The pandemic has taken a toll on movie theaters. Earlier this year, it was announced that the Los Angeles ArcLight Cinemas and Pacific Theatres would be closing for good, including the famous Hollywood Arclight multiplex on Sunset Boulevard and its iconic Cinerama Dome. The news upset cinephiles, and now here’s some more news that might not sit so well. AMC Theatres is in the midst of talks to acquire ArcLight Cinemas and Pacific Theatres venues.
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AMC, Regal, and Cinemark, the three largest movie theater chains in the United States, announced today that guests will no longer be required to wear masks at their locations, provided that those guests have received both doses of the COVID-19 vaccine. Masks will now be optional for vaccinated guests, and “strongly encouraged” for everyone else.
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The future of movie theaters remains somewhat up in the air right now, and AMC – the largest theater chain in the United States – is suffering. As a result, AMC has just filed to sell up to 50 million more shares of stock with the hopes of staying solvent (solvency allows a company to meet its long-term debts and financial obligations). As a result, the company’s stock was down nearly 5% as of today. AMC previously reported they would need at least $750 million to make it through 2021.
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“Warner Bros. might have just killed the Dune franchise.”
Denis Villeneuve, the filmmaker behind the mega-budgeted movie adaptation of Frank Herbert’s classic science fiction novel, does not mince words in a new editorial published by Variety. After being blindsided by the news that Warner Bros. is releasing its entire 2021 slate of films (including Dune) in theaters and on HBO Max simultaneously, Villeneuve blasted the studio’s parent company in this new editorial, saying, “AT&T has hijacked one of the most respectable and important studios in film history.”
Read more of his comments below, and get the latest update about what AMC Theatres will need to stay viable through the next year. Read More »
The entire theatrical landscape shifted yesterday when Warner Bros. announced that it would be releasing its entire 2021 theatrical slate day-and-date in theaters and on HBO Max. The film world was left reeling by this game-changing decision, most of all theater exhibitors — many of whom received a heads up only an hour before Warner Bros. broke the news. Smaller exhibitors learned only seven minutes prior to the bombshell.
So naturally, they’re all a little miffed by the decision, which many are saying could spell the end of movie theaters. Now AMC Theatres, the largest theater exhibition chain in the U.S., has issued a response slamming WarnerMedia and its intent to “sacrifice a considerable portion of the profitability of its movie studio division.”
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As coronavirus pandemic numbers continue to rise across the United States, it doesn’t look like movie theaters are going to see a big influx of audiences anytime soon, especially as the regular flu season starts to come around. In addition to increased COVID-19 cases, movie studios still aren’t releasing any major blockbusters to theaters. Since AMC Theatres said not too long ago that they could run out of cash by the end of the year, they’re now preparing to sell millions of dollars in stock. Read More »
With a complete lack of major new releases coming to theaters over the next couple months, and potentially through the rest of the year, the movie theater industry is in trouble. Cineworld just closed all of their Regal Cinemas locations in the United States (with the exception of a handful of key locations in California) last week because of how many blockbusters shifted to 2021, but AMC Theatres, along with Cinemark, pledged to stay open, but it doesn’t mean they’re in a good position at all.
AMC Theatres has revealed that if things don’t improve in the near future, they might be out of cash by the end of 2020 or sometime in early 2021. They’re not the only ones in imminent danger either, because B&B Theatres, the sixth largest cinema chain in the U.S., has announced that they’re months away from filing for bankruptcy protection if nothing changes. Needless to say, this is bad news. Read More »
Earlier this week, Cineworld made the decision to not only close all of their Regal Cinemas locations in the United States (the second largest chain here), but all of their theaters in the United Kingdom. It’s due to the fact that No Time to Die fled from being released in theaters in November and opted for a safer release in April 2021, leaving Soul and The Croods 2 as the only major studio releases over the next two months. But not all the theater chains are quite so concerned.
Both AMC Theatres and Cinemark have pledged to stay open, despite the lack of new movies to show and the uncertainty over when movie theaters in New York City and Los Angeles will be allowed to reopen. Considering how desperate of a situation these chains seemed to be in earlier this year, that’s quite a surprising development. Read More »
Cool Posts From Around the Web:
There’s a viral tweet making the rounds that made it look as if AMC was throwing caution to the wind and not enforcing social distancing between assigned theater seats as they plan to reopen this Thursday. However, according to AMC, that’s not the case. According to the theater chain, starting Monday, the ticketing engine will automatically block out one seat on either side of the purchased seat, and the technology just wasn’t in place yet to represent that via current online seating charts.
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AMC Theaters has released its plans to reopen theaters in the U.S., with an aim to open two-thirds of its locations by the date of Tenet‘s U.S. theatrical release. Starting August 20, AMC plans to open more than 100 theaters, and continue opening locations “such that about two-thirds of our theatres across the country should be open no later than September 3.”
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