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| Porn Users Forum » Virus changing the movie business for theaters. |
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| 11-17-20 02:16pm - 1495 days | Original Post - #1 | |
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LKLK (0)
Active User Posts: 1,583 Registered: Jun 26, '19 Location: CA |
Virus changing the movie business for theaters. Proof the virus epidemic is not over. In spite of hopes there will be a vaccine released soon. ------- ------- Variety Nov 16, 2020 1:30pm PT Universal Strikes Deal With Cinemark Allowing Movies to Premiere On-Demand Early Cinemark Theatre in North Hollywood, California. Michael Buckner/Variety Cinemark Theatres and Universal Pictures have forged a landmark agreement to bring theatrical movies more quickly to home entertainment. The deal follows an unexpected arrangement that Universal struck months ago with AMC Theatres, the world’s largest movie theater chain. That pact gave Universal the option to put new movies on digital rental services after 17 days of theatrical release — a decision that sent shockwaves throughout Hollywood because it dramatically shortened the timeframe (typically 75 to 90 days) that films play exclusively on the big screen. In exchange, Universal would share in the digital profits with AMC. Cinemark has agreed to slightly different conditions. Under their terms, any movie that earns more than $50 million in opening weekend ticket sales has to stay in theaters for at least 31 days, or five weekends. All other titles can be made available to rent on digital platforms after just 17 days. According to insiders, those new terms will also extend to AMC. Universal likely wouldn’t opt to shorten the theatrical window — industry parlance for the amount of time a movie plays exclusively in theaters — for commercial hits, or the kind of movie that would gross more than $50 million in a single weekend, anyway. Neither agreement says that new releases will definitively move to premium video-on-demand after three weekends. However, it gives Universal the opportunity to recoup potential losses should a movie underperform in theaters. But blockbuster hopefuls, hailing from franchises like “Jurassic Park” or “Fast & Furious,” are expected to still have lengthy theatrical runs. Anything shorter could cannibalize ticket sales. Universal movies that debut early on-demand won’t be promptly yanked from theaters. Cinema operators will still be able to play them on the big screen, should they want to. The full financial terms of Universal and Cinemark’s deal have not been disclosed. “Universal’s century-long partnership with exhibition is rooted in the theatrical experience, and we are more committed than ever for audiences to experience our movies on the big screen,” said Universal Filmed Entertainment Group Chairman Donna Langley, who also orchestrated the studio’s historic deal with AMC. “Mark Zoradi and the team at Cinemark have been outstanding partners, and Peter Levinsohn [Vice Chairman & Chief Distribution Officer, UFEG] has done a remarkable job on the studio’s behalf in making deals that give us the confidence to release our movies in the marketplace, keep the content pipeline moving, and provide consumers with the optionality that they are looking for.” The expedited timeline comes amid the coronavirus pandemic, a heath crisis that’s been devastating to those in the business of showing movies on the big screen. Rival chain Regal, the second-largest circuit in the country, chose to close down all U.S. locations, citing the lack of new movies and weak ticket sales. AMC, on the other hand, said its deal with Universal is the reason why they are able to stay open. (The company has not disclosed any details about the revenue-share.) Universal, compared to other major studios, has been active in debuting movies during the pandemic because of the flexible premium video-on-demand agreement. In the last few weeks, Universal and its specialty label Focus Features have released the slasher film “Freaky,” “Come Play” and “Let Him Go.” Universal’s recent and upcoming releases have been admittedly smaller in scale (read: less financially risky). The studio plans to save its most anticipated titles, such as “Fast & Furious” sequel “F9” and “Jurassic World: Dominion,” for when moviegoing returns to a stronger degree. Before 2020 ends, Universal is opening family film “The Croods: A New Age” on Nov. 25, comedic drama “Half Brothers” and romantic tear-jerker “All My Life” on Nov. 4, and “News of the World” with Tom Hanks and the Focus Features revenge thriller “Promising Young Woman” on Christmas Day. In a statement, Cinemark CEO Mark Zoradi said the company believes in “a more dynamic theatrical window.” “We are extremely pleased to further enhance our strong partnership with Universal as we evolve the exclusive theatrical window,” Zoradi said. “We believe a more dynamic theatrical window, whereby movie theaters continue to provide an event-sized launching platform for films that maximize box office and bolsters the success of subsequent distribution channels, is in the shared best interests of studios, exhibitors and, most importantly, moviegoers.” Universal is currently the only major studio to reach this kind of agreement with movie theater owners. Yet the arrangement with AMC and Cinemark means that two of the biggest movie theater chains in the country have conceded that the film distribution landscape will look very different when the world emerges from the pandemic. Not all theater chains are ready to surrender to a future that puts a bigger emphasis on digital. Mooky Greidinger, the CEO of Regal’s parent company Cineworld, has been vocally opposed to such drastic changes to the theatrical window. In a recent interview with Variety before Cinemark’s deal was announced, Greidinger said he wouldn’t entirely rule out a similar agreement, but attested that 17 days is “too aggressive and too short.” | |
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| 11-19-20 04:42pm - 1493 days | #2 | |
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pat362 (0)
Active User  Posts: 3,575 Registered: Jan 23, '07 Location: canada |
The two most recent example of the changes are that both Black Widow and Wonder Woman 84 are going the streaming route with very little theater time. Long live the Brown Coats. | |
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| 11-20-20 12:10am - 1493 days | #3 | |
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LKLK (0)
Active User Posts: 1,583 Registered: Jun 26, '19 Location: CA |
Considering the heavy debt load the major theater chains are laboring under, because of acquisitions, there is a good chance the major theater chains will have to re-organize under bankruptcy protection. And sell off or close lots of theater locations. Because that's the route many restraurant chains have taken. The value of each theater is going down, because the timeline of theatrical release has been shortened so drastically. Cinemark Theatres and Cineworld, two of the largest movie chains in the world, are both losing millions of dollars each month, and their stocks have shattered. I've read that China has turned the corner, and the Chinese theaters are doing better. However, there is apparently a lot of fraud in the reporting of box office grosses in China, so it's hard to know what the heck is the true financial picture of Wanda Cinemas (the large Chinese theater chain, which is now the biggest theater chain in the world). But the US and UK are more transparent: the two main theater chains are loaded with massive debt, and with little relief in sight. | |
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| 11-20-20 12:58am - 1493 days | #4 | |
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LKLK (0)
Active User Posts: 1,583 Registered: Jun 26, '19 Location: CA |
Movie theaters are still closed in Los Angeles county. So I won't be seeing any movies in a theater any time soon. Or for a good while, since I'd rather be safe than sorry about catching the virus. -------- -------- ‘Monster Hunter’ Will Now Hunt Monsters in Theaters on Christmas Day Posted on Thursday, November 19th, 2020 by Chris Evangelista Nothing says “Merry Christmas” like Milla Jovovich hunting some monsters. Monster Hunter, the latest effects-heavy team-up between Jovovich and husband Paul W.S. Anderson, will now open on Christmas Day. That puts it directly up against Wonder Woman 1984, but Wonder Woman 1984 is also debuting on HBO Max that same day, so Sony might figure this is their chance to corner big theatrical numbers for that day. Of course, all of that hinges on the idea of movie theaters actually being open. Any other year, I might be over the moon at the idea of going to the movies on Christmas Day to watch Monster Hunter. This year, though, is another story. The coronavirus continues to be a very serious problem, and in many places, things are getting worse, not better. As a result, many 2020 movies have been pushed back to 2021 – but Hollywood isn’t ready to throw in the towel just yet. Which is why Sony is deciding to drop Monster Hunter into theaters on December 25, putting it up against Wonder Woman 1984, which will also hit HBO Max the same day. At one point, Monster Hunter was supposed to open in September of 2020. Then it got pushed to April 2021. Then, curiously, it got moved back – to December 30, 2020. Now, it’s arriving in theaters and IMAX on Christmas Day. If I had to guess, I’d say Warner Bros.’ decision to release Wonder Woman 1984 on HBO Max is what gave Sony the confidence to move in on that December 25 date. The logic being that even though Wonder Woman will be at the box office, most people will probably watch it at home, while Monster Hunter remains exclusive to theaters. “You want a big movie you can only see on the big screen?” Sony is essentially asking. “Well, here’s your chance!” In Monster Hunter, “When an unexpected sandstorm transports Lt. Artemis (Milla Jovovich) and her unit (TI Harris, Meagan Good, Diego Boneta) to a new world, the soldiers are shocked to discover that this hostile and unknown environment is home to enormous and terrifying monsters immune to their firepower. In their desperate battle for survival, the unit encounters the mysterious Hunter (Tony Jaa), whose unique skills allow him to stay one step ahead of the powerful creatures. As Artemis and Hunter slowly build trust, she discovers that he is part of a team led by the Admiral (Ron Perlman). Facing a danger so great it could threaten to destroy their world, the brave warriors combine their unique abilities to band together for the ultimate showdown.” Sony also shuffled around some other release dates – Peter Rabbit 2: The Runaway, which was set for January 15, 2021, has now moved to April 2, 2021; and Fatherhood is moving to April 16, 2021 from its original date of April 2, 2021. | |
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