Philip Smith (born May 10, 1899; died July 13, 1961) was an American businessman and founder of Midwest Drive-In Theaters (which later became General Drive-In Corporation and then

General Cinema General Cinema Corporation, also known as General Cinema, GCC, or General Cinema Theatres, was a chain of movie theaters in the United States. At its peak, the company operated about 1,500 screens, some of which were among the first theaters ce ...

) who was one of the largest operators of

drive-in movie theaters A drive-in theater/theatre or drive-in cinema is a form of cinema structure consisting of a large outdoor movie screen, a projection booth, a concession stand, and a large parking area for automobiles. Within this enclosed area, customers can ...

in the United States.

Biography

Smith worked as a

Pathé Frères Pathé SAS (; styled as PATHÉ!) is a French major film production and distribution company, owning a number of cinema chains through its subsidiary Pathé Cinémas and television networks across Europe. It is the name of a network of Fren ...

salesman.Los Angeles Times: "General Cinema More Wall St. Than Hollywood : Investments Pay Off Handsomely for Bottler and Theater-Chain Operator" by Kathryn Harris
August 11, 1985 In 1922, he purchased the National Theatre restoring it to profitability by reducing ticket prices from 25 cents to 10 cents.Harvard Business School Lehman Collection "GC Computer Corporation"
retrieved September 25, 2017 Smith named his new company Philip Smith Theatrical Enterprises in Boston and expanded by purchasing smaller theaters throughout New England. His portfolio reached about 25 theaters until the

Great Depression The Great Depression was a severe global economic downturn from 1929 to 1939. The period was characterized by high rates of unemployment and poverty, drastic reductions in industrial production and international trade, and widespread bank and ...

hit when he was forced to slowly sell nearly all his theaters to support his family (he only kept three). In 1935, in order to benefit from the increase in automobile ownership, he took a risk and opened drive-in theaters in

Cleveland Cleveland is a city in the U.S. state of Ohio and the county seat of Cuyahoga County. Located along the southern shore of Lake Erie, it is situated across the Canada–U.S. maritime border and approximately west of the Ohio-Pennsylvania st ...

and

Detroit Detroit ( , ) is the List of municipalities in Michigan, most populous city in the U.S. state of Michigan. It is situated on the bank of the Detroit River across from Windsor, Ontario. It had a population of 639,111 at the 2020 United State ...

; and by the time

World War II World War II or the Second World War (1 September 1939 – 2 September 1945) was a World war, global conflict between two coalitions: the Allies of World War II, Allies and the Axis powers. World War II by country, Nearly all of the wo ...

started, he operated nine of the 15 drive-in theaters in the United States.Daytona Beach Sunday News-Journal: "Top Firm Managing Cinema"
January 11, 1961 At his drive-ins, children entered free and there were playgrounds to help make it a family friendly event. His investment paid off grandly during the post-war boom. In 1946, his son Richard Alan Smith joined the company. In 1947, he was one of the first to open a theater in a shopping mall in

Framingham, Massachusetts Framingham () is a city in the Commonwealth (U.S. state), Commonwealth of Massachusetts, United States. Incorporated in 1700, it is located in Middlesex County, Massachusetts, Middlesex County and the MetroWest subregion of the Greater Boston ...

. By the 1950s, the Midwest Drive-In Theatres operated 53 drive-ins; and he branched out into other lines of business including the ''Richard's Drive-Ins'' restaurant chain, ''Amy Joe's Pancake Houses'', and several bowling alleys in order to diversify his revenues which were under pressure as more people stayed home to watch television. In 1960, the company changed its name to General Drive-In Corp and went public on the

New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City. It is the List of stock exchanges, largest stock excha ...

although Smith retained a controlling interest.Funding Universe: "GC Companies, Inc. History"
retrieved September 26, 2017 Smith died in 1961 and his son succeeded him as CEO; his son changed the name to

in 1964. Smith is considered one of the fathers of Jewish philanthropy in Boston during the 1940s when he joined Combined Jewish Philanthropies of Boston in assisting Jewish immigrants, resettling refugees, and helping to

establish Establishment may refer to: * The Establishment, a dominant group or elite that controls a polity or an organization * The Establishment (club), a 1960s club in London, England * The Establishment (Pakistan), political terminology for the military ...

Israel.

References

{{DEFAULTSORT:Smith, Philip 1961 deaths Businesspeople from New York City American business executives American people of Jewish descent Year of birth missing Smith family (theaters)