Hans-Sachs-Str. 7
Munich Isarvorstadt
U-Bahn U-1 or U2 to Fraunhoferstrasse
Tel. 089 2603265
http://www.arena-kino.de
The Neues Arena is a very un-hyped cinema and one you probably won't hear mentioned by friends very often. They have just one theatre which seats about 110 people. They also generally show the non-blockbuster films as well as films that may have been big a few years ago and have now acheived some kind of cult status. I'm thinking stuff along the lines of "The Big Lebowsky" or anything by Woody Allen.
They take reservations in advance over the phone. And for the more popular cult films reservations are highly recommended. Even if you've reserved it's also recommended to turn up early because the seats are not allocated and there is generally a rush for the best spots.
The popular thing to do at Neues Arena is to get there about 30 minutes in advance and stand around in the foyer drinking bottled beer and pretending you're really cool because you've come to see the latest "insider" film in a foreign language (which you likely don't even understand). Get there later and you'll probably find yourself having to sit separate from your friends and in seat 1a with your nose to the screen. If there's a large group of you it's probably best to do as the Germans do: send one of your party along 1 hour in advance with a whole bunch of coats, jumpers, and handbags. Let them grab the best seat and reserve the entire row until you get there (annoying the hell out of everyone else in the process).
One more thing. If you're going to see a comedy be prepared to have to tolerate Germans laughing in all the wrong places.