Well Falcone calls him Zorro,
So Zorro is an acknowledged known (movie / literary)
character in universe.
So the theater(if that's the case) they were coming form, still likley could have been a Zorro movie revival.
There are groups and theaters which do "silent" theater revivals with live orchestras -
The Mark of Zorro — Not So Silent Cinema
And not surprisingly the movie still holds up, almost everything we see today in modern superhero films, was already established there. So yeah even a kid today could be inspired.
Besides just being a throw away easteregg, while it's not at all necessary to the plot or character, if you want you can read even further into it.
Implication being if Falcone is the one who set up Bruce's parents to be killed, he would have known where they and young Bruce were the night of their murder.
Falcone's implied reference, could have even been letting Batman know, he knows.