Box-office grosses are an exercise in expectation readjustment. This is second weekend of an anticipated 13-week dry spell, one in which grosses may fall to 60 percent below their levels in 2019. This week, Cineworld, the London-based owner of #2 domestic circuit Regal Theaters, released a grim near-term assessment of their financial situation: “Lower levels of admissions are due to a limited film slate that is anticipated to continue until November 2022 and are expected to negatively impact trading and the group’s liquidity position in the near term.”
No soft sell there: The statement’s literal bottom line warned investors and stockholders of a rocky financial period to come. This isn’t expected to immediately impact theater operations, but it’s a stark contrast to AMC Entertainment’s aggressively optimistic messaging — despite it own long-term debt issues. Summer results vastly improved, but theaters remain a long way from solvency.
Which brings us to this week,...
No soft sell there: The statement’s literal bottom line warned investors and stockholders of a rocky financial period to come. This isn’t expected to immediately impact theater operations, but it’s a stark contrast to AMC Entertainment’s aggressively optimistic messaging — despite it own long-term debt issues. Summer results vastly improved, but theaters remain a long way from solvency.
Which brings us to this week,...
- 8/18/2022
- by Tom Brueggemann
- Indiewire
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