I'd say that the basement home theatre died in Greenwich at least a decade ago (right around the time when whirlpool tubs went down the drain)

The tombs were alive, with the sound of music — no more

The tombs were alive, with the sound of music — no more

WSJ: The new mansion must: a media room.

There was a time when custom luxury homes proved their bona fides with lavish home theaters—typically found in the basement and outfitted with forward-facing seats, fabric walls for soundproofing, a projector for cinema-style viewing and maybe a “Godfather” or “Batman” poster to round out the theme.

Today, homeowners are coming out of the dungeon.

Home theaters are increasingly being replaced with multi-function media rooms—lounge-style spaces located in or near the main living areas. Here cozy couches, tables and chairs are arranged to facilitate TV and movie watching, as well as game night, cocktails, homework and hanging out. And all that A/V equipment? It’s nearly invisible.

There’s probably a way around the Journal’s cash wall, but this snippet conveys the brunt of it: people don’t want to huddle down in a dark basement to watch movies anymore, and space devoted to such an entertainment is wasted, and adds nothing of value.