In the span of six days, the Chinese box office roared to a $1.2B Lunar New Year record, with Wanda Pictures’ Detective Chinatown 3 setting global benchmarks for the biggest opening day and weekend in a single market. This happened even as some Covid restrictions remain in place in the Middle Kingdom. While the pandemic
Exhibition
On Wednesday, Chinese New Year box office achieved yet another new milestone with grosses for the holiday period growing to an estimated RMB 7.78B ($1.2B). This beats the previous all-time high set during the comparable 2019 holiday (RMB 5.9B). China often outdoes itself, but the fact that 2021’s Lunar New Year frame came with Covid
New York Gov. Andrew Cuomo Wednesday set reopening dates for amusement parks, indoor family recreation centers and summer camps — the latest venues to get a nod as movie theaters in the city remain shuttered. That’s despite Manhattan having the lowest Covid-19 infection rate in New York — 2.5%, confirmed at the governor’s press briefing
Movie theater advertising network National CineMedia has inked a deal with Harkins Theatres, expanding its foothold in the Southwestern U.S. as it hopes movie-going will pick up this year. Privately-owned Harkins, the nation’s fifth-largest exhibitor and biggest independent chain, has signed a long-term cinema advertising affiliate agreement to bring NCM’s Noovie pre-show entertainment to its
Sony Pictures Classics has made some tweaks to its release schedule for four upcoming pics and one that’s already in theaters. The distributor run by co-presidents Michael Barker and Tom Bernard said that Dror Moreh’s documentary The Human Factor, which opened last month in Los Angeles and New York, will go nationwide in theaters on May 7.
Shares of AMC Entertainment are down nearly 40% today on another wild ride, reversing gains after an explosion of support by retail traders that started last week catapulted stock of the pandemic-pummeled chain to levels not seen since 2017. Around midday, shares of the nation’s largest cinema operator are changing hands at $8.21 That’s still
Shares of the happiest of exhibitors AMC Entertainment continued an upward trajectory Monday fueled by retail traders on Reddit chat rooms, even as a leading Wall Street analyst downgraded the stock to ‘sell’ and valued it at $1. “In our view, the recent volatility and spike in the company’s stock, thanks to the Reddit/WallStreetBets crowd,
AMC Entertainment said Silver Lake Group is converting $600 million worth of the theater chain’s debt that it holds into stock at a conversion price of $13.51 a share, a surprise all around considering the exhibitor’s shares were languishing below two bucks earlier this month. The giant investment firm partnered with AMC back in 2018
As exhibitors get set to report results from the last quarter of their annus horribilis, 2020, one Wall Street bull is predicting record box office in 2023. Eric Wold, a veteran analyst with B. Riley Securities, acknowledged in a note to clients that exhibitors’ efforts to emerge from the abyss of Covid-19 have been hampered
Struggling AMC Entertainment said early Monday it has raised or signed commitments for $917 million including additional financing since December, calling it “enough cash to “make it through this dark, coronavirus-impacted winter.” “This means that any talk of an imminent bankruptcy for AMC is completely off the table,” said CEO Adam Aron in a statement.
Warner Bros is moving The Many Saints of Newark from March 12 to Sept. 24. New Line is releasing. Remember, WarnerMedia announced that its entire 2021 slate is going theatrical and HBO Max at the same time, but big chains like AMC are negotiating terms on a film by film basis. So that means not everything Warners
As we first told you last month, Legendary and Warner Bros are poised to settle their fight over Godzilla vs. Kong, the fourth monster movie between the two which the former financed the $200 million-plus production at 75%, with the movie keeping its simultaneous theatrical and HBO Max release date May 21. Meanwhile, a settlement over
John Stephens, the outgoing CFO of WarnerMedia parent AT&T, defended the company’s move to release its 2021 film slate concurrently on HBO Max and in theaters and cited Warner Bros. century-long relationship with Hollywood talent — with some disgruntled at the move and the way it was communicated. “We’ve got a long history of working
AMC Entertainment CEO Adam Aron said Tuesday that the nation’s largest cinema chain had raised $204 million in two weeks in December out of at least $750 million it needs to get to the other side of a global pandemic that has crippled moviegoing. It was the latest capital raise after previous rounds of AMC
Financially hurting cinema advertising network National CineMedia has inked a deal to run ads with Coinstar, a big operator of supermarket coin-counting kiosks. With the exhibition business on the Covid-19 skids, the agreement helps expand National CineMedia’s digital-out-of-home footprint by extending its movie-centric entertainment content, trivia, and advertising beyond movie theaters to complementary venues. It
It was supposed to be a year when the playing field became even. After losing to Disney for four years in a row, with the Burbank studio setting an industry record in 2019 of $13.2 billion global box office, a new major studio was set to become the domestic king. “I think 2020 is going
It’s historically been a week when we’re reporting on Star Wars movies doing a daily box office average of $20M, but in this distressed Covid environment where 60% of all U.S. and Canadian theaters are closed, we have only to highlight that Warner Bros.’ Wonder Woman 1984 did an estimated $22.5M in its first week. Eeesh. Now
AMC Entertainment on Wednesday filed to sell up to 50 million more shares in an ongoing quest to stay solvent as it outruns the pandemic. The nation’s largest theater chain registered the shares in an SEC filing this morning, adding to the 200 million it previously registered. It said it’s raised $104 million as of
Long before former Hulu chief Jason Kilar became disruptor in chief at WarnerMedia and put the entire 2021 Warner Bros slate on HBO Max, Fredric Rosen began changing the way concert tickets were sold as the Ticketmaster president/CEO, when the service became the leading computerized ticketing company in the world. He would become co-CEO of
As pollyannaish as it sounds, especially as the domestic 2020 box office crumbles to a historic all-time low of $2.27 billion due to the coronavirus pandemic, the global theatrical business is poised for a comeback in 2021. However, it might take a few months. How in God’s name can such a ridiculous projection be forecasted?
WarnerMedia will be closing its Hong Kong theatrical office, with films from Warner Bros to be released by Universal Pictures in the market beginning January 1, Deadline has confirmed. Layoffs are expected in Hong Kong, though an exact number is not yet clear. A typically solid market, Hong Kong’s cinemas shuttered for the third time
AMC Entertainment Monday unveiled plans to change its board structure in an agreement with majority shareholder Wanda America Entertainment, a division of Dalian Wanda Group of China. Wanda holds nearly 60% of the voting power of financially strapped AMC through ownership of all the company’s super-voting Class B shares. The nation’s largest theater chain said
EXCLUSIVE: CAA is the latest to blast WarnerMedia on its decision to place its entire 17-film slate on HBO Max at the same time the films are released in U.S. theaters in 2021. Sources said that at an agency staff meeting, CAA president Richard Lovett read aloud a letter that he sent to WarnerMedia CEO
Struggling AMC Entertainment said it risks running out funds in January. In its latest warning cry, it said it needs $750 million “to remain viable” through 2021. Even if it raises that, it still risks bankruptcy next year if moviegoing doesn’t pick up — and Warner Bros. may have made that harder to accomplish. In
Imax CEO Rich Gelfond doesn’t see the Warner Bros.-induced sound and fury in Hollywood subsiding anytime soon as talent joins theaters to protest the studio’s 2021 theatrical windows – nor does he think Warner will stick it out for a full year. “I don’t this is a storm that’s going to blow over in a
Cinemas in France will not be able to reopen on December 15 which was the date initially set by the government late last month. They will instead remain closed for at least three weeks from that date, French Prime Minister Jean Castex said in an address to the nation this evening. France has been in
Editor’s note: Michael Shamberg is a tenured film and TV producer whose credits include Contagion, Get Shorty, The Big Chill, Erin Brockovich, Out of Sight, Pulp Fiction, A Fish Called Wanda and many others. With the Warner Bros announcement that all its 2021 films will premiere online at the same time as in theaters, it’s
Can cinemas play day-and-date releases from Warner Bros after continually refusing to show Netflix films? The big circuits have to be feeling really stupid now: If they had only made a deal with Netflix last year on Martin Scorsese’s The Irishman at a 45-day window instead of emphatically rejecting one, perhaps this looming apocalypse brought on
WarnerMedia CEO Jason Kilar jumped on the phone today to talk more about the revolutionary theatrical-HBO Max window for the studio’s 2021 slate. That big decision comes strictly down to the pandemic, and the studio aiming to maximize their movies as revenue events on its new streaming service HBO Max, as well as helping those
AMC Boss Adam Aron has weighed on WarnerMedia’s news about debuting its entire 2021 theatrical release slate simultaneously on HBO Max, and he isn’t a happy camper. Wonder Woman 1984 as a one-off was fine, but the chain expects to fight hard when it comes to terms. Here’s what Aron had to say today: “These
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