging years for any business.
One other thing, the campaign runs until 1st July, and we’ve got more special events coming up in celebration of this campaign. You can see them in the latest issue of our programme or on our website.
And please contact us if you have any questions at [email protected] or 07873 596846. See www.uppcinema.com/owntheupp for more info.
