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NYC exhibitors escaped Mayor Bloomberg’s attempted soda ban last month. But potential future government regulation of revenue-boosting concessions still has theater owners and operators concerned. And frustrated. “[These] taxations are truly money grabs by the government”, 
Cinemark Food & Beverage VP Bob Shimmin said at a CinemaCon panel this morning. “They’re not trying to make people healthier, they’re trying to balance their budgets”. Bloomberg’s rule would have limited sales of sugary soft drinks to 16 oz.-sized cups — the smallest portion most theaters even offer. Pushing smaller cup sizes to adults would actually backfire, spins NATO’s Deputy Director of Government Affairs Todd Halstead, because it would lead to more purchasing of refills leading to larger in-theater consumption after all. He insists the NYC soda ban was just the tip of the iceberg: “What better way is there to institute a tax then to connect it to health?” READ MORE »
CinemaCon: Theater Owners Mull Healthier Concessions After Soda Ban Flap
Judge Blocks NYC Limit On Movie Sales Of Large-Sized Sodas
UPDATE, 3:18 PM: The National Association of Theater Owners says it’s “elated” by the decision. “This issue was never about obesity, nor about soda,” the group says. “This was all about power.” Indeed, the group refers to … Read More »
Theaters Gradually Losing Middle-Aged Movie-Goers: Nielsen
It may be time for studios and theaters to worry a little less about attracting young people to the movies, and a little more about appealing to people with some gray in their hair. Among those who saw at least … Read More »
Exhibition Trends Are “Negative” But Chains Can Still Consolidate: Moody’s
Theater owners and investors won’t find much encouraging news in the latest overview of the exhibition industry by Moody’s Investors Service. “Despite an increase of about 6% in US and Canadian movie theater admissions in 2012, the overall trend is negative,” the debt-rating firm’s Assistant VP Karen Berckmann says this morning. Last year’s increase shows that “appealing product will still draw people to theaters.” But attendance remains 15% lower than it was in 2002 when it came close to 1.6B. “Given alternatives for consumers’ leisure time — from video games to Netflix to web surfing — we do not expect a rebound in movie attendance,” she says. Exhibition chains also have discovered that if they continue to raise ticket prices then “they risk turning off customers and reducing attendance.” What to do? Theaters have fattened their bottom lines by improving concession offerings, selling more on-screen ads, showing alternative content (such as concerts and sports events) on slow nights, and generally cutting costs. The premium-priced tickets for 3D movies are probably a wash since they also come with higher licensing costs, but could provide some modest help as studios and theaters experiment with the format. Read More »
‘Hunger Games’ Feeds Theater Stocks While Investors Ponder Lionsgate’s Future
Looks like movie theater owners are the biggest beneficiaries on Wall Street today from the excitement over the early box office results for The Hunger Games. Carmike was +2.7%, Marcus Corp was +2.6%, Cinemark was +1.6%, and Regal was +0.6%. Although exhibition companies have done well over the last few months as ticket sales have picked up, they’re also vulnerable when a big film bombs the way Disney’s John Carter did. What about Lionsgate, which produced and distributed Hunger Games? Its stock price bounced around today before ending at $14.53, virtually flat at -0.1%. Investors already exhibited their extravagant expectations for the film by bidding Lionsgate up 10% over the last five days – not to mention the 74.6% jump since the beginning of January, and the 138.6% increase over the last 12 months. Read More »
AMC Makes Concession To Fat Moviegoers
Last year at ShoWest, Sony Pictures Entertainment CEO Michael Lynton appealed to theater owners to introduce healthy foods at concession stands to combat obesity in kid moviegoers. This morning, Lynton lauded AMC for listening. Other chains are helping out by making fattening snacks, popcorn and soda so expensive it’s prohibitive … Read More »
UK Cinema Chain Vue Sold For $726 Million
Doughty Hanson, the private equity firm, has bought Vue Entertainment from investor Cavendish Square Partners and the existing management team. Now the UK’s 3rd-largest cinema chain wants to take over rival Cineworld or even market leader Odeon/UCI. Such a … Read More »
‘Inception,’ Growth Bolster IMAX Earnings
The company’s solid third quarter was driven mainly by aggressive expansion as the large-screen format chain signed up 100 new theaters. Revenue jumped to $51.1 million from $43.5 million in the same quarter last year, and earnings rose to $6.7 million … Read More »
IMAX Inks Largest Theatre Deal In Asia
New York, NY– September 20, 2010 – IMAX Corporation today announced that CJ CGV HOLDINGS, LTD, a subsidiary of CJ CGV Co. Ltd., the leading theatre exhibitor in Korea, and the number one exhibitor in Asia, has signed an agreement to install 15 digital IMAX theatre systems in new locations planned for The People’s Republic of China. The deal marks IMAX’s single largest theatre deal in Asia and expands its existing relationship with CJ CGV, which already
Odeon: 50% Of Box Office 3D Within 3 Years
So says Rupert Gavin, CEO of Odeon & UCI Cinemas, speaking on BBC radio. Odeon is spending £70 million ($107 million) converting screens to digital. Odeon expects to have 500 digital projects installed by the end of summer, with … Read More »
Curzon Opening Cinemas in Bookstores
Remember I told you about Luke Johnson, the ex-Channel 4 chairman who also presided over the demise of Borders UK, warning High Street book shops are doomed? Curzon Artificial Eye, the arthouse distributor/exhibitor, is building a cinema … Read More »
IT’S GOOD TO BE BAD! ‘Despicable Me 3D’ Doubles Expectations For $60.1M Weekend; R-Rated ‘Predators’ On Target With $25.3M; ‘Eclipse’ Global Cume Now $456M; See How This Hollywood Summer Is Doing Overseas
SUNDAY AM: It was a great weekend at the box office with the total tally $202M, up an impressive +41.4% from last year. And that doesn’t factor in next week which features the most anticipated movie of the summer, Chris Nolan’s Inception. Year to date, 2010 revenues are running $5.9M, that up 5.06% … Read More »
UK Box Office Rises To $775M in First Half
That’s a rise of 3% year-on-year. And the best is yet to come this month and next, with the release of Toy Story 3 – tipped to be the biggest movie of the year – adult must-see Inception and Twi-hard threequel Twilight: Eclipse. Around 25 million people are expected to … Read More »
IMAX Says 2Q Box Office Grosses Up 37%
‘Eclipse’ Cast To Mix With U.S. Movie Mobs
The TWILIGHT SAGA: ECLIPSE stars will be visiting theaters across the U.S. to introduce the latest film in the franchise now shattering box office records. Beginning Friday July 2nd and extending through the holiday weekend, approximately 20 cast members will be … Read More »
Cineworld Income Rises 4% Over 7 Months
The UK multiplex operator says total revenue, including ticket sales and popcorn, rose by 3.7% in the 26 weeks to July 1. Box office has increased by 4.1% including this month’s World Cup month. But the ticket sales rise was offset … Read More »
‘Eclipse’ Top Advance Ticket Seller Of Year
EXCLUSIVE: So many Twi-hards stood in line since Monday in advance of tonight’s Eclipse premiere that Summit Entertainment had to set up a 2nd tent city on Chick Hearn Boulevard to accommodate them all outside the Nokia Theater … Read More »
Digital 3D Screens Rise By 70% in 2010
There will be 15,300 digital 3D screens worldwide by the end of this year. This compares with 8,989 3D screens at the end of 2009. So says Screen Digest in its latest report, Digital Cinema Moves Into the Mainstream. Sixty per … Read More »
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