EXCLUSIVE: People in the city recognize that one of the other big exhibition circuits will suit AMC and look for its own 17-day theatrical window-PVOD with Universal soon realizing that it will be a cold day in hell.
Mickey Gregginger, CEO of Cineworld, which oversees the world’s second-largest chain, specifically tells Deadline that “we don’t see any business sense in this model” when it comes to films for Universal and AMC 17- The day comes with an option for a dramatic window. After that go to PVOD.
“While we do not know the full details and we are always analyzing any move in the industry, we will analyze it. People need to be aware that the first major film from Universal is coming in only six months, so there is no pressure here, ”said Greisinger. “But we clearly see this as a wrong step at the wrong time. Clearly we are not changing our policy regarding only showing films that are honoring the theatrical window. “
Universal and AMC theaters make peace, with options after PVOD will decrease dramatic window for 17 days
Cineworld’s reaction should come as no surprise as it is the same message that Greiginger had loudly and clearly returned in April, when AMC was publicly fighting over theatrically-dramatic PVOD. Greidinger then stated, “We make it clear again that we will not show films that fail to honor the windows.”
Cineworld’s Regal is the second largest in the US with 7,155 screens in 542 theaters in 42 states. In total, Cineworld operates in 10 countries with 787 sites, with 9,500 screens.
Universal has offshore distribution on MGM’s bond movie No time to die With the following films releasing for the rest of the year in November: MGM Sweet seller On October 16, DreamWorks Animation The crowds 2 Desemer on 23, and Tom Hanks feature historical period World news On 23 December. Its big movies are not together till 2021 F9, Jurassic World: Dominion And Minions: The Rise of Gru, So it is a long way before we see if the deal has any kind of impact on the overall industry. Movie Theaters Trying to Reconnect with Warner Bros. theory And we don’t know what business will be until then.
Apart from this, I also understand that this AMC-Universal deal is a stateside experiment, and the conditions are still to be fixed for whether the deal is reduced in foreign markets. Three-quarters of the world’s exhibitions are international, and sources say it will be difficult for Universal to reach international deals.
In addition, the perception of many in distribution and exhibition questions how long AMC and Universal’s “multi-year” is. Is it two years Because it is not really a threat. If it is four to five years, it will become interesting.
Meanwhile, Cinemark was not available for comment when it arrived on Tuesday. The perception by many film executives yesterday is that the Plano, Texas-based chain will not be in a hurry to take a deal similar to AMC and Universal has it in the works. This, despite the fact that Cinemark CEO Mark Zordi has recently noted on Earnings, “We are open to negotiating with studio colleagues as to the options we can consider.”
However, Zoradi proceeded to Deadline that same month, stating that “big movies that really count, these films have to go dramatically from a financial standpoint. It’s a business of over $ 40 billion. In fact, In 2019, it was $ 42 billion worldwide. And in some cases, half or more of the revenue stream on big theatrical films is coming from theatrical worldwide. You just can’t cut it and think that Economics is about to work. And honestly, the studios recognize that. Disney clearly does, Warner does, and I think Universal does on their big movies. And that’s why movies like F9, Jurassic World: Dominion And Minions: The Rise of Gru, These are all going dramatically because they want higher revenue per capita which they get out of the dramatic. “
In addition, NATO did not issue a response to the AMC-Universal deal yesterday, despite the latter’s slogan in April for its decision to go on and date. Troll World Tour.
A mid-size exhibition film buyer for Deadline on AMO-Universal Deal yesterday about NATO cried: “We didn’t stand NATO and represent us? What’s happening on NATO? You’re the voice for us. You’re the reason.” That we cannot collide with. “
The last time AMC terminated this route with Paramount was in 2015 Scout guide for zombie apocalypse And Blumhouse is Paranormal Activity: The Ghost Dimension, It wound up being a disaster, with both films dying at the box office with $ 3.7M domestic and $ 18.3M domestic respectively. Rival exhibitors were turned down by Paramount’s then-exclusive deal with AMC and refused to participate in the studio’s experiment, even though they were contracted to receive a portion of Pixels’ initial home entertainment revenue.
By the way, talk to some indie exhibitors who participated in that Paramount-AMC experiment, and you will learn that they were not rolling in the dough at all.