Ryde's Commodore is one of 19 independent UK cinemas to benefit from the latest round of Culture Recovery Grant funding.
The High Street cinema, which first opened in 1936 and is now run by Leo Leisure, has received £28,667 in Government funding.
It means a total of £517,931 has now been handed out to groups and businesses working in the cultural sector on the Island.
As Isle of Wight Radio previously reported, among those receiving grants are the company behind this summer's "Jack Up The Summer" festival and Spotlight IOW Limited.
Dame Judi Dench, who filmed Victoria and Abdul at Osborne House on the Isle of Wight, said:
“Local cinemas are a vital part of our cultural lives, enthralling us with films about lives that we recognise as well as offering us stories about other cultures from around the world.
"They are places where people come together for a shared experience and have inspired many to make their careers on screen. We need to make sure that generations today and in the future have the same opportunities to enjoy and take part in the communal big screen experience.”
The Oscar-winner is the patron for Britain’s oldest cinema, East Finchley’s Phoenix Cinema, which has been given £138,333.
In total, 209 independent cinemas have been supported by the Culture Recovery Fund since the first round of funding was rolled out.
Culture Secretary, Oliver Dowden, said:
“Our record breaking Culture Recovery Fund has already helped thousands of culture and heritage organisations across the country survive the biggest crisis they've ever faced.
“Now we’re staying by their side as they prepare to welcome the public back through their doors - helping our cultural gems plan for reopening and thrive in the better times ahead.”
As part of Prime Minister Boris Johnson's roadmap, cinemas are allowed to reopen again from no earlier than May 17.
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