In 1970, business entrepreneur Al Malmfelt purchased the theatre. It reopened a year later as a single screen cinema; specializing in hard to see films. Nearly 20 films were shown per week. The movie house showed classic films, alongside art films, foreigns, serials and controversial films. There was also a monsters at midnight film series, with the venue showing horror films. In 1976, it premiered "The Rocky Horror Picture Show". The TLA was the first theatre in Philadelphia to show this "midnight movie" which became an instant success with fans and led to weekly showings, encouraging the audience to dress as their favorite characters and return week after week.