This has been a difficult time for the film industry, which has struggled to get out of the pandemic. So far, the box office has been a colorful mix of COVID-era HITS like “A Quiet Place Part II” and “F9: The Fast Saga,” as well as commercial disappointments like “Snake Eyes” and “Space Jam: A New Legacy.” It`s the question of a million dollars (or maybe several million dollars). Universal cannot realistically share revenues with all theater operators in the country. It is beneficial to be an early adopter. Neither the studio nor the theater chains disclosed any financial data. However, it can be assumed that the recalcitrant will receive fewer benefits. In addition to the impact on cinemas, the pandemic has also delayed several notable releases. These include Marvel Studios` highly anticipated Black Widow movie, released on September 9. July will be released in theaters as well as on Disney+, and No Time to Die, which is currently expected to be released in theaters on October 8. Of course, there are also movies like Dune, which was originally scheduled to be released in December 2020, but is now set to debut simultaneously in theaters and on HBO Max on October 1. Paramount, on the other hand, has announced plans to make all of its theatrical titles available on Paramount+ 45 days after their theatrical debut.
Actors whose salary may be tied to the box office have also been unhappy with the daily streaming releases, with Scarlett Johansson suing Disney for the release of Black Widow. With actors, filmmakers, and theaters taking action against them, it`s not hard to see why studios are considering going back to the old way of releasing movies (albeit with shorter windows). It`s unclear how Cinemark struck a deal with these five studios, or what was agreed in the first place. It is also unclear whether other well-known movie chains will follow in any way they deem appropriate. AMC and Universal recently struck a 17-day exclusivity agreement, suggesting that different theater chains and studios could negotiate different contracts without an established standard at this point. What we do know, however, is that the way films are released will continue to change as the pandemic drags on. And these changes are already becoming clear. Universal struck a similar deal with the world`s largest movie chain, AMC Theatres, a few months ago — a move that initially drew criticism. But with Cinemark on board, two of the country`s largest movie chains have accepted the fact that the film industry will be very different when the world emerges from the coronavirus pandemic. AMC Theatres has reached a formal agreement with Warner Bros. to show the studio`s 2022 list on the big screen for an exclusive 45-day window.
During the pandemic, studios have chosen to release some of their new films simultaneously in theaters and on streaming services such as Netflix. In some cases, films have completely bypassed cinemas, further devastating the already wounded industry. This further significantly reduces the exclusive window that a film plays in cinemas from 74 days, or about two and a half months, which was typical before cinemas closed before the pandemic. Cinemark chief Mark Zoradi did not disclose the terms of the new deals, but told analysts in a call Friday that some deals “take several months; others go there for several years. Armed with fresh capital, Aron said AMC was going on the offensive again. He said the company could add at least 10 new sites to its racetrack, eight of which are leases formerly operated by Pacific Theaters. Last month, AMC acquired two of the closed chain`s most popular locations, The Grove in Los Angeles and Americana at Brand in Glendale. The new locations include other California locations, as well as theaters in Chicago and Atlanta. The theatre industry has suffered some setbacks. Recent versions such as “The Suicide Squad” and “Jungle Cruise” have yielded too disappointing results, and consumer confidence is fragile due to the proliferation of the Delta variant. Aron acknowledged that public health experts believe the virus will see a further increase in the number of cases in the winter, but he predicted that rising vaccination rates will ensure that the film industry will not see a decline in popularity.
Shelves in the U.S. will reopen in limited capacity for the first time in six months starting April 2 to accommodate Warner Bros. Kong,” which will stick to the studio`s current release schedule for 2021 to play simultaneously in theaters and HBO Max. More shelves will open on April 16 to show the day and date of the “Mortal Kombat” studio with streaming. The exclusive 45-day cinema window for Warner Bros. movies on Regal Cinemas begins in 2022. No, but they probably will at some point. Regal, the second largest channel, has shut down all U.S. sites due to the lack of new movies, so it`s safe to assume that they won`t be making far-reaching decisions anytime soon. Mooky Greidinger, the CEO of Regal`s parent company, Cineworld, was among the most heavily criticized by AMC`s decision. He recently told Variety that he wouldn`t completely rule out a shortened movie window, but insisted 17 days was “too aggressive and too short.” Look for a mid-sized channel like Alamo Drafthouse or Marcus Theatres to get into the action next.
Cinemark, the third largest movie chain in the United States, has announced that it has signed new agreements with major Hollywood studios that will ensure that the films will be shown in their theaters for some time before moving to home video streaming. “Cinemark is thrilled to have entered into new agreements with our key studio partners, and we are committed to continuing to provide moviegoers with an immersive, larger-than-life cinematic environment to watch the major films to come, ranging from blockbusters to specialty rates to family content,” said Mark Zoradi, CEO of Cinemark. “As part of our ongoing efforts to maximize attendance and box office attendance during the pandemic and beyond, our goal is to provide the widest range of content in the best long-term interest of Cinemark, our studio partners and moviegoers. We are pleased with these latest developments and are confident that we are taking positive steps to revive theatrical exhibition and further develop the industry in a post-pandemic landscape. PLANO, Texas–(BUSINESS WIRE)–Cinemark Holdings, Inc., one of the world`s largest and most influential film companies, today announced that it has entered into agreements to present films from the five major partner studios in its U.S. theaters. The announcement builds on the exhibitor`s November agreement with Universal Filmed Entertainment Group and includes agreements with Warner Bros. Picture Group, The Walt Disney Company, Paramount Pictures and Sony Pictures Entertainment. Overall, these agreements ensure a consistent supply of content and demonstrate a shared commitment to providing consumers with the ultimate cinematic experience, with compelling content displayed in the cinematic environment.
Aron added: “We are in active dialogue with all the major studios on this subject. We hear considerable support for the fact that an exclusive movie window is an important way to build a successful film franchise. Warner Bros. isn`t the only studio negotiating to bring back theatrical exclusions. AMC and Universal have also reached an agreement that only allows for a 17-day exclusivity window, and Disney will also create a 45-day window with Paramount. Most of these studios have their own streaming services that they can serve and sell, but movie theaters still seem to be important to the film industry. During the call, GAC said there was an “active dialogue with all the major studios” on the theater`s exclusive windows. Good question. Looking at only 50% of the United States.
Movie theaters are currently open, and they`re working at reduced capacity, and much of the public is afraid of catching the coronavirus, it`s hard to imagine a movie breaking the $50 million mark – or even the $20 million mark – while the pandemic is still raging. If a film had had a chance to reach this level, it would have been Christopher Nolan`s “Tenet”. But the sci-fi thriller only grossed about $9 million in its first three days in theaters. .