Giant TVs are cheap relative to the average high income country, why pay $11 USD to see a movie with a bunch of other people, outside having a bunch of kids you need to distract for an hour and a half (the big theater hits were mostly kids movies this year), when you can get the same experience in the convenience of your own house for cheaper?
If movie theaters want to survive they need to do what they did back when TV was first invented, offer an experience you can't get in your home. Back then TV pushed movies to go wide screen and "big", offering an obvious difference to the small little square screen in your home, and it worked for decades until technology caught up. Some new technology, like holographic movies or some similar cool thing, that you could get in a theater but not at home (for a while) would need to be ginned up for movie theaters to survive. A reason, in short, to go all the way to a theater and spend that $11 per person needs to appear.