EXCLUSIVE: Those in the city who anticipate that one of the other major exhibition circuits will be in line with the AMC and will be looking for their own 17-day theatrical window-PVOD deal with Universal will soon realize that it will be a cold day in hell.
Cineworld CEO Mooky Greidinger, who oversees the world’s second-largest chain, says exclusively that “we don’t see any business sense in this model” for Universal and AMC’s agreement on a 17-day movie theater window, with the option to go to PVOD.
“Even if we don’t know all the details and are constantly analyzing any shift in the industry, we are analyzing it. “People have to be aware that the first big film from Universal comes in six months, so there̵7;s no pressure,” said Greidinger. “We clearly see it as the wrong move at the wrong time. Obviously, we’re not changing our rules for showing only movies that respect the theater window. “
Universal and AMC theaters will make peace, break the theater window for 17 days with the possibility for PVOD after
Cineworld’s response should come as no surprise, as it’s the same message Greidinger made loud and clear in April, when the AMC publicly fought Universal for theatrical PVOD. Greidinger then said, “Again, we’re not going to show movies that don’t respect windows.”
Cineworld’s Regal is the second largest chain in the United States with 7,155 screens in 542 theaters in 42 states. In total, Cineworld operates in 10 countries with 787 locations, with 9,500 screens.
Universal has offshore distribution in the MGM Bond film No time to die in November with the planned release of the following films for the rest of the year: MGM candyman October 16 DreamWorks Animation’s The Croods 2 December 23 and the historical period of Tom Hanks News from the world December 23. His great films will not be available until 2021 F9, Jurassic World: Dominion and Minions: The Rise of Gru, so it is a long way to see if this agreement has any impact on the whole industry. Cinemas are trying to reopen with Warner Bros. principle and until then we don’t know what the business will be like.
In addition, I also understand that this AMC-Universal agreement is an experiment at the state level and that the conditions for whether this agreement will fall on foreign markets have yet to be decided. Three-quarters of the World’s Fair is international, and sources say Universal will find it difficult to reach international agreements.
Many in the distribution and exhibition also question the notion of how long AMC and Universal have been “multiannual”. Is it two years? Because it’s not really a threat. If four years is five years, it will be interesting.
Meanwhile, when Cinemark arrived on Tuesday, it was not available for comment. Yesterday, many filmmakers assumed that the Plano chain in Texas would not be quick to find an agreement similar to that of AMC and Universal in their works. Although Cinemark CEO Mark Zoradi mentioned recent revenues in June, “We are open to talking to study partners about alternatives we can consider.”
However, in the same month, Zoradi further explained that “Big films, the ones that actually count, must be financially theatrical. It’s a trade of more than $ 40 billion. In 2019, that was $ 42 billion worldwide. And in some cases, half or more of the revenue stream from major theatrical films comes from theaters around the world. You can’t just cut it out and you think the economy will work. And honestly, studies acknowledge that. Disney clearly does, Warners does, and I think Universal makes their big movies. That’s why they like movies F9, Jurassic World: Dominion and Minions: The Rise of Gru, it will all be theatrical because they want such a high per capita income that they get out of the theater. “
In addition, NATO did not issue a response to the AMC-Universal agreement yesterday, despite firing it in April for deciding on the day and date of the theater’s PVOD on Trolls World Tour.
Yesterday, I called a deadline for a medium-sized buyer about NATO and his silence about the AMC-Universal agreement: “Shouldn’t NATO have stood up and represented us? What is happening in NATO? You are the voice for us. You’re the reason we can’t collide. “
Most recently, AMC went exclusively this way with Paramount in 2015 for an abbreviated state theater release Guide Scouts to the Zombie Apocalypse and Blumhouse’s Paranormal activity: Spiritual dimension, it ended up as a disaster, when both films died at the box office, respectively. with a domestic $ 3.7 million and a domestic $ 18.3 million. The exhibiting competitors were struck by Paramount’s then exclusive deal with AMC and refused to participate in the experiment in the studio, even though they were contracted to share in home entertainment revenue.
By the way, talk to some of the independent exhibitors who took part in this Paramount-AMC experiment and find that they weren’t moving along the way.