Cinemas have been systematically gone out of business over the last two decades. Even the fairly new complexes (?) have run into financial trouble (Village Recoleta, etc.). Going to the movies is expensive.
Too small an audience, rising costs of operation and at a later date the availability of home theaters, better and larger TVs, the interwebs and easily available bootlegs. Even the once familiar video rental stores have been almost anihilated.