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Two large movie theater owners issued dire warnings on Wednesday about their ability to bounce back from the coronavirus. AMC, the nation’s biggest cinema chain, said in a regulatory filing that there’s a “substantial doubt” about its ability to “continue as a going concern for a reasonable period of time.” Companies issue “going concern” warnings …
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The coronavirus will slash box office revenues in half this year, and the pandemic is now poised to weaken the longtime status of movie theaters as destinations for first-run movies, according to an influential media analyst. Revenue from ticket sales will plunge to $5.5 billion this year, down more than 50 percent from $11.4 billion …
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Netflix has finalized a deal to buy Hollywood’s historic Egyptian Theatre for an undisclosed price, capping a transaction that was in the works for over a year. The deal marks a major milestone in Netflix’s effort to become accepted by the Hollywood filmmaking community. Major movie theater chains like AMC and Regal have avoided playing …
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France’s movie theaters will be allowed to re-open from June 22, Prime Minister Edouard Philippe announced this evening. This is earlier than expected, as French Culture Minister Franck Riester said this week that cinemas were eyeing a July 1 re-start. The decision was made in concert with the industry, Philippe said today, in order to …
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Cineworld, the owner of Regal cinemas in the US, expects to reopen its doors for business in July. The movie-theater giant said late Wednesday it anticipates that government restrictions related to cinemas will be lifted in each of its territories in the coming months and “anticipates the reopening of all of its cinemas in July.” …
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Drive-in entertainment is having a moment. The Bel Aire Diner, which has recently experienced wild success with its drive-in movies, is not only reviving the retro film-watching format, but applying it to live comedy shows. Less than a month after kicking off its drive-in series with a screening of “Grease,” the Astoria eatery hosted a …
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The hottest ticket in New York City this summer? That would be movie screenings in a Queens restaurant’s parking lot, where scoring tickets is now a competitive sport. With quarantine making most real-life gatherings illegal, getting into the al fresco shows at Astoria’s Bel Aire Diner lot involves repeatedly hitting refresh on the eatery’s website …
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The global entertainment industry will take a $160 billion hit over the next five years as it slowly recovers from the coronavirus pandemic, according to a new report. The outbreak has already whacked Hollywood studios, which have been forced to delay the release of top grossing franchises and suspend productions of summer blockbusters under shelter-in-place …
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For weeks now, as COVID-19 restrictions across the country begin to ease (or, in some cases, even where they haven’t), national and local news outlets have relentlessly reported on a seeming torrent of people streaming into public spaces. The coverage points to a common sense understanding: Spending two months sheltering in place with little-to-no human …
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Sony said Wednesday that operating profit could fall 30 percent or more in the current fiscal year as the coronavirus hits the box office, as well as consumer demand for smartphones, video-game consoles and other electronics. The Japanese conglomerate, which owns film and TV studio Sony Pictures, sounded alarm bells as it reported results for …
Two large movie theater owners issued dire warnings on Wednesday about their ability to bounce back from the coronavirus. AMC, the nation’s biggest cinema chain, said in a regulatory filing that there’s a “substantial doubt” about its ability to “continue as a going concern for a reasonable period of time.” Companies issue “going concern” warnings …
