“Death on the Nile” from Disney’s Twentieth Century division is the biggest budgeted movie still scheduled to come out in October. If “Black Widow” (November 6) or the James Bond play “No Time to Die” (November 20) is pushed back or moved online – as Disney recently did with “Mulan” – cinemas are likely to face tough conversations about their future with investors and lenders.
Moreover, the longer the pandemic drags on, the more streaming becomes a threat to theaters. At least a dozen movies originally intended for big screens, including “Hamilton,” “Trolls World Tour”
“We’re learning that markets are opening up, cinemas with security protocols and studios publishing movies are all tied together,” said John Fithian, executive director of the National Association of Theater Owners, in an email. “Open markets need safe cinemas, films need open markets, cinemas need films. All of these things increase audience awareness and comfort by returning to film. You can not do one at a time. ”
Wall Street’s reaction to the opening of “Tenet” and the postponement of “Wonder Woman” tells. AMC shares rose to around $ 7 on September 4, the day “Tenet” arrived in US theaters, up from around $ 2 in April. They have since fallen by about 17 percent. Cinemark has fallen 18 percent since Sept. 4. Cineworld, the parent company of Regal Cinemas, has fallen 14 percent. (For consistency, the S&P 500 is flat for the period.)
“From a cash point of view, we can see this thing through to next year if necessary,” Mark Zoradi, Cinemark’s CEO, said by telephone. The Texas-based company operates about 5,977 monitors in the United States and Latin America. “The fourth quarter gets its feet back on the ground. Next year is a transition year. 2022 is back to a sense of normalcy. ”
He added that recent customer surveys had shown 97 percent satisfaction with security protocols. “We’ve spent millions and millions of dollars getting these things right,” he said. “If we can convince the consumer that we’ve done all these things, it’s much more likely that they’ll come back.”
The nation’s largest multiplex chain, AMC Entertainment, declined to comment.
When it comes to the three biggest movie markets, expectations are set for both Los Angeles and San Francisco given the rigorous measurements, California Government Gavin Newsom recently announced as part of his reopening plans. For New York, both exhibitors and study leaders are outraged that the government of Andrew Cuomo has not provided a specific timetable for when cinemas can reopen and connect them with other large crowds such as concerts and amusement parks, while allowing bowling alleys and restaurants to resume. indoor operation. Not only is New York City crucial to sales, much of the media coverage and online buzz surrounding new movies is generated from there. (The New York Times typically does not review movies that do not play in New York.)