In regards to theaters being a "special occasion", I am not sure where you live but here in the US we have "monthly subscriptions" for movie theaters. For example, for ~25$ a month I can sign up for AMC Stubs A-List which allows me to see three films a week in any format I want (standard def, IMAX, Dolby Premium, 3D or whatever else they have) each week for the month. (Thats typically 12 films a month). This is unbelievable value, yet even to this day I see theaters are flat out empty with the exception of Superhero films and established franchises (eg. James Bond). I can't tell you how many films I have seen this year (since getting vaccinated) where I was literally the only one in the theater. For one film I discovered there is a regular light switch that controls the lights in the theater and so I watched the film with the lights on ha ha!
I think movies and ;possibly "old media" are just failing for peoples attention in favor of things like Youtube/Instagram/Twitch etc. After all there are 24 hours in a day and no way to expand that so everyone has to compete by taking away some time spent on existing forms of media.