The Hollywood Reporter’s Post

Hey everyone, did you hear about the news on Regal owner Cineworld considering theater closures and restructuring options post-bankruptcy? The entertainment industry is facing some major changes, and it's important to stay informed. Let's discuss the future of cinema and how it impacts us as movie lovers. Check out the full article on Hollywood Reporter and share your thoughts in the comments. #Cineworld #TheaterClosures #BankruptcySurvival https://ift.tt/1qwDhJv

To return the kind of revenue the corporate gatekeepers need from a film, they can only afford to make big, overproduced, overpriced movies. And to show them they will need big, overpriced cinema stadiums. Then they can charge hundreds of dollars for a ticket. We need indie films and smaller local venues, much like the ones that first displayed flickers, where indie films can thrive to keep the art of film alive. That will take some investment. So who wants to keep the true film experience alive?

In the hospitality industry, enhancing the customer experience during product consumption is pivotal for maximizing revenue opportunities.

Hollywood's Cinerama Dome Delays Reopening - But There's Hope for 2025! . . https://lnkd.in/dF7E4AJ8 . . #cineramadomedelay #hollywoodmovies #cinemalover #whattowatch #movieblog #filmfan #2025reopening #classicmovies #streamingguide #howtowatchin See insights and ads Boost Comment

Q: Why is it unusual for movie studios to own movie theaters? Sony Pictures Entertainment acquired the eclectic dine-in theater chain Alamo Drafthouse Cinema, an unusual example of a studio owner buying a theater chain. But why isn’t it more common? We asked reporter Robbie Whelan. A: “For starters, from the late 1940s until 2020, most big movie studios were prohibited under federal law from owning theater chains. A law from Hollywood’s Golden Age was meant to reduce the control that the original major studios like Warner Bros., 20th Century Fox and Paramount Pictures maintained over the industry by owning both the means of production and distribution of movies. That law didn’t apply to Sony, a relatively new entrant in the world of film distribution. These days, however, there’s a simpler explanation for why studios haven’t shown much interest in owning theaters: Theatrical exhibition is a business in decline. Most theaters were shut down during the pandemic, when the anti-consolidation law was overturned, and most big media companies pivoted hard over the last five years to the direct-to-consumer model, investing billions in building their own streaming services, which have since majorly eaten into the profits of theaters. Sony, which is sometimes referred to as an ‘arms dealer’ of content that is then distributed by other companies, has mostly resisted the trend of investing in streaming, preferring instead to license its content to established streaming services like Netflix. Buying Alamo makes a bit more sense for Sony compared to others, because Sony doesn’t own one of the major streaming platforms that might cannibalize the sales of tickets to its movies at the box office.”

The decision by Cineplex to introduce dynamic pricing during the #barbenheimer opening weekend is a fascinating example of a hurdle that many service-based businesses face. Dynamic pricing has been the norm in the airline and hotel industries for years, but consumers still have a difficult time accepting variable admission fees for movie theatres or amusement parks. Have a read and share your thoughts! #revenuemanagement #revenuestrategy #dynamicpricing #pricingstrategy

Mexicans 🇲🇽 love going to the movies 🍿 🎥! In 2023, cinemas in Mexico saw a 33% increase in attendance over 2022. Mexico had the fourth-highest movie theater attendance in the world in 2022, according to figures from the Global Entertainment & Media Outlook (GEMO) 2023-2027 by consulting firm PricewaterhouseCoopers (PwC). With nearly 181 million annual moviegoers, Mexico came in fourth after India (986 million), China (710 million) and the United States (655 million). Will this trend continue into 2024? #cinemexicano #filmbusiness Canacine México Canacine Quintana Roo

Struggling entertainment concepts: There are now about 36,400 movie theater screens in the U.S. That is nearly 12% less screens than in 2019 when many theaters closed during or immediately after the pandemic, according to Omdia. Box office sales point to an even worse picture. The total number of movie tickets sold last year was one-third lower than during pre-Covid 2019 era, according to The Numbers, which tracks box-office data. Let me cite two examples, Cineworld Cinemas Ltd., the world’s second-largest movie-theater chain and the owner of Regal Cinemas emerged from bankruptcy last summer after closing about 75 of its 505 U.S. locations. AMC Theatres, the world’s largest theater operator, has closed 169 theaters since the end of 2019 but opened only 60 new cinemas. Because theater space is so difficult to reconfigure physically, theater operators have the upper hand when negotiating new leases or renegotiating existing leasing with their landlords. “The new (theaters) that we’re opening are far more profitable than the ones that we’re closing,” said AMC CEO Adam Aron. Why? Lower rents. Sales at theaters barely achieved $110 a square foot last year (less than a fourth of the retail space national average performance), an improvement but still about 20% below 2019 levels, according to Datex Property Solutions. But good news is expected next year, I think. Theater operators are optimistic because the film output slowdown stemming from the writers’ and actors’ strikes is expected to ebb, giving theaters more movies to show in 2025. We work with two consultants who analyze theater leases and give us real-time advice as to how landlords can restructure theater leases, whether to consider termination deals, restructuring or even new leases. Landlords, don’t make deals on heresay information. You’ll just leave money on the table. If this is an issue of concern, let’s plan to meet at ICSC Las Vegas to discuss alternatives at no cost or obligation.

'Jailer', 'Gadar 2', 'OMG 2' effect: Movie theatres regain mojo, bet big on upcoming movies; check details here

"AMC Theatres, Regal Cinemas and Cinemark all reported a bigger year-over-year share of visitors who went to a movie at least twice in the third quarter, according to Placer.ai, a Los Altos, California-based company that tracks foot traffic. The data shows that blockbusters still drive people to physical theaters despite overall ticket sales remaining lower than pre-pandemic numbers." The success of three box office hits—“Barbie,” “Oppenheimer,” and Taylor Swift's concert film—during the third quarter highlights the resurgence of cinema attendance, marking a positive development for traditional theater owners. CoStar News' Nicole Shih and Jack Witthaus features Placer.ai's "Blockbusters Drive Movie Theater Comeback" in their recent article. Learn more here: https://lnkd.in/egzB7jgv #foottraffic #foottrafficanalytics