The nation’s third largest exhibitor, Cinemark, said Monday it’s selling $250 million worth of debt securities – senior secured notes – and will use the net proceeds of the proposed offering for general corporate purposes, including further increasing its liquidity. Chains are in a massive cash crunch as movie theaters remain closed since mid-March due
Exhibition
With theaters largely closed due to COVID-19 nationwide (except for a handful of drive-ins), there are many things that make sense financially for major studios when it comes to the distribution of their movies right now. It made sense that current theatrical releases such as Bloodshot, The Invisible Man, The Hunt, Onward, etc. would quickly
Cinemark CEO Mark Zoradi, who exhibition chain like the rest of the industry is shut down due to the ongoing coronavirus pandemic, earned $6.3 million in total compensation for 2019, up from $5.2 million the year before, the company said Friday in its annual proxy statement filed with the SEC. The year-over-year gain stemmed from
When it comes to evaluating the financial performance of top movies, it isn’t about what a film grosses at the box office. The true tale is told when production budgets, P&A, talent participations and other costs collide with box office grosses and ancillary revenues from VOD to DVD and TV. To get close to that
When it comes to evaluating the financial performance of top movies, it isn’t about what a film grosses at the box office. The true tale is told when production budgets, P&A, talent participations and other costs collide with box office grosses and ancillary revenues from VOD to DVD and TV. To get close to that
When it comes to evaluating the financial performance of top movies, it isn’t about what a film grosses at the box office. The true tale is told when production budgets, P&A, talent participations and other costs collide with box office grosses and ancillary revenues from VOD to DVD and TV. To get close to that
When it comes to evaluating the financial performance of top movies, it isn’t about what a film grosses at the box office. The true tale is told when production budgets, P&A, talent participations and other costs collide with box office grosses and ancillary revenues from VOD to DVD and TV. To get close to that
A group of 51 European film and audiovisual organizations and individual companies has released a call for action by EU and member state decision makers to safeguard the future of the sector in the wake of the coronavirus pandemic. The statement, see it in full below, says the industry requires “urgent financial support now and
In the wake of a S&P Global report that forecasted AMC Entertainment’s depletion of cash by mid-summer and its potential inability to re-open by June, media reports have already written the chain’s obituary. But hold on one moment. While distribution and rival exhibition sources wouldn’t be shocked if AMC files Chapter 11 in the near
France’s National Film Center, the CNC, has taken measures to relax the country’s notoriously strict windows policy during the coronavirus pandemic. A reduction from the traditional four-month delay between theatrical release and DVD or TVOD was earlier granted for all titles that were already in cinemas on March 14, while movies whose release was set
Support measures for exhibitors in Korea were unveiled this week which include seeing them exempted from paying into the national movie development fund, as one of the world’s biggest markets suffers cinema closures and all-time box office lows amid the coronavirus crisis. Deputy Prime Minister and Finance Minister Hong Nam-ki announced the moves on Wednesday,
The Alamos Drafthouse has launched “Alamo-At-Home,” and as the initiative suggests, it will bring the spirit of the Drafthouse into homes through its signature programming series “Terror Tuesday” and “Weird Wednesday.” “The entire reason Karrie and I built theaters in the first place was to bring people together in a celebration of film,” says Tim
EXCLUSIVE: A majority of moviegoers definitely plan to head back to movie theaters once COVID-19 quells, however, 56% will take their time. The results were unveiled this morning in analytics corp EDO’s “Social Distancing Moviegoing and TV Habits” report which polled 6,8k respondents nationwide last week (March 24-28), largely moviegoers, on their at-home viewing habits
It might appear that Sony just gutted their 2020 schedule. WTF just happened? Did the studio suddenly abandon all hope in its slate? That’s hardly the case: it’s just insurance for the future. And, yes, by and large, all the schedule changes that occurred tonight were in response to the current coronavirus climate. With various
What an amazing weekend this would have been at the box office, that is if all was well in the world. Disney originally had their live-action version of Mulan fired up to go before the worldwide exhibition shutdown occurred, plus it would have been sharing the marquee with the second-weekend of Paramount’s A Quiet Place Part
20th Century Studios’ The Call Of The Wild and Searchlight Pictures’ Downhill will be made available on digital beginning Friday in the U.S., Disney said. Both films had hit theaters in February just ahead of the worldwide coronavirus outbreak, and like other studio feature films will now get shortened theatrical-to-home windows as most cinemas are
Some of the last holdouts in Asia are joining the raft of global markets to see cinema closures, even as the picture in China was beginning to look brighter, before taking a turn today. At this point, all major international box office markets (along with domestic) are essentially closed. Even in places where turnstiles are
From Saturday, a first batch of 205 cinemas will re-open for business in Shanghai. This follows last weekend’s opening of 500+ theaters in other China provinces, though Shanghai becomes the first tier one city to turn the lights back on as the coronavirus reportedly abates in the Middle Kingdom. The Shanghai municipal government made the
Today Scott Cooper issued an open letter, applauding the Senate’s passage of the $2.2 trillion relief bill as a “much-need positive news to an industry I cherish”, particularly in regards to how it’s primed to help movie theaters during this time when they have fixed costs to maintain over several months, and zero revenue coming
In advance of the Senate’s passage of the $2 trillion relief bill, The National Association of Theatre Owners already is celebrating the agreement as a big win for movie theaters, particularly the $454B loan guarantee fund which will help cinemas get by on their fixed costs as local and state governments force a shutdown out of
Warner Bros. is pushing its forthcoming summer theatrical releases until the coronavirus crisis calms down and exhibition makes a full-steam comeback. Despite reports that Patty Jenkins’ Wonder Woman 1984 was headed to streaming, the movie is in fact still going theatrical, and that was always the plan. Wonder Woman 1984 is now moving from its June 5
With the closure of movie theaters nationwide out of safety during the coronavirus, layoffs have been rampant, with the Big Three exhibitors contending with these atrocious times in varying degrees of severity. Word began to spread last week among distribution folks that Regal had been the most acerbic out of the three chains in the
After last week setting a May 4 deadline to decide if CineEurope would go ahead as planned this June, organizers at Film Expo Group have now said they are postponing the major exhibition convention to August. Originally scheduled for June 22-25 in Barcelona, Spain, the annual event has been moved to August 3-6. Keeping safety
As the number of new cases of the coronavirus shows signs of abating in China, a smattering of cinemas re-opened in a handful of provinces across the country this weekend. On Friday, there were 486 movie theaters back at work, while Saturday the total was upped to 507, local reports say. This reps just 4.5%
Despite Senate Democrats blocking the near $2 trillion stimulus package intended to rescue the U.S. economy during the coronavirus crisis, the National Association of Theatre Owners chief John Fithian is “hopeful” that a bipartisan compromise will be reached in the near future. “They’re not at an impasse,” Fithian told Deadline Sunday. “This is just part
S&P Global struck again at the showbiz sector, this time at distressed cinema advertising, putting National Cinemedia and Screenvision on credit watch negative as movie theaters are shuttered and advertising at risk. Ratings agencies like S&P Global, Moody’s and Fitch can be quiet for years and are rarely public facing – but they emerge in
Paramount’s hit winter feature Sonic the Hedgehog, which charted the best opening ever for a videogame movie at $100M WW, will be available for digital purchase on March 31, followed by a 4K Ultra HD, Blu-ray, DVD and for rental on demand or disc on May 19. The pic was part of the studio’s turnaround under 20th
EXCLUSIVE: We understand that this has been in the works for a while, but the Media Rights Capital/Paramount comedy The Lovebirds is heading over to Netflix. The movie was originally expected to open April 3 theatrically, but like several other titles, was pulled from the release schedule due to the exhibition coronavirus shutdown. A streaming date for the
Just to give you an idea of how bad things are right now at the box office… While yesterday reached the lowest we’ve seen at the domestic B.O. with $260K for all titles, it’s not a historical low yet because we haven’t seen how horrible today is yet. Yesterday was -98% from the third Wednesday
Adam Aron, CEO of the nation’s largest movie chain said “the industry has to get liquidity from somewhere” since “we all have expenses and none of us have revenue” after exhibitors closed their doors across the country amidst the spreading coronavirus pandemic. “I am here as a representative of our industry. … The reality is
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