The film successfully evokes the tension that was felt by people during the Cuban Missile Crisis so air raid drills and considerable conversations about the effects of nuclear war are depicted. The film generally shouldn't scare children but, a nightmare about an atomic explosion could bother some of them.
The ant monster might scare super sensitive kids but not most.
Some suspense involving the balcony collapse.
Overall, Matinee is an excellent film for family viewing and should be seen by anyone who loves the movies.