RIP, Theaters? Regal Considering “Temporary” Closure, while AMC Has Six Months of Liquidity Left

Tsing

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Following MGM’s decision to delay 007 film No Time to Die, British cinema giant Cineworld warned over Twitter that it was considering closing down all of its U.K. and U.S. cinemas. That would include Regal Cinemas, which comprises over 540 venues in the States.



“We can confirm we are considering the temporary closure of our U.K. and US cinemas, but a final decision has not yet been reached,” the cinema giant tweeted. “Once a decision has been made we will update all staff and customers as soon as we can.”



We can confirm we are considering the temporary closure of our U.K. and US cinemas, but a final decision has not yet been reached. Once a decision has been made we will update all staff and customers as soon as we can.— Cineworld Cinemas (@cineworld)...
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No surprise there.

Theaters were already in trouble before the pandemic hit. Surprisingly, people find it more convenient to watch their content at home, where they don't have to deal with other people on their phones, crinkling their bags, blocking their view, etc. and where they can pause for bathroom brakes or to refill that tasty beverage.

Theaters still do have better screen sizes and sound, but home gear is getting surprisingly good, and you can build a very nice sounding home theater system on a budget these days.

At this point the biggest benefit theaters have left is that they get the content first, before home viewers can. And it seems like the film studios are getting closer to being willing to re-evaluate that arrangement.

The Pandemic has just been the Coup de Grace.

I don't think theaters are going away completely, but I wouldn't be surprised if the big chains go under, leaving it as more of a niche thing for small independent operators, in more densely populated areas, where there is a large enough customer base.

Sadly, as with seemingly everything else, this will impact poor people in rural communities the most. Those who can't afford their own home systems, and who don't live somehwhere where the population desity results in a large enough customer base for continued operation of a theater.
 
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Drive-In,Bit**es!!!!!

Only downside of drive-in,cold and snow/rain.
 
Here's a thought. Maybe if movies didn't cost $20 a ticket, plus $$$ for popcorn and a soda... maybe more people would care to go? After covid, of course.

OR give out complementary download codes for the movie you just paid a ton of money to see? Available to redeem after the initial theater run, of course.
 
Current chains will die, the some foreign money will come in and buy the shell of the dead theater and rebuild different. That or movie studios will buy them, which, who cares.
 
Uvilla said:
Current chains will die, the some foreign money will come in and buy the shell of the dead theater and rebuild different. That or movie studios will buy them, which, who cares.
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I wouldn't be surprised to see movie studios propping up theaters and for good reason. They get a huge chunk of their money from theater viewings. Without theaters the gravy train will stop. While you can get some people to pay extra for on demand viewings of new movies right now that's not going to work in the long run. People will simply decide it's not worth the money because they aren't getting the theater experience.

I think few people realize that the theater experience is more than a big screen or better sound. Even with the distractions of other people in the theater it's still a better or at least different experience than viewing something at home. There's much more to it for many people. It can be an excuse to get out of the house which at home viewing doesn't help with. Maybe you're simply wanting to get away from the kids or family for a couple of hours. For some it's simply a date and something to do that is different than the usual everyday grind. For others it's an event for the night, maybe getting dinner before or after the movie. Also a way to spend time with friends that isn't in your own home.

There are many reasons why people still go to the theater and I'm willing to bet few of them can be fulfilled with a home theater setup.
 
Uvilla said:
Current chains will die, the some foreign money will come in and buy the shell of the dead theater and rebuild different. That or movie studios will buy them, which, who cares.
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I would have to look, but at one point movie studios were not allowed to own movie theatres due to some shenanigans in the 40's.
 
Paul_Johnson said:
I would have to look, but at one point movie studios were not allowed to own movie theatres due to some shenanigans in the 40's.
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The Paramount Decrees, which were lifted in August this year, prevented production companies from entering into exclusivity deals with theater chains and/or only showing movies at theaters they owned or had a vested interest in while fixing leasing prices and licensing agreements. The courts originally found that the practices of the movie studios violated the Sherman Antitrust Act.

https://supreme.justia.com/cases/federal/us/334/131/
 
Armenius said:
The Paramount Decrees, which were lifted in August this year, prevented production companies from entering into exclusivity deals with theater chains and/or only showing movies at theaters they owned or had a vested interest in while fixing leasing prices and licensing agreements. The courts originally found that the practices of the movie studios violated the Sherman Antitrust Act.

https://supreme.justia.com/cases/federal/us/334/131/
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Ah, there you go.
 
Yea I remember hearing about that being lifted.
 
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