The Michelle Payne biopic Ride Like A Girl will no longer be shown at an independent cinema in Melbourne's north following the ABC's investigation into the fate of retired racehorses that caused shockwaves ahead of the Spring Carnival.

The feature film, directed by award-winning actor Rachel Griffiths and starring Sam Neill, claimed the top spot at the local box office in its first week and is positioned to become the highest-grossing Australian film in 2019.

'Ride Like a Girl' tells the story of Michelle Payne, the first female jockey to win the Melbourne Cup.

Thornbury Picture House owner Gus Berger said he had pre-sold more than 50 tickets to two sessions but decided to cancel the screenings after seeing the "extremely disturbing" footage aired last Thursday.

"I felt that I couldn't show the film without being really conflicted about what was going on in the racing industry and how much it still needs to change," he said.