Disney has officially pulled their 20th Century Studios’ features Free Guy and Death on the Nile off the December calendar, leaving a grim immediate future in place for exhibition which was praying to make buck on a holiday moviegoing season. This leaves Warner Bros.’ Wonder Woman 1984 left standing on Dec. 25, however, everyone with a brain is betting that
Exhibition
Not to send everyone screaming for the exits, but it wouldn’t be out of the question if Warner Bros. moves Wonder Woman 1984 off its Christmas Day global theatrical release. Facts are facts whether former Vice President Joe Biden takes the U.S. Presidency tomorrow night or if President Donald Trump continues: New York City and Los
The nation’s fourth-biggest cinema chain Marcus Theatres saw revenue plunge and swung to the red last quarter, beating Wall Street forecasts, however and emphasizing solid financials underpinned by the fact that it owns most of its theatres. Family-owned Marcus, based in Milwaukee, owns or operates 1,110 screens at 91 locations in 17 states under the
European cinema trade body UNIC has today renewed its call to national governments for further public funding support of the exhibition industry during the COVID-19 crisis. UNIC says the current situation is “undeniably the most challenging period faced by European cinemas in their long history,” and adds that the coronavirus pandemic “has dealt the sector
AMC Entertainment said revenue for the September quarter plunged 91% to $119 million. Losses widened to $905 million from $54 million as the financially strapped exhibitor struggles with the impact of the global pandemic. The financially struggling chain’s COVID trials have been high profile and heavy hitting because of its size — the biggest chain
AMC CEO Adam Aron channeled Winston Churchill Monday, comparing the exhibition industry’s last stand against COVID-19 (and Chapter 11) to the U.K.’s fight for survival during World War II. Wall Street analysts on a conference call were too polite to bring up the word bankruptcy directly, nor did Aron. He said again that the chain
IMAX today reported third quarter earnings for the period ended September 30. Revenues were $37.3M versus $86.4M in the third quarter of 2019, largely impacted by the global COVID-19 pandemic. The result is, however, much better than Q2 which saw revenues of just $8.9M. In part that’s down to the resurgence of moviegoing in Asia.
Shares in IMAX were down in pre-market trading this morning after the company announced its Q3 results, which included a loss of $47.2M on revenues of $37.3M. As of 10AM ET, they were down 4.92%. CEO Rich Gelfond, however, remains bullish on the theatrical business and the company’s future health. “Our financial position gives us
As expected, German Chancellor Angela Merkel has ordered the closing of all cinemas in the country as part of sweeping lockdown measures designed to stem an alarming rise in the country’s COVID infection rate. The CEO of Germany’s primary cinema organization HDF Kino on Wednesday said she was “stunned” by the move and warned theaters
France is now set to enter a second lockdown phase from tomorrow night and for five weeks as coronavirus cases continue to escalate. French President Emmanuel Macron made the announcement in an address to the nation this evening. Movie theaters were not explicitly cited, but will clearly be included in the off-limit zones, dealing a
Despite the firm response earlier this month from the National Association of Theatre Owners of California/Nevada to not reopen cinemas in San Francisco county given its concession ban, major circuits like Cinemark and AMC have taken an about face this week. Now opening a movie theater without the means of selling popcorn and soda is
Paramount has shifted the release date of its animated feature Rumble to May 14, 2021, pushing it further back from its previous January 19, 2021 date. Paramount Animation and WWE Studios are teaming on the pic, which is directed by Hamish Grieve and originally was slated for a summer 2020 bow before the exhibition business
Exhibitors got another setbacks today as MGM/United Artists Releasing has delayed the release of the Aretha Franklin biopic Respect, starring Jennifer Hudson, from January 15 to August 13. MGM also has pulled its Tomb Raider sequel starring Alicia Vikander and Kristin Scott Thomas from its March 19 premiere date; that film now is unset. Respect initially
Studio Movie Grill, the in-theater dining chain with seven California locations has filed for bankruptcy, one of the first leading exhibitors to officially buckle under pandemic-related financial stress. The Dallas-based company filed for Chapter 11 in U.S. Bankruptcy Court for the Northern District of Texas. It will continue to operate but reorganize with the protections
The nation’s third largest cinema chain Cinemark said Monday it will open a San Francisco multiplex and locations in Santa Clara County on Oct. 30 with no concessions in a nod to local restrictions. The move, including of the Century San Francisco Centre 9 and XD, follows plans to open five of its Alameda County
As COVID-19 cases spike, Europe is once again taking serious measures to curb the virus’ spread. After initially shuttering its movie theaters in late February and then reopening in June, Italy is now set to close cinemas once again from tomorrow. At the same time, Spain has approved a new national state of alarm and
What a great time not to be a movie marketer. Theaters half-closed, with COVID-19 again rising. Pipeline dried up. Academy of Motion Picture Arts and Sciences asking, in a survey that was due last week, how the pandemic is affecting your craft. Or what’s left of it. But movie promoters on the whole are an
A government-mandated curfew that was set in place in France last week has been widely extended across the country, and will come into effect from Friday night. An estimated 46M people (69% of the population) will be impacted by the new measures announced by Prime Minister Jean Castex this evening. Residents of the 54 total
John Stankey, CEO of WarnerMedia parent AT&T, said productions – with about 130 underway since last week – are up and running but “the question is, what does exhibition look like?” “We don’t have great visibility on that,” Stankey said, speaking on a conference call after the telco, cable and media entertainment giant reported third-quarter
Two weeks after Cineworld announced the closing of its U.S. 536 Regal Cinemas chain, the circuit is reopening 11 locations in New York this Friday, Oct. 23 following Governor Andrew Cuomo’s recent approval to reopen movie theaters in the Empire State. The 11 Regal sites join the chain’s seven California multiplexes which continue to stay
Sony Pictures said Wednesday that it has moved the release date of Ghostbusters: Afterlife from March to June 11, 2021, which will be the same weekend as the first Ghostbusters film was released in 1884. It becomes the latest tentpole shift in the theatrical calendar given the ongoing restrictions of movie theaters amid the pandemic.
AMC Entertainment will resume operations at a dozen theaters in New York State October 23 in accordance with Gov. Andrew Cuomo’s recent, welcome reopening announcement over the weekend that, however, still excluded New York City and a handful of other counties. NY is “vital to the theatrical exhibition industry,” the world’s largest chain said Monday.
The association of theater owners, NATO, called on Congress Tuesday to get an aid package approved, saying exhibitors are desperate for help. It’s begged for help before. Now Senators Schumer, Cardin and Shaheen have included relief for movie theaters as part of the Save Our Stages initiative, which is included in the COVID relief bill
AMC Entertainment expects revenues for the three months ended September 30 of $119 million versus nearly $1.32 billion for the year earlier quarter and the struggling theater anticipates material write-downs of assets, according to an SEC filing Tuesday morning with preliminary financial results. Cash and cash equivalents stood at $417.9 million. The company also said
New York state on Monday published its reopening guidelines for movie theaters, which Gov. Andrew Cuomo has allowed to open (except in New York City and a handful of counties) on Friday for the first time since March. The guidelines don’t hold many surprises for operators that have already set up stringent CinemaSafe protocols developed
EXCLUSIVE: Chaotic times call for creative measures, and in the midst of a box office that’s been greatly impacted by the pandemic, not to mention the lack of major studio tentpoles, exhibition is thinking outside of the box to restore moviegoer confidence and encourage their return to the cinema. In a few words: Private watch
Exhibitors in New York State are speed dialing former staffers and bookers after a surprise weekend announcement by Gov. Andrew Cuomo that long-shuttered cinemas can reopen Friday under guidelines expected early this week. Joseph Masher, president of NATO New York and CEO of family-owned Bowtie Cinemas, anticipates the long-awaited state playbook will pretty much echo
Finally, exhibition gets a break in the Empire State. During a press conference on Saturday, New York Gov. Andrew Cuomo announced movie theaters outside of New York City can reopen at 25 percent capacity or up to 50 people per screen on October 23rd. We also hear they can sell concessions. This is in effect
Donna Langley, chairman of Universal Filmed Entertainment Group, and Ann Sarnoff, chair and CEO of Warner Bros had the same reaction Thursday when asked if their companies had any interest in buying movie theaters. They laughed. “We have no plans to do that currently,” Langley said, appearing with Sarnoff and CBS CEO George Cheeks on
Things are going from bad to worse in exhibition as AMC Entertainment said Tuesday its cash will be gone by late this year or early next and it’s exploring potential sources of additional liquidity, including asset sales, joint ventures or minority investments. The nation’s largest movie chain, like others in the industry, has been struggling
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