 The building and the theatre within has changed ownership several times , and its fortunes have largely depended on the current state of the Canadian theatre industry . It spent a dozen years as a retail space from 1958 – 1970 , and six years from 1970 @-@ 1976 mainly exhibiting mainstream pornographic films . The Princess was operated successfully as a repertory theatre from 1978 to late 1996 , after which it became a first run theatre . Until 2016 , the Princess was operated as a first run theatre by Edmonton ’ s native Magic Lantern Theatres . From January of 2016 the Cinema is being operated by Plaza Entertainment . 
