Not only did the Sony-Marvel collaboration shatter box office sales records set prior to the pandemic by raking in proceeds from the second-highest weekend debut in history, it also ensured the U.S. cinema industry would tally more than $4 billion in total ticket sales for 2021. ″‘No Way Home’ proves that people will go back to cinemas if the … [Read more...]
Sunset Studios to be built in the UK for likes of Amazon and Netflix
The development, which is subject to planning permission, is being funded by Blackstone Real Estate Partners and Hudson Pacific Properties. The companies have paid £120 million ($167 million) for a 91-acre site in Broxbourne, Hertfordshire, which is located nearly 20 miles north of the capital. Source: Sunset Studios to be built in the UK for … [Read more...]
Hollywood mourns the loss of ArcLight and Pacific theaters
Towering 75 feet tall, the Pacific Cinerama Dome on Sunset Boulevard in downtown Los Angeles is a fixture in the community. On Monday, its owner, Decurion, announced that it would not reopen after shuttering due to the coronavirus pandemic.The decision by the company, which owns the Pacific Theatre and ArcLight Cinema chains, was a crushing blow to … [Read more...]
AMC hopes to raise $125 million in fresh funding round as it fights bankruptcy
Movie theater chain AMC is hoping to raise $125 million in fresh capital to stave off bankruptcy by selling 50 million shares in a new funding round, the company said Wednesday. The largest cinema chain in the world raised $104 million earlier this month after selling roughly 38 million of 200 million in available shares. The company is trying … [Read more...]
Regal shuttered 500 theaters two weeks ago, now it’s opening up 11 in New York
Regal, owned by Cineworld, is reopening 11 locations in New York state starting this Friday. The announcement comes days after Gov. Andrew Cuomo said that movie theaters outside of New York City would be permitted to reopen at a limited capacity. Cineworld’s decision to reopen its New York locations showcases the importance of this market to the … [Read more...]
New York City’s 45 movie theaters make up 40% of the metro box office — and only one of them is open
The New York metro area accounts for 7.4% of the total domestic movie box office. New York City’s 45 theaters account for 40% of the area’s ticket sales, and only one of those theaters — a drive-in — is open, because of the coronavirus. “The temporarily sidelined 5 boroughs ... are a powerhouse when it comes to the generation of box office … [Read more...]
