What's happened to Cineworld?

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cccashbacklover
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Re: What's happened to Cineworld?

Post by cccashbacklover » Sun Oct 04 2020 9:22am

kevinchess1 wrote:
Sun Oct 04 2020 8:46am
My Independent local cinema is still closed with no idea about when it will reopen.
Neither Cineworld nore Odeon have re-opened in Bristol ( and probably other towns and cities) since Lockdown
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Re: What's happened to Cineworld?

Post by Chadwick » Wed Oct 07 2020 10:40pm

cccashbacklover wrote:
Sun Oct 04 2020 9:22am
Neither Cineworld nore Odeon have re-opened in Bristol ( and probably other towns and cities) since Lockdown
Cineworld are shut until further notice.
They (like most other big cinemas) had been banking on Tenet and No Time To Die bringing people back in and showing it was safe. Tenet did not succeed on that score, and No Time To Die is now postponed until April 2021.

As noted earlier on this thread, Cineworld had recently taken over Regal and with it a large debt. Knocking its revenue on the head may be the final blow.
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Re: What's happened to Cineworld?

Post by Sarah » Thu Oct 08 2020 9:05am

It could be argued that Tenet hasn't done too badly; it's banked $307.7 million against a budget of $200 million, which isn't exactly a failure in these unusual times regardless of how it might otherwise have performed. No Time To Die would surely have done even better and whilst the studio wants at least $1billion there's no guarantee they'll get that in 2021.
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Re: What's happened to Cineworld?

Post by kevinchess1 » Thu Oct 08 2020 10:27am

James Bond 'Do you expect me to talk?'
'No Mr Bond, we expect you to save the cinemas.' :D
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Re: What's happened to Cineworld?

Post by AAAlphaThunder » Thu Oct 08 2020 7:48pm

Chadwick wrote:
Wed Oct 07 2020 10:40pm
cccashbacklover wrote:
Sun Oct 04 2020 9:22am
Neither Cineworld nore Odeon have re-opened in Bristol ( and probably other towns and cities) since Lockdown
Cineworld are shut until further notice.
They (like most other big cinemas) had been banking on Tenet and No Time To Die bringing people back in and showing it was safe. Tenet did not succeed on that score, and No Time To Die is now postponed until April 2021.

As noted earlier on this thread, Cineworld had recently taken over Regal and with it a large debt. Knocking its revenue on the head may be the final blow.
And let's not forget the rise of online streaming and the shift in business strategy to release more and more movies online.
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Re: What's happened to Cineworld?

Post by garindan » Thu Oct 08 2020 9:31pm

AAAlphaThunder wrote:
Thu Oct 08 2020 7:48pm
And let's not forget the rise of online streaming and the shift in business strategy to release more and more movies online.
I think this point is most likely the death knell for the big cinema chains. Covid has caused the temporary closure of cinemas but also given film studios the chance to try out alternative approaches. I can't see how big cinema chains can open again any time soon and without the prospect of new films they are dead and buried. Boutique cinemas on the other hand - well I see a potential bonanza happening there, so older classical style cinemas showing older films, offering a more interesting service than cheesy nachos, syrup cola and vats of popcorn at ridiculous prices.....
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Re: What's happened to Cineworld?

Post by AAAlphaThunder » Fri Oct 09 2020 6:28pm

garindan wrote:
Thu Oct 08 2020 9:31pm
AAAlphaThunder wrote:
Thu Oct 08 2020 7:48pm
And let's not forget the rise of online streaming and the shift in business strategy to release more and more movies online.
I think this point is most likely the death knell for the big cinema chains. Covid has caused the temporary closure of cinemas but also given film studios the chance to try out alternative approaches. I can't see how big cinema chains can open again any time soon and without the prospect of new films they are dead and buried. Boutique cinemas on the other hand - well I see a potential bonanza happening there, so older classical style cinemas showing older films, offering a more interesting service than cheesy nachos, syrup cola and vats of popcorn at ridiculous prices.....
The tables have indeed been turned. The independent cinemas in my area are open and as a tribute to my childhood memories at the aforementioned independent cinemas me and Mrs AAAlphaThunder have watched a few movie to help keep them financially ticking.

A different atmosphere, better "real" food and all the staff know me so it's a authentic personal experience.
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Re: What's happened to Cineworld?

Post by Chadwick » Sat Oct 10 2020 9:05am

garindan wrote:
Thu Oct 08 2020 9:31pm
AAAlphaThunder wrote:
Thu Oct 08 2020 7:48pm
And let's not forget the rise of online streaming and the shift in business strategy to release more and more movies online.
I think this point is most likely the death knell for the big cinema chains. Covid has caused the temporary closure of cinemas but also given film studios the chance to try out alternative approaches. I can't see how big cinema chains can open again any time soon and without the prospect of new films they are dead and buried. Boutique cinemas on the other hand - well I see a potential bonanza happening there, so older classical style cinemas showing older films, offering a more interesting service than cheesy nachos, syrup cola and vats of popcorn at ridiculous prices.....
I think you could be right. With the advent of larger 'normal' TV screens and affordable sound systems, watching a film at home 'on TV' is quite a different experience to when I was young. Throw in the cheap instant accessibility of a streaming service and it's an inviting prospect. You don't even need to be kind and rewind. Covid is now forcing the pace of that shift and the big multiplex cinemas will suffer the most as they need blockbusters and lots of bums on seats to survive.

The small cinemas on the other hand have a business model that relies on fewer screens and therefore fewer films. They are also much more inclined to show an older classic.

There's a couple near me that are restored art deco buildings and they are fabulous inside. Not just visually stunning; the seats are huge and plush, the bar serves drinks in glasses and they installed a modern digital projection and sound system along with the old 35mm projector, so you get the best of both worlds. They've had social distancing from the day they opened - you can't touch the seat in front when you stretch your legs out! Down in the stalls, the seats are arranged around tables (rotating chairs) and there is a bar at the back of the stalls that you can visit during the film. It really is a very different experience, and the ticket prices are the same as the big multiplex (albeit no Meercat Movies).

I think you're right, that the bland multiplexes will struggle to make ends meet, but the smaller venues will survive because they're geared up for smaller footfall anyway. At the other end of the scale, the top end screens, such as Imax and 3D should also survive, because if you're going to go out to the cinema now, you might as well make it an experience.
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Re: What's happened to Cineworld?

Post by planteria » Sat Oct 10 2020 10:32am

an investment in Netflix/Amazon/Disney would surely make more sense than investing in a cinema operator.
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Re: What's happened to Cineworld?

Post by Sarah » Sat Oct 10 2020 10:40am

The movie industry will presumably have to make cheaper blockbusters if cinema capacity doesn't return to previous norms in the medium term; perhaps we've just seen the end of a contemporary golden age.
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