AMC Entertainment stock jumped over 15% at open in a down market Wednesday at open after execs outlined global opening plans at a conference call late yesterday afternoon. Share had popped by over 17% in premarket trade. It’s been a roller coaster – mostly down – for AMC shares since the coronavirus pandemic forced it
Exhibition
Buried in AMC’s Q1 earnings release today on page 3 was the statement, “While we are in active dialogue with Universal, no movies made by Universal Studios are currently on our docket.” The note comes a little bit more than a month after AMC CEO and President Adam Aron alerted the studio in a public
In the wake of California giving the green light for movie theaters to open as early as this Friday, exhibition will be thrilled to hear that more product will become available on the marquee. Tri-Star Pictures is scheduling the Selena Gomez executive produced romantic comedy The Broken Hearts Gallery on July 10, ahead of Warner Bros.’
EXCLUSIVE: From what we’ve been able to pull together, Universal/Dreamworks Animation’s Trolls World Tour continues to reign with $300K in its 9th weekend at the domestic box office from a theatrical marketplace that remains largely shutdown coast to coast. Our sources believe that the sequel has made just over $3M from theatrical ticket sales since Easter weekend
EXCLUSIVE: With California Gov. Gavin Newsom potentially poised to make an announcement easing COVID-19 restrictions on movie theaters this week, the industry anticipates at least the semblance of a summer season. We’re hearing cinemas in California will be given the all clear to reopen on June 12 with more details to come in the near
Giant exhib AMC Entertainment said it expects to report ballooning losses of between $2.1 and $2.4 billion for the first quarter ended in March on one-time charges compared with losses of $130 million the year before. Announcing preliminary results Wednesday, it anticipated revenue of $941 million last quarter versus $1.2 billion the year earlier. The
While Cinemark CEO Mark Zoradi continued to champion the theatrical window this morning on the chain’s Q1 earnings call, he also told investors and financial analysts that when it comes to smaller and lower-grossing titles, “we’re open to talking with studio partners about alternatives we can consider.” “I don’t want to give the wrong impression,”
EXCLUSIVE w/chart: As more theaters have inched toward opening as COVID-19 safety restrictions are eased in states like Texas, Georgia, and Tennessee, a top 10 box office chart has emerged, and we just got our hands on the last two weekends. First of all, it’s still pretty grim out there and this gives you an
Cinemark CEO Mark Zoradi remained confident this morning on the exhibitor’s Q1 call that Warner Bros.’ Christopher Nolan movie Tenet will remain on track and open on its planned July 17 release date. While Solstice Studios’ Unhinged will be the first new wide release movie in those theaters that are open on July 1, Tenet with
EXCLUSIVE: Some international box office markets that are up and running — even if not at full steam — saw increases this weekend while others faced drops given good weather in some spots and an overall lack of new product. However, Disney floated Kristen Stewart-starrer Underwater into Korea for the first time with a No.
Studios look set to gain the upper hand in skirmishes with exhibition over windowing as trends during the COVID-19 pandemic extend into the future with mid-range films generating the $50-$100 million range the most at risk of dwindling theatrical runs, according to a leading Wall Street analyst. Exhibitors have until now been able to stand
EXCLUSIVE: Despite the Polish government giving exhibitors the green light to resume operations this week, the country’s major exhibitors say they are planning to take a slow and steady approach to re-opening. Last week, Poland’s Prime Minister Mateusz Morawiecki announced that cinemas in the country would be allowed to re-open from June 6 following the coronavirus
Shares of giant U.K. exhibitor Cineworld soared 23% Thursday as it confirmed plans to open theaters in July when it currently anticipates restrictions on cinemas will be lifted in each of its territories, and said that it antcipates a cash infusion from government COVID-19 relief programs in the U.K. and U.S. along with new loans.
France’s movie theaters will be allowed to re-open from June 22, Prime Minister Edouard Philippe announced this evening. This is earlier than expected, as French Culture Minister Franck Riester said this week that cinemas were eyeing a July 1 re-start. The decision was made in concert with the industry, Philippe said in a televised address,
EXCLUSIVE: It’s all very quiet on the international box office front, but this past weekend saw some decent increases in various markets. Cinemas are still just sputtering back to operations around the world, notably in parts of Europe and Asia. Germany remains the key major driving admissions — and largely from drive-ins, though Vue International’s
IPIC Theaters announced today that they’ll start reopening their luxury dine-in chain in its Texas locations, starting with their Fairview and Houston sites on June 4 followed by Austin on June 11. IPIC will play catalog movies upon reopening “at a special ticket price.” No dates listed yet for IPIC California locations in Pasadena and
As France awaits official updates that are expected to come later this week with regard to the re-opening of restaurants and perhaps fewer restrictions on travel, Culture Minister Franck Riester reiterated today that cinemas are eyeing a July 1 re-start. Speaking to France Info, Riester said the government is mulling dates to re-open cultural venues
Tenedora de Cines, owner of exhibition giant Cinepolis, has acquired 2.8 million shares, or 2.4%, of U.S exhibitor Cinemark, according to an SEC filing Wednesday. Another 17 individuals who are executives and part of the company’s founding family have acquired various smaller positions that total 6.1%. An SEC filing is required in cases where passive
What a difference a year — and a pandemic — makes. At this time in 2019, Pokémon Detective Pikachu was the No. 1 movie in 72 markets with a $54M frame at the international box office while John Wick: Chapter 3 – Parabellum took out a took out a $35M hit in 66 and Avengers:
Warner Bros has keyed up a re-release of Christopher Nolan’s Dark Knight trilogy in Hong Kong and Taiwan, ahead of the mid-July launch of the director’s latest epic, Tenet. The three films — Batman Begins, The Dark Knight and The Dark Knight Rises — will release over several weeks. The first rollout is in Taiwan
France’s movie theaters may be able to re-open at the beginning of July, the country’s Culture Minister Franck Riester said today. A further update is expected at the end of this month, however, Riester told local radio this morning that the government believes a certain number of cinemas may be able to get back to
Italy’s cinemas will get back to business from June 15, the government announced Saturday as it outlined an overall easing of lockdown protocols in what was the initial epicenter of the European continent’s coronavirus outbreak. As with other markets that are beginning to lift restrictions on moviegoing, there will be social distancing measures in place
The franchise owner of Alamo Drafthouse’s three dine-in movie theaters in Arizona has filed for Chapter 11 amid the impact from exhibition’s nationwide closure during the coronavirus pandemic. The filing only pertains to the Phoenix-based franchises of Alamo Drafthouse in Tempe, Gilbert and Chandler, not the other corporate owned theaters of the Austin, TX chain.
EXCLUSIVE: Good news for big circuits AMC, Regal and Cinemark and other movie theaters which are hoping to return to business in the late June to early July period: In an updated EDO moviegoer study entitled “Movie Theaters and Social Distancing”, 75% respondents said that they were more likely to return to cinemas upon their
EXCLUSIVE: We’ve learned and confirmed that some exhibitors will be sharing in this weekend’s revenues for the Warner Bros. digital and PVOD release of Scoob! Warner Bros. opted to take their Tony Cervone-directed animated release into homes this Friday instead of theaters given the continued near nationwide exhibition shutdown during COVID-19. Scoob! will be available for
Broadway theaters aren’t expected to reopen in New York City for quite a long time, Deadline sources saying not before 2021. And according to New York State governor’s recent reopening phase plan, indoor cinemas are in the same final phase 4 classification as Broadway theaters, entertainment venues, museums and arts and recreation businesses. Yikes. Weren’t
After initially delaying this year’s CineEurope exhibition convention from June to August in Barcelona, organizers have now decided to scrap the 2020 event altogether. In a note today, Film Expo Group said, “With concern for the health and safety of our attendees as our absolute priority, we regret to inform you that we have decided
Hitting topics that are top of mind in Hollywood, ViacomCBS Bob Bakish said stalled production is a money saver now but needs to restart by mid-summer; that movies will be released in theatres as planned if they’re open and enough people are going; and that COVID-19 has spurred cost efficient work that will inform its business even after
Cinemark Holdings, the nation’s third largest exhibitor will delay reporting its financials for the quarter ended in March. It said in an SEC filing Friday that it plans to report by June 11. The company said it was impossibe to get the numbers and paperwork ready in time given the enormous disruption to its business
Chinese authorities will allow further leisure venues, including cinemas, to gradually re-open now that the coronavirus pandemic has largely been controlled in the country, the top administrative body said on Friday. This comes after movie theaters were shuttered nationwide in January, ultimately dealing a $2.5B+ loss to the box office in just the first quarter.
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