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...]
The arts of sound design and engineering: Roads less taken
Sound is an art and a craft that many people appreciate but few know much about. As George Lucas said, “Sound is half the experience,” and it is the power of great sound that enhances the experience of a film, adds texture and detail to scenes, and has the power to transport the audience on an immersive journey. Today, music and audio … [Read more...]
Fourth-generation movie theater operator says chain is months from bankruptcy
B&B Theatres, the sixth largest cinema chain in the U.S., says it’s a few months away from bankruptcy. Without new content or financial aid from the government the family-owned business may not survive the pandemic. The National Association of Theatre Owners estimates that if revenue declines continue, 69% of small and midsized cinema … [Read more...]
Cineworld CEO says AMC-Universal deal is ‘wrong move at the wrong time’
Universal may have struck a deal with the largest theater chain in the U.S., but it may find itself at odds with the second-largest theater chain if it looks to deviate from the traditional movie theater release model. “At Cineworld/Regal, we are not changing our policy with regards to showing only movies that respect the theatrical window,” … [Read more...]
