I've probably seen at least 20 movies this year. The only time the theater was close to full was for Judas and the Black Messiah the weekend before the Oscars.
Regarding stage shows, Steppenwolf was less than half full for the excellent School Girls about 4 weeks ago. My partner and I saw a very good production of Kinky Boots on Sunday evening at the Paramount in Aurora (a western suburb of Chicago) -- again less than half full. Very elaborate production, beautifully acted, almost as good as Broadway.
A week and a half ago we saw a small non-equity production of Heathers at the Edge Theatre in Chicago. It was OK, but not great. The girl who played Veronica was fine and the guy who played Kurt was hot. Unfortunately much of the cast was sub-par. However, the performance was completely sold out and they even had a cancelation line.
All 3 shows were done by non-profits. I'm not worried about Steppenwolf, but a big theater like the Paramount won't be able to survive with less than 50% seats sold.