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Honestly there is a silver lining to this. The studios have realized that they NEED theaters to turn a profit on blockbusters, which is good long term for theaters, despite the horribleness they will continue to go through until we’re out of this.
And then I guess families didn't wanna spend $30 to watch something at home that they can spend less money like 3 months down the line and also watch at home.
I knew the "people will be bored" reasoning that some gave for Mulan potentially being a success was flimsy.
I think Black Widow could've been a bigger success, while still losing money, with the PVOD release. But that would've been an outlier.
And then I guess families didn't wanna spend $30 to watch something at home that they can spend less money like 3 months down the line and also watch at home.
I knew the "people will be bored" reasoning that some gave for Mulan potentially being a success was flimsy.
I think Black Widow could've been a bigger success, while still losing money, with the PVOD release. But that would've been an outlier.
The exclusive release window was too short. People will absolutely wait 3 months to get it for free. I don't know if it would have been successful anyways, but if it wasn't going to be free for like 2 years then the numbers would probably been better, at least to some degree.
I realize backs were pressed against the wall, but the way this was all done was idiotic.
For one thing, people are already paying a monthly fee for Disney+. It's a premium subscription service. But why would I pay $30 for an early unlock on something when I can get it in just a matter of weeks for what I normally pay per month for the service.
Honestly there is a silver lining to this. The studios have realized that they NEED theaters to turn a profit on blockbusters, which is good long term for theaters, despite the horribleness they will continue to go through until we’re out of this.
Yeah. I'm a big movie guy, but I'd only be willing to shell out $30 for a handful of films. The Batman and Dune, for example. Hell, I'm a fan of Christopher Nolan and I haven't even tried to see Tenet yet. This literally only applies to the "I cannot wait for it any longer" films.
I would just wait. I mean there's no reason imo to pay $20-$30 to watch something at home when it'll be available for $6 or even "free" 2 months later.
But it's funny remember at the start of the summer where some swore up and down that the studios "just" have to release the movies to PVOD at $50. Look what's happening with $20-$30 PVOD releases
Yeah I have a similar stance for seeing movies in theaters. I’ll see The Batman in theaters...and maybe Dune. I can wait for Tenet to come to home video. Pretty much the big superhero movies I’ll see in theaters. Everything else can wait until it comes out on digital.
EXCLUSIVE: Following the successful Ride Along films and upcoming Flint Strong biopic, Ice Cube and Universal look to have found their next high-profile project as Cube is set to star in the untitled grounded sci-fi movie for the studio with Patrick Aiello and Timur Bekmambetov producing. Rich Lee will direct from a script by Kenneth Golde.
Plot details are vague other then it being described as a grounded sci-fi film in the vein of District 9 that touches on themes of privacy versus surveillance. Universal has already green lit the film and has fast tracked it by having it go into production next month.
The talent behind the package was already intriguing to the studio but what really sealed the deal, was the technology that Bekmambetov has been fine tuning ever since signing his five-picture deal with the studio. The idea behind this format that was part of the presentation is a production that had the look of commercial event film but at the budget of a contained thriller. This new technology will allow for a fully remote production with all actors and crew working from their individual separate locations. So basically if Cube wanted his part of the shoot to be done from his home it could be done without a problem and with crew working from somewhere else. The shoot would be a first of its kind at this scope and is not only done at a lower budget but also provides the safe working environment every studio is trying to achieve during the COVID-19 pandemic.
Dozens of established filmmakers joined with the Directors Guild of America, the National Association of Theatre Owners and the Motion Picture Association to urge Congress to come to the aid of movie theaters devastated by COVID-19.
“Absent a solution designed for their circumstances, theaters may not survive the impact of the pandemic,” the letter warns (read it in full below).
Signatories of the letter sent to House and Senate leaders include Christopher Nolan, James Cameron, Judd Apatow, Jon Chu, Sofia Coppola, Alfonso Cuarón, Lee Daniels and Clint Eastwood.
Senate Majority Leader Mitch McConnell, House Speaker Nancy Pelosi, Senate Democratic Leader Chuck Schumer and House Republican Leader Kevin McCarthy are urged to redirect unallocated funds from the CARES Act. The House delayed a vote on a $2.2 trillion coronavirus stimulus bill Wednesday so that further negotiations could be held between, among others, Pelosi and Treasury Secretary Steven Mnuchin.
As unemployment soared in the spring when pandemic lockdowns began, CARES Act funds went to workers and small businesses to help them cover basic essentials during the crisis. Most of those benefits expired in July and a patchwork of state measures that followed was a far smaller amount of relief. Republicans and Democrats have been in a standoff in recent weeks over a new deal.
“The moviegoing experience is central to American life,” the letter said. “Theaters are great unifiers where our nation’s most talented storytellers showcase their cinematic accomplishments.” Along with being “an irreplaceable experience” with “critical cultural impact,” the letter adds, “theaters are economic force multipliers.” In addition to 150,000 exhibition industry jobs, they directly affect millions more across film distribution, marketing and production as well as retail environments where multiplexes are located.
Theaters have reopened in many states, but not yet in New York City or L.A. County, two critical markets. Even venues that have reopened are operating with strict capacity limits, and studios have shifted most of their releases out of 2020. Rather than face lower ceilings for major releases, as Warner Bros has experienced with Tenet, they have opted to throw in the towel on a movie year where box office receipts are apt to plummet by at least 70% from 2019 levels.
According to the letter, 93% of movie theater companies had year-over-year losses of more than 75% in the second quarter of 2020. If the status quo continues, it goes on to say, 69% of small and mid-sized movie theater companies will be forced to file for bankruptcy or to close permanently, and 66% of theater jobs will be lost.
Exhibitors, knowing they are in an existential crisis, have sought to reassure a wary public of the safety of theaters relative to bars, indoor restaurants or music venues. They have pointed to research from epidemiologists saying that no direct link has been established between theaters and COVID-19 infection. Beyond the initial safety jitters, there is also the habit of moviegoing, which is linked to other aspects of social interaction curtailed by the pandemic.
With the proliferation of streaming and other at-home options, skeptics have wondered about whether theatrical moviegoing as a ritual will survive. But proponents — and major media companies and their allies — also point to the profit motive. Big-budget movies are not able to reach the heights of $1 billion-plus in revenue without theaters, and taking that element away would irrevocably alter all of the other drops in the movie revenue waterfall model.
The coalition is urging a bipartisan solution to help theaters with existing funds or by enacting new proposals such as the RESTART Act.
“I am extraordinarily grateful for the unprecedented support from our industry partners and the talented and concerned members of the movie industry creative community,” NATO president John Fithian said. “The value of their recognition of the unique importance of movie theaters to our communities, culture, and economy, and their support before Congress of the unique needs of movie theaters in this pandemic cannot be underestimated.”
Here is the full letter:
Dear Leader McConnell, Speaker Pelosi, Leader Schumer, and Leader McCarthy:
Thank you for your leadership at this challenging time for our country. As you consider forthcoming COVID-19 relief legislation, we ask you to prioritize assistance for the hardest-hit industries, like our country’s beloved movie theaters.
No doubt you are hearing from many, many businesses that need relief. Movie theaters are in dire straits, and we urge you to redirect unallocated funds from the CARES Act to proposals that help businesses that have suffered the steepest revenue drops due to the pandemic, or to enact new proposals such as the RESTART Act (S. 3814/H.R. 7481). Absent a solution designed for their circumstances, theaters may not survive the impact of the pandemic.
The pandemic has been a devastating financial blow to cinemas. 93% of movie theater companies had over 75% in losses in the second quarter of 2020. If the status quo continues, 69% of small and mid-sized movie theater companies will be forced to file for bankruptcy or to close permanently, and 66% of theater jobs will be lost. Our country cannot afford to lose the social, economic, and cultural value that theaters provide.
The moviegoing experience is central to American life. 268 million people in North America went to the movies last year to laugh, cry, dream, and be moved together. Theaters are great unifiers where our nation’s most talented storytellers showcase their cinematic accomplishments. Every aspiring filmmaker, actor, and producer dreams of bringing their art to the silver screen, an irreplaceable experience that represents the pinnacle of filmmaking achievement.
As well as their critical cultural impact, theaters are economic force multipliers. In addition to the 150,000 employees working in cinemas nationwide, the industry supports millions of jobs in movie production and distribution, and countless others in surrounding restaurants and retailers that rely on theaters for foot traffic. Movie theaters are also leaders in employing underrepresented groups, including people with disabilities, senior citizens, and first-time job holders. Cinemas are an essential industry that represent the best that American talent and creativity have to offer. But now we fear for their future.
Theaters need specific relief targeted to their circumstances. We urge you to come together on a
bipartisan solution that provides this relief, by reallocating unspent funds from the CARES Act toward programs designed for industries like movie theaters, or by enacting new proposals such as the RESTART Act. These solutions would fulfill Congress’s intent in helping severely distressed sectors of the economy and ensure that our resources are focused on the industries that need them the most.
Please fight for our country’s beloved and essential cinemas by including relief for them in any
forthcoming COVID-19 legislation. Thank you for your leadership and for considering this request.
Sincerely,
John Fithian, President & CEO, NATO
Russ Hollander, National Executive Director, DGA
Charles Rivkin, Chairman & CEO, MPA
Thomas Schlamme, President, DGA
Adewale Akinnuoye-Agbaje
Agustin Almodovar
Pedro Almodovar
Wes Anderson
Judd Apatow
Jon Avnet
Sean Baker
Noah Baumbach
Michael Bay
Susanne Bier
Barbara Broccoli
James Cameron
Antonio Campos
Damien Chazelle
Jon M. Chu
Sofia Coppola
Alfonso Cuarón
Lee Daniels
Dean Devlin
Clint Eastwood
Andrew Erwin
Jon Erwin
Paul Feig
Shana Feste
Scott Frank
Cary Joji Fukunaga
Greta Gerwig
Evan Goldberg
Paul Greengrass
Leslie Greif
Luca Guadagnino
Catherine Hardwicke
Alma Har’el
Albert Hughes
Allen Hughes
Alejandro Gonzalez Iñárritu
Barry Jenkins
Patty Jenkins
Rian Johnson
Miranda July
Nicole Kassell
Jon Landau
Francis Lawrence
Mimi Leder
Ang Lee
Rob Letterman
Shawn Levy
Richard Linklater
James Mangold
Sam Mendes
Adam McKay
Steve McQueen
Ted Melfi
Reed Morano
Christopher Nolan
David O. Russell
Todd Phillips
Guy Ritchie
Seth Rogen
Joachim Rønning
Michael R. Roskam
Martin Scorsese
M. Night Shyamalan
Zack Snyder
Steven Soderbergh
Joey Soloway
David E. Talbert
Betty Thomas
Emma Thomas
Liesl Tommy
Denis Villeneuve
Taika Waititi
James Wan
Lulu Wang
Chris Weitz
Paul Weitz
Michael G. Wilson
Edgar Wright
Joe Wright
Cathy Yan
David Yates
I know some people don't mind or even want theaters to close and everything going to streaming or VOD, but it makes sense to me to fight for theaters to stay afloat as of now. The theater industry holds so many jobs or it has something to do with other industries' (studios, food service, tech, etc.) revenue. Having them shut down permanently pretty much all of the sudden would be really bad economically.
I'm not saying theaters will never go away, but going out like this isn't gonna do favors for anyone, even the people who don't go to the theaters
Theaters dying out and not having the theatrical experience anymore would be terribly unfortunate. Plus the thousands of jobs that would be lost if the theater industry went under.
Many local theaters are locally-owned small businesses that already have a hard enough time staying afloat and competing with the big chains.
Cineworld is shuttering all 543 of its Regal Cinema venues in the U.S. and all cinemas across the U.K. and Ireland this coming week, just a day after James Bond film “No Time to Die” was pushed to April 2021.
Variety understands from sources that the chain will close all sites in both countries as early as this week, with staff notified ahead of Monday. Regal is the second largest domestic chain in the U.S., while Cineworld is the U.K.’s biggest cinema operator.
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