We do not currently have plans to close our U.S. theatres and are continuing to align with demand, including reducing operating hours and days while we await new studio content to encourage theatrical moviegoing,” said a Cinemark rep. All movie titles, pictures, etc... are registered trademarks and/or copyrights of their respective holders, Dedicated hosting provided by NEXCESS.NET Web Hosting, Website Design & Development by Face3 Media, "We do not see any business sense in this model", "We make it clear again that we will not be showing movies that fail to respect the windows. 30. Cineworld not being down with this new deal is significant because they own Regal Cinemas, which is the second-largest chain in the U.S. with 7,155 screens in 542 theaters in 42 states. Fill in your details below or click an icon to log in: You are commenting using your WordPress.com account. The prolonged closures have had a detrimental impact on the release slate for the rest of the year, and, in turn, our ability to supply our customers with the lineup of blockbusters they've come to expect from us. 3 theatrical exhibitor in the U.S, has confirmed that they’re currently planning to stay open during the pandemic. XBRL. And in some cases half, or more than half of the revenue stream on big theatrical movies is coming from worldwide theatrical. And honestly, the studios recognize that. On Friday, Oct. 9 they’re reopening their Hadley and Springfield, Mass venues as well as three in Michigan including Flint, Taylor and Ypsilanti. We are especially grateful for and proud of the hard work our employees put in to adapt our theatres to the new protocols and cannot underscore enough how difficult this decision was," said Mooky Greidinger, CEO of Cineworld. KNOXVILLE, Tenn., Oct. 5, 2020 /PRNewswire/ -- In response to an increasingly challenging theatrical landscape and sustained key market closures due to the COVID-19 pandemic, Cineworld… The following slide deck was published by Cineworld Group PLC ADR in conjunction with their 2018 Q2 earnings call. It’s a $40 billion-plus business.
If anyone thought other theater chains would be hopping on board with AMC on this new business model, they were sorely mistaken. THE HUNGER GAMES CATCHING FIRE Interviews (2013) Jennifer Lawrence, Liam Hemsworth & more! Back in early August, Cinemark executives said on a 2Q earnings call that they have sufficient cash to last “well into 2021” even if theaters remain closed due to COVID-19. All Rights Reserved. A, HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. In turn, without these new releases, Cineworld cannot provide customers in both the U.S. and U.K. – the company's primary markets – with the breadth of strong commercial films necessary for them to consider coming back to theaters against the backdrop of COVID-19. And honestly, the studios recognize that. ( Log Out / Report Links Annual Report Document Links View 10-K. Sign Up For Email Alerts. As such, it is simply impossible to continue operations in our primary markets.". Decision Driven by Ongoing Theatrical Calendar Delays and the Continued Closure of New York and Other Key U.S. Markets. ZIP XLS HTML. During that time Greidinger said, "We make it clear again that we will not be showing movies that fail to respect the windows."
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