MacDirectory magazine is the premiere creative lifestyle magazine for Apple enthusiasts featuring interviews, in-depth tech reviews, Apple news, insights, latest Apple patents, apps, market analysis, entertainment and more.
Issue link: https://digital.macdirectory.com/i/1299064
and no food/drinks are allowed to be served. That’s a major blow to the industry’s revenues because concessions have been a money maker for theater owners. With more than 12,000 cinemas in China, IBIS World estimated that four out of 10 will close their doors permanently. The more than 10,000 screens in India, 3,000-plus European cinemas and more than 41,000 in the US are facing a similar struggle. Despite all of the added sanitation, care and reassurances, consumers in China and Europe have been reluctant to go back to the theater to be entertained. The UNIC (International Union of Cinemas) viewed Universal’s Trolls World Tour as an anomaly, but it was a good anomaly -- a $100M anomaly -- that gave Universal 80 percent of the gross rather than the typical theatrical split of 50 percent. Looking at the bleak attendance projections and realistic ticket sales through the end of the year, theater owners around the globe are in “discussions;” bravely asking for past rent/service charges since the closures with a repayment at a later date as well as a dramatic reduction in rent for 12 months--or better yet, rent based on actual admissions. And the discussions are similar to those in China to help the surviving cinemas stay afloat and get “well.” The rationale is that they drive traffic to shopping centers and surrounding businesses. Of course, that added traffic is also based on studios and content owners providing them with “major major blockbusters” for an extended exclusive period. Sounds like a helluva’ deal – everyone shares their pain and… “It has been an unprecedented and painful time to be in the content creation and cinema industries,” Michael Goodman, Strategy Analytics’ Director, TV & Media Strategies, said. With the summer blockbusters – Fast 9, Top Gun: Maverick, Black Widow- pushed to 2021 release, Christopher Nolan and Warner wanted his epic on the big screen almost regardless. Already having one opening setback, Nolan’s/Warner’s new target release dates were mid-August in Asia, late August in Europe and Labor Day in the US. Keep in mind, this is a guy who blew up a 747 to be authentic of the film. Just having Tenet first on the big screen probably would mean he’d miss out on a few million in added revenue but he did more than alright with his last six blockbusters - The Black Knight Rises, The Prestige, Inception, Memento, Batman Begins, Interstellar. While he has often romanticized the theater experience as a vital part of social like, if the film can attract the crowds (big if), he has a crack at becoming