MultiCine at 2631 Avenida Arce (a couple of blocks south of Plaza Isabel de Catholica) this is a brand new multiplex cinema with 1 3D screen. Currently (Dec 2009) still being built so don't be scared off by the building site appearance, it is open for business and shows current hollywood blockbusters.
The Cinemateca Boliviana (Guachalla and Federico Suazo Sts) recently opened and is the newest and most modern movie theater in the city. You can see new mega-releases as well as local films and international festivals.
Try Monje Campero at the beginning of Av.16 de julio.
Also you can go to 16 de Julio near to Plaza del Estudiante.
Despite the best efforts to censor it Cine Azul (Latin America's premier underground bluey showhouse) is still up and running at the beginning of Av.16 de julio. The steam is literally dripping off the walls! (Amongst other things)
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