Carmike Cinemas this morning joined the parade of exhibition companies that attributed lousy 1Q earnings to the fact that Hollywood didn’t serve up 3D hits that could match last year’s standouts: Fox’s Avatar and Disney’s Alice in Wonderland. The chain’s net loss grew to $18.4 million from $3.5 million in the same period last year on revenues of $96.2 million, down 22%. The loss, at $1.44 a share, far exceeds the average estimate among analysts of a 49 cent loss. ”Despite the slow start, we are optimistic about the balance of 2011,” CEO David Passman said.
EXCLUSIVE: There’s an accusation that Hollywood studios are holding back their hottest 3D Blu-ray releases, including Avatar 3D and Toy Story 3, until they see how much demand there is for the new format. This is despite manufacturers needing to sell 3D BD players in the run-up before Christmas. London based consultancy Screen Digest says studios including Fox, Paramount, Universal, and Warner Bros are only making a handful of 3D Blu-Ray titles available on the shelves before December –- and risking choking off demand for what Blu-ray’s long-awaited killer app. Screen Digest predicts that, by 2014, 75% of U.S. homes that have 3D-enabled TV sets will be able to show 3D BDs. And that 28% of U.S. homes will have 3D TVs within 4 years. Right now, only 25 3D BD discs will go on sale before Christmas, but only 6 of these will not be bundled along with 3D hardware. This means
LOS ANGELES (July 7, 2010) _ Twentieth Century Fox and James Cameron today announced that AVATAR: SPECIAL EDITION will be released in theaters August 27, in a limited engagement and exclusively in Digital 3D and IMAX 3D.