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| Impact If Regal Cinemas Close https://www.worldofkj.com/forum/viewtopic.php?f=12&t=89490 |
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| Author: | Corpse [ Fri Aug 19, 2022 3:54 pm ] |
| Post subject: | Impact If Regal Cinemas Close |
Regal's parent company, Cineworld, is preparing to declare bankruptcy due to lower than expected ticket sales. According to Google, they have 505 theaters in the US and 790 theaters worldwide. So, if they close, what sort of impact could be expected at the box office, namely in the US? |
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| Author: | zwackerm [ Fri Aug 19, 2022 4:04 pm ] |
| Post subject: | Re: Impact If Regal Cinemas Close |
It would be way harder to find a movie theater. majority of theaters around here are regal. A few amcs, movie taverns and cinemarks |
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| Author: | Flava'd vs The World [ Fri Aug 19, 2022 4:20 pm ] |
| Post subject: | Re: Impact If Regal Cinemas Close |
Couldn't amc or cinemark just buy all their theaters? Though I imagine ticket prices would go up with one less competitor in the ring. |
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| Author: | Corpse [ Fri Aug 19, 2022 6:26 pm ] |
| Post subject: | Re: Impact If Regal Cinemas Close |
Regal closing would be a pretty big inconvenience around here. I know of one where it's the only theater within at least 50 miles, so all those people would be screwed. |
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| Author: | Excel [ Fri Aug 19, 2022 6:43 pm ] |
| Post subject: | Re: Impact If Regal Cinemas Close |
No doubt someone would takeover operation for there vast majority of those. |
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| Author: | SolC9 [ Fri Aug 19, 2022 10:30 pm ] |
| Post subject: | Re: Impact If Regal Cinemas Close |
Flava'd vs The World wrote: Couldn't amc or cinemark just buy all their theaters? Though I imagine ticket prices would go up with one less competitor in the ring. Marcus might be able do it too, but that would be a sizeable risk for them. |
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| Author: | O [ Fri Aug 19, 2022 10:59 pm ] |
| Post subject: | Re: Impact If Regal Cinemas Close |
Maybe Cineplex (CAN) could do it. Would be ironic since Cineworld originally tried buying Cineplex, tried backing out due to the pandemic, and then was ordered by the courts to pay Cineplex a breakup fee which added to its potential debt... |
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| Author: | Keyser Söze [ Sat Aug 20, 2022 12:41 am ] |
| Post subject: | Re: Impact If Regal Cinemas Close |
if its closed it will have a huge impact. Regal is 2nd only to AMC in domestic BO. I think impact is 20% of overall BO. Of course AMC/Cinemark or other smaller chain will be busier but they will not be able to capture all the capacity filled by Regal. That said there is no talk of it closing though as part of Chapter 11 I expect many locations to close. Especially ones doing poor business. We will know in coming months. |
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| Author: | Algren [ Sat Aug 20, 2022 12:53 am ] |
| Post subject: | Re: Impact If Regal Cinemas Close |
Isn't it likely that if it goes bankrupt, its locations will be split up and sold to multiple different buyers? Cinemark or AMC might not want or be able to afford all of them. There must be independent or state chains that would absorb some of these locations into their fold. |
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| Author: | Keyser Söze [ Sat Aug 20, 2022 7:23 pm ] |
| Post subject: | Re: Impact If Regal Cinemas Close |
Pacific cinemas closed due to COVID shutdown and we still dont have arclight theaters back including the iconic Archlight dome in hollywood which was among the busiest theaters(supposedly did $15 million in 2019). Logistics of another buyer able to take over a bankrupt property wont be easy. It will take a while or they might repurpose it for other things. |
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| Author: | Corpse [ Sat Aug 20, 2022 10:01 pm ] |
| Post subject: | Re: Impact If Regal Cinemas Close |
What I also find interesting is the lower ticket sales than expected claim. We've had a lot of big films over the past 9 months. 7 $300m+ earners: 3 of which did $400m+, 1 of which has done $600m+ earner (soon to be $700m), and finally, 1 of which did $800m+ earner. And since they're the #2 chain, surely they've had to contribute quite a bit to these films, right? Although, maybe all the notable films that bombed like Morbius, Fantastic Beasts, Lightyear, Death on the Nile, Matrix, West Side Story, etc., took their toll and erased any gains the major films gave them. For every blockbutser or overperformer, there's sort of been a bomb or underperformer to match them. |
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| Author: | Flava'd vs The World [ Sun Aug 21, 2022 12:35 am ] |
| Post subject: | Re: Impact If Regal Cinemas Close |
I think the amount of films is just way lower than pre-covid. Just take last weekend, where Bodies Bodies Bodies was the highest opener at $3.5M. Even if something like Day Shift flopped with a $10M opening, those performances add up. Now throw Prey in there, which probably would have done pretty well with its strong marketing and reviews and we are close to a proper August. |
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| Author: | Algren [ Sun Aug 21, 2022 5:18 am ] |
| Post subject: | Re: Impact If Regal Cinemas Close |
Yes, if you look pre-COVID some weekends the Top 17 movies were all above $1 million. These days we're lucky if the Top 10 are all above $1 million (although this has been getting better, but perhaps it was too little too late), and as we know cinemas rely heavily on larger income percentages the later on in a movie's run. So it's purely down to just a lack of product to get bums on seats and popcorn in mouths. |
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| Author: | Excel [ Sun Aug 21, 2022 3:07 pm ] |
| Post subject: | Re: Impact If Regal Cinemas Close |
One dynamic to watch over the next few years is content making the jump from streaming to theaters. MULTIVERSE OF MADNESS made way more money than it ever would have. few years ago, no doubt helped by many things - one of them being the success of Wandavision. Say Netflix decides to make the final episode of STRANGER THINGS a 2 hour film that would have exclusive theatrical release. That would be a massive pop culture event the likes of which would scare away even Marvel. The value of that final episode just went top GREATLY to Netflix. Same deal would apply to GAME OF THRONES, EUPHORIA, etc. |
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| Author: | Barrabás [ Sun Aug 21, 2022 4:47 pm ] |
| Post subject: | Re: Impact If Regal Cinemas Close |
If the Game of Thrones finale had been a 3hr movie it would've had a run like $100M OW / $200M total lol. |
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| Author: | O [ Sun Aug 21, 2022 5:15 pm ] |
| Post subject: | Re: Impact If Regal Cinemas Close |
Pretty sure Dr Strange benefitted most from being the follow up to Spider-man which made $800M 6 months earlier. Wandavision was well received but would not nearly have had the impact to channel moviegoers that Spider-man had. Same effect as Captain Marvel making $425M opening so closely to Avengers finale. |
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| Author: | MadGez [ Tue Aug 23, 2022 12:00 am ] |
| Post subject: | Re: Impact If Regal Cinemas Close |
Yeah - I'd say Dr Strange MoM made 95% of its BO off the back of the MCU juggernaut and Spidey NWH. Wandavision would have contributed no more than 5%. |
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| Author: | Algren [ Tue Aug 23, 2022 12:48 am ] |
| Post subject: | Re: Impact If Regal Cinemas Close |
Yes, if I had to put percentages to it, I'd go: 35% - No Way Home goodwill / expected follow-up 25% - End of Pandemic elation (what Nolan wanted Tenet to be) 20% - Being part of the MCU in general 10% - Doctor Strange sequel 5% - WandaVision follow-up 5% - Other factors, such as people thinking Tom Cruise or the X-Men would be in it And thus, the movie didn't deliver and had shockingly bad legs. |
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