The movie industry is in a very bad place. As we've covered over the last months, thanks to the inability to show movies and the inability for new movies (like Tenet) to break out, theaters are in a terrible position. Now, without an end in sight, the companies that own theaters across the world are forced to make some very hard decisions. According to Variety, Cineworld could shutter 543 of its Regal Cinema venues in the U.S. and all cinemas across the U.K. and Ireland this coming week. Closures of these kinds put tens of thousands of jobs at risk in the USA and UK. Theaters were holding onto the hope that the new James Bond movie, No Time to Die, would bring in audiences and cash flow, but when that movie pushed into next year they understood the bigger picture: Studios can afford not to exhibit their biggest titles. Theaters cannot afford not to show movies. Read More...
Published By: NoFilmSchool - Monday, 5 October, 2020