Cineworld to Close All U.K. Venues

cwej

User
Joined
Feb 4, 2004
Messages
48,487
I think people are just not ready to go and at least here the capacity is capped at 25% and there’s no way they’re making any money considering their money was mostly made on concessions.


Again, I don't know if this is just because I've been seeing a thousand people a day for the last 6 weeks, but I really don't think it's about people not being ready to go (they're filling up pubs still) - it's more that there's been absolutely NOTHING released. I think they should have just taken the plunge with Bond to be honest.
 

Ellie

Super talented triple threat
Joined
Feb 3, 2004
Messages
48,518
Location
From Despair To Where
Again, I don't know if this is just because I've been seeing a thousand people a day for the last 6 weeks, but I really don't think it's about people not being ready to go (they're filling up pubs still) - it's more that there's been absolutely NOTHING released. I think they should have just taken the plunge with Bond to be honest.

Possibly. It would be like opening up the pubs but only serving a couple of types of drinks, when you know the brewery have loads of stock but are just holding back the delivery.
 

lolly

Rowena? From Kuwait?
Joined
Feb 3, 2004
Messages
156,128
I do think there is still a sizable cohort who aren't ready to go. But I'm guessing that possibly skews older than the frequent cinemagoer.
 

Ellie

Super talented triple threat
Joined
Feb 3, 2004
Messages
48,518
Location
From Despair To Where
Definitely closing on Thursday. Annoying as I have next week off work and was going to see if I could see something. Looking at what’s playing this week I thought I could squeeze something in tonight, but there’s nothing I haven’t seen apart from kids films which only play on the morning/afternoon, and it’s been 2 weeks since last going.

The Odeon down the road is huge and I could always go there and pay, but their programme is exactly the same with nothing different. Not a single classic film either.
 

Gangsta Nancy Lam

Slut's Spaghetti
Joined
Jun 6, 2012
Messages
11,379
Location
Hell
They should have just put out the new Bond film and one of their shitty identikit superhero movies (as if Black Widow wasn't going to flop already).

I know they wouldn't get the same numbers as usual, but put out a marvel movie and people will go.
 

Ellie

Super talented triple threat
Joined
Feb 3, 2004
Messages
48,518
Location
From Despair To Where
They should have just put out the new Bond film and one of their shitty identikit superhero movies (as if Black Widow wasn't going to flop already).

I know they wouldn't get the same numbers as usual, but put out a marvel movie and people will go.
I know the reasoning is that they’ll lose money with smaller audiences, but surely just keep them on for longer and relaunch again in the Spring, right? Or is there a higher risk of piracy that way? Hardly anyone downloads the cinema cam files now as they were always shit, especially for big action films.
 

Jacques

doing it for my lover
Joined
Jan 8, 2012
Messages
1,418
Location
NW2
Very sad about this, I've had my Unlimited card for 6 years now so I feel a huge sense of loyalty to them over Odeon and Vue etc and I have no desire to cancel or freeze even during this - I've only been back once since they re-opened (Onward, which I didn't to see back in March) but the two or three years where I saw 100 movies a year mean I've had my moneys worth for a while.

For me the only issue around going back is a lack of appealing content. The mask issue is a bit of an annoyance but just take in enough snacks to last two hours and then it doesn't need to be on :)

Plus you can get £5 tickets with a West End Cineworld Unlimited card at that venue only. You can’t pre-book or use the ticket machines but get them at the box office.

Doesn't even have to be the West End membership (which I don't have - my visits to the Leicester Square Cineworld are quite few and far between so I just pay the uplift on occasion), I've been to the Picturehouse quite a few times and it's still been £5. Maybe their machines can't recognise the difference.

Again, I don't know if this is just because I've been seeing a thousand people a day for the last 6 weeks, but I really don't think it's about people not being ready to go (they're filling up pubs still) - it's more that there's been absolutely NOTHING released. I think they should have just taken the plunge with Bond to be honest.

I agree that Bond should've just gone ahead. I've not kept track of Tenet's numbers week-by-week but I was very impressed by the £5m+ it did opening week. Show it in 90% of screens, the seating plans have already been adjusted for distancing - better to have it out now than in a few months time when there are no cinemas left for it to be shown in!
 

Ellie

Super talented triple threat
Joined
Feb 3, 2004
Messages
48,518
Location
From Despair To Where
I was always a bit dubious about Tenet being the one big film released. Despite Chris Nolan’s record, aside from the Dark Knight franchise he’s never going to make a stand-alone film that’s going to get every generation wanting to see it like a Bond or a Pixar which can often be a family experience.
 

Sheena

Hang on to your chair, dearie...
Joined
Feb 3, 2004
Messages
123,878
The others really should use this to push/ launch their own Unlimited cards. I’d grab a Vue one in seconds as there’s one local (Cineworld is 20 mins drive away) and there’s always a much wider range of films.
 

Ellie

Super talented triple threat
Joined
Feb 3, 2004
Messages
48,518
Location
From Despair To Where
Odeon already have a Limitless scheme. They’ve also just announced that 25% of their screens will close Monday-Wednesday - there are still some Odeon venues that never reopened after March.

It’s not a bad idea as they could use the new government payment scheme for their staff that way.
 

Sheena

Hang on to your chair, dearie...
Joined
Feb 3, 2004
Messages
123,878
Hence why I said “push”.

There is an Odeon here but it’s outside the city and shite as well. COME ON VUE! It’s an easy way to make money for nothing, surely?
 

lolly

Rowena? From Kuwait?
Joined
Feb 3, 2004
Messages
156,128
Our Cineworld never reopened. It was miles away on the edge of the city and mainly pulled from two scuzzy adjacent council estates anyway. No great loss.
 

cwej

User
Joined
Feb 4, 2004
Messages
48,487
I still think some other cinemas should just try some completely different models. We all know they make much more from their food/drinks than the films anyway - so just bring the ticket prices down substantially and you don't even need a loyalty card. Or bring prices down by £5 or something AND have a loyalty card where you get a stamp each time you go or something and 5th movie is free.

Or something like that.
 

SDF

We're all Angles in Chainz
Joined
Jun 23, 2004
Messages
18,694
Isn't that basically what the Vue have done? Prices there have got substantially cheaper over the last year or two. I haven't been to the cinema in London but it was only £6 to go to the Vue last time I went.
 

funky

User
Joined
Apr 30, 2004
Messages
81,306
They should have just put out the new Bond film and one of their shitty identikit superhero movies (as if Black Widow wasn't going to flop already).

I know they wouldn't get the same numbers as usual, but put out a marvel movie and people will go.

Fuck the people! Fuck employment and local economies and people’s mental health!

the studios have to protect their tentpoles, because box office records and positive PR and award eligibility and keeping shareholders happy is more important :):):)
 

dUb

EXCITING WEIRD
Joined
May 2, 2004
Messages
34,421
Think they're gonna be ok everyone x

Cineworld gets debt reprieve to survive closures

Cineworld has sealed another deal with creditors, including $450m in financing that the owner of the cinema chain hopes will tide it over until Hollywood studios return to more regular film release schedules.

The deal is the latest in several rounds of debt reordering and restructuring which the company has been forced into since March.

It also involved the issue of equity warrants which could hand around 10% of company shares to its creditors.

"We look forward to resuming our operations and welcoming movie fans around the world back to the big screen for an exciting and full slate of films in 2021," Cineworld's chief executive Mooky Greidinger said.

Cineworld has shut 536 Regal cinemas in the US and its 127 Cineworld and Picturehouse cinemas in the UK and Ireland, said it had cut costs to $60m a month with cinemas closed and had $750m of available cash.

While US rival AMC Entertainment has kept its doors open with enough cash until early 2021, Cineworld's base case scenario assumes it has enough money if it reopens its venues by next May.

Shares in Cineworld, which have lost three quarters of their value since the start of this year, jumped 17% in response to the deal, as stock market investors globally also welcomed more positive results from coronavirus vaccine trials.

Cineworld has been carrying heavy debt due in part to its $3.6 billion acquisition of Regal in 2018.

The company, which has placed all capital expenditure on hold, said it has agreed long-term rent deferral with key landlords, along with new lease agreements in some cases, while talks with other landlords are also ongoing.

https://www.rte.ie/news/business/2020/1123/1179839-cineworld-funding/
 
Joined
Feb 5, 2004
Messages
16,295
Location
Yorkshire
Good news.

Still far more expensive compared to Vue, £10.95 for Cineworld, £4.99 for Vue.

I do like their IMAX festivals though.
 

Sheena

Hang on to your chair, dearie...
Joined
Feb 3, 2004
Messages
123,878
Cineworld makes its money from its Unlimited Card, though. I still think Vue are missing a trick right now not jumping on that bandwagon.
 

dUb

EXCITING WEIRD
Joined
May 2, 2004
Messages
34,421
Cineworld has announced it will reopen US cinemas next month, followed by the UK in May, after signing a deal with Warner Bros to show films in theatres before they are streamed.

The company will open a handful of its Regal cinemas in the US in early April.

Godzilla vs. Kong will be the first film to make its debut in the theatres.

Cineworld said the deal with Warner Bros means films will have a period of exclusivity in cinemas before being made more widely available.

It follows a row last year when Cineworld and rival AMC, which owns the Odeon Cinemas chain, criticised Universal Pictures for releasing Trolls: World Tour online while theatres were forced to close because of the coronavirus.
Both Cineworld and AMC threatened not to show some Universal Pictures films.

However, AMC later reached an agreement with Universal where films would first show in theatres for a period before becoming available to rent online.

Under its deal with Warner Bros., from next year Cineworld can exclusively show its films for 45 days. In the UK, the period will be 31 days though that can be extended to 45 days for movies "that open to an agreed upon box-office threshold".

"This agreement shows the studio's commitment to the theatrical business and we see this agreement as an important milestone in our 100-year relationship with Warner Bros," said Cineworld chief executive Mooky Greidinger.

Godzilla vs. Kong, starring English actress Millie Bobby Brown, will start showing on 2 April in the US in a phased reopening of Cineworld's Regal theatres. It will be followed by Mortal Kombat, the movie based on the hugely popular computer game, on 16 April.

The company said it also plans to reopen in the UK - which is its second biggest market - in May, "in line with current government guidance".

The cinema industry has been one of the worst hit sectors during the pandemic with many theatres closed for extended periods or operating at reduced capacity.

Global box office takings in 2020 fell by more than 70% from the previous year to $12.4bn, according film technology firm Gower Street Analytics.

Major releases such as the latest James Bond film, No Time to Die, have been delayed a number of times because of Covid.

The much-anticipated sci-fi movie Dune, starring Timothee Chalamet and Zendaya, was originally slated to be released in December 2020, but is now set to premiere in October 2021.
 

Sheena

Hang on to your chair, dearie...
Joined
Feb 3, 2004
Messages
123,878
I wish Cineworld would extend the Unlimited cards to work in Picturehouse cinemas. It would LITERALLY CHANGE MY LIFE.
 

Users who are viewing this thread

Top Bottom