To me it's not a very good first date unless you save that for the latter part of the date.
Starting off with a movie of any sort for a first date means you two are going to spend most of your time looking up at a screen. Since it's a first date you two might not yet be comfortable enough around each other to touch each other and hold each other.
It does give you something to talk about afterwards but that's around a couple of others you could have otherwise spent bonding.
If you are intent on the movie I think it's nice if you at least spend some time strolling around, talking, getting comfortable around each other in close physical proximity (side-by-side walking, sitting right next to each other, etc) beforehand so that you two are already very comfortable with each other by the time the film begins.
And ideally you have quite a bit of time to spend together after the film ends so that you can talk about it and warm up to each other more.
Pros -Really easy to get close cuddly -Sort of puts you or him in a vulnerable position to trust each other if you get scared maybe -Cliche so very 'date' like. This is a date and its obvious
Cons - off the bat, its a movie. So if you don't already know him a movie is usually a negative - might open the door for too much physical contact early on - risk of popcorn falling all over someone when you accidentally throw it all up in the air