Movies The (kinda) slow motion implosion of theatrical exhibition thread

[Guest]

42 minutes ago, Remarkableriots said:

@sblfilms How bad would it be on your businesses if the federal minimum wage went to $15/hr added onto what's happening now?

We would be fine long term. Most of my low level staff is around $13/hr with tip share from our concession app. But pricing would certainly adjust over time to compensate for increased labor costs. 

[SoberChef]

It's been since the weekend of January 17th wherein I saw "Bad Boys for Life" when I was last in a movie theater. I typically went AT LEAST once if not 2-3 times a month depending on what was releasing. This news between Bond pulling out & theater chains shutting down for the foreseeable future, alongside the fact that I reside in NYS, just was the final knockout punch I did not need this year. I had held out a modicum of hope for Bond in November, now that is shattered and it will ultimately be nearly a year and a half all told before I find myself in a theater again.

 

Meanwhile, actual CDC scientists have come out to state that NOT ONE INCIDENT of spread of COVID has come from those theaters which are open. They did a tremendous job to minimize as much as possible any potential spread of the virus. Just really hits hard and hurts me deeply a medium of entertainment that I love and care for deeply is not only suffering to such a degree, but so substantially to the point where it very well now may never again be the same.

[Guest]

Disney is going straight to D+ with Soul on Christmas Day. No additional cost, further cementing that Mulan did NOT do well as a PVOD title. PVOD doesn’t work. Gotta bring content that keeps subscribers and brings new ones. They learned that quick.

[Keyser_Soze]

2 hours ago, sblfilms said:

Disney is going straight to D+ with Soul on Christmas Day. No additional cost, further cementing that Mulan did NOT do well as a PVOD title. PVOD doesn’t work. Gotta bring content that keeps subscribers and brings new ones. They learned that quick.

 

Sadly they had to learn it.

[skillzdadirecta]

They definitely learned that PVOD may not have been worth it but considering that met their 5 year subscriber streaming goals two months ago I don't think they really care at this point. They just have to produce enough content to have subs keep their subscriptions when the Mandalorian ends. The pandemic seems to have been a boon to them and other streaming services (not Quibi) 

[SaysWho?]

http://www.latimes.com//favicon-16x16.png AMC Theatres says it's running out of cash as studios flee 2020

WWW.LATIMES.COM

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AMC Theatres, the world's biggest cinema chain, says its cash reserves could be largely depleted by the end of this year or early 2021.

 

[CitizenVectron]

AMC Entertainment Says Cash Will Be “Largely Depleted” By Year End; Exploring Assets Sales, Joint Ventures, Minority Investments

DEADLINE.COM

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AMC Entertainment Says Could Be “Largely Depleted” By Year End; Exploring Assets Sales, Joint Ventures

 

[Guest]

Houston’s AMC Studio 30 multiplex permanently closes

PREVIEW.HOUSTONCHRONICLE.COM

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The theater, which opened in 1997, often played movies that weren't showing anywhere else in the market.

 

Here is an interesting piece to the puzzle. They say it’s not related to COVID, just that the landlord isn’t renewing their lease, but that is still a COVID issue.

 

Landlords are going to want their anchor tenants to be in strong financial positions as the anchors are hugely important to cap rates. So what happens when a business is in a very questionable financial position due to the COVID effects on their industry?

 

Landlords will look to repurpose their square footage for better uses. This will not by any means be the last “not because of COVID” COVID closure.

[TwinIon]

 

38 minutes ago, sblfilms said:

Houston’s AMC Studio 30 multiplex permanently closes

PREVIEW.HOUSTONCHRONICLE.COM

---

The theater, which opened in 1997, often played movies that weren't showing anywhere else in the market.

 

Here is an interesting piece to the puzzle. They say it’s not related to COVID, just that the landlord isn’t renewing their lease, but that is still a COVID issue.

 

Landlords are going to want their anchor tenants to be in strong financial positions as the anchors are hugely important to cap rates. So what happens when a business is in a very questionable financial position due to the COVID effects on their industry?

 

Landlords will look to repurpose their square footage for better uses. This will not by any means be the last “not because of COVID” COVID closure.

 

I was wondering if the large theaters or the small ones would be more in trouble going forward. This seems to suggest that it's those really big multiplex locations will be more likely to close forever.

 

I don't even think there is a 30 screen multiplex in San Diego county. It sure seems like having too many screens would be a liability for the foreseeable future.

[Spork3245]

The AMC 24 near me is permanently closing today 

[Guest]

38 minutes ago, TwinIon said:

 

 

I was wondering if the large theaters or the small ones would be more in trouble going forward. This seems to suggest that it's those really big multiplex locations will be more likely to close forever.

 

I don't even think there is a 30 screen multiplex in San Diego county. It sure seems like having too many screens would be a liability for the foreseeable future.

I think what we will see is a combination of permanent closures and renovations to decrease screen counts and release square footage back to landlords for other purposes or possibly see the major go the family entertainment center route and putting bowling/pool/laser tag/arcades into previous auditorium space.

 

I’ve long thought 9-12 screens will be the norm for new construction cinemas moving forward. COVID really solidified that for me.

[Fizzzzle]

Do you think large theater chains will be created again? Like, I live in Portland, pretty much all megaplex cinemas were Regal, except for one in beaverton and a couple in Vancouver.

 

I wonder if the whole industry will hit a reset button. A whole bunch of smaller theaters are going to open, then over the next decade or two they'll gradually get bought up by new large chains.

[Guest]

4 minutes ago, Fizzzzle said:

Do you think large theater chains will be created again? Like, I live in Portland, pretty much all megaplex cinemas were Regal, except for one in beaverton and a couple in Vancouver.

 

I wonder if the whole industry will hit a reset button. A whole bunch of smaller theaters are going to open, then over the next decade or two they'll gradually get bought up by new large chains.

If the majors fold, I would expect regional chains to be the interim step towards rebuilding the industry until eventual large scale consolidation. The majors have too many bad leases at this point that need to go away and be replaced with more manageable rates for the next 5-10 years.

[CitizenVectron]

20 hours ago, sblfilms said:

If the majors fold, I would expect regional chains to be the interim step towards rebuilding the industry until eventual large scale consolidation. The majors have too many bad leases at this point that need to go away and be replaced with more manageable rates for the next 5-10 years.

 

 

That will be interesting to see which companies rise up and take the place of the existing majors. Perhaps sblfilmoplexes will pop up across the US?

[Keyser_Soze]

54 minutes ago, CitizenVectron said:

 

 

That will be interesting to see which companies rise up and take the place of the existing majors. Perhaps sblfilmoplexes will pop up across the US?

 

I did ask him for a job. Maybe he'll set me up with a theater franchise out here. 🤔

[Remarkableriots]

On 11/10/2020 at 11:48 AM, Keyser_Soze said:

 

I did ask him for a job. Maybe he'll set me up with a theater franchise out here. 🤔

He needs to open some Reno/Sparks locations!  I think I would be qualified for the regional quality control supervisor of snacks and drinks...