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Coronavirus Movie Theatre Reopening Thread | Release Date Changes/Production News | Theaters are dead. Long live streaming!

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9 minutes ago, Plain Old Tele said:

My entire Twitter timeline is basically in mourning right now. 

Same here, there’s more people mourning a building than were mourning a British prince on mine.

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1 hour ago, Jamiem said:

Some sad news 

 

“The last thing we needed to hear as the box office and exhibition were rebounding from the pandemic was a piece of bad news, but word spread like wild fire in distribution and exhibition circles that the Arclight Cinemas and Pacific Theatres won’t be reopening.

 

The chain has issued a statement below.

 

Last week, I was hearing that the chain was shooting for a Memorial Day weekend reopening with A Quiet Place Part II and Cruella, now those hopes look dashed, and at an unfortunate time because it’s expected that Los Angeles County could get the opportunity to operate at 100% capacity in movie theaters well before California Governor Newsom’s June 15 wide-open order.

 

Here’s the chain’s statement:

 

After shutting our doors more than a year ago, today we must share the difficult and sad news that Pacific will not be reopening its ArcLight Cinemas and Pacific Theatres locations. 

This was not the outcome anyone wanted, but despite a huge effort that exhausted all potential options, the company does not have a viable way forward.  

 

To all the Pacific and ArcLight employees who have devoted their professional lives to making our theaters the very best places in the world to see movies: we are grateful for your service and your dedication to our customers. 

 

To our guests and members of the film industry who have made going to the movies such a magical experience over the years: our deepest thanks.  It has been an honor and a pleasure to serve you.”

 

source: https://deadline.com/2021/04/arclight-cinemas-and-pacific-theatres-wont-be-reopening-1234732936/

 

update to end of article (some locations probably going to be sold, others closed permanently which makes sense considering some of the locations historically perform well) :

 

”Behind the scenes, what I hear that’s technically happening is that Decurion has handed the keys back to the landlords on all their Arclight and Pacific properties. That doesn’t mean the chain is bankrupt, rather is part of a thick lease negotiation.  What happens in this instance is that the landlord decides which keys to keep, and which they’d like to return to the exhibitor. No word yet that the chain is up for sale; I think they’re waiting to see what leases they get back. Many of the Arclight venues the chain doesn’t own, and it’s those that I’m told where they’re really upside down on their leases.

 

But not boding well for Arclight and Pacific’s reopening is that we also hear the chain gave notice to its theatrical staff.

News broke on IndieWire over the weekend that Arclight’s new Culver City location was in arrears on its March rent to the tune of $181,900.40, due in full to collections agent Caitlin Brannon.”

This is what I was worried about for theaters...at some point, even if you have no variable costs b/c you aren't paying employees, the biggest cost - the fixed one for leases - comes due...you can't really go 14 months as a business and eat that cost unless you had a heck of a previous monetary cushion, a heck of a government grant/loan/forgiveness, or some way to bring money in...

 

Hopefully, some of the best performing theaters can reopen in some way with someone else...but this will permanently close a non-trivial amount of places in one go...sucky news...

 

Edit to Add - Somehow, I had missed the news of New Vision theaters also dissolving during the pandemic...https://www.boxofficepro.com/pacific-arclight-will-not-emerge-from-the-pandemic-circuit-to-permanently-close-all-locations/

 

Edited by TwoMisfits
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42 minutes ago, TwoMisfits said:

This is what I was worried about for theaters...at some point, even if you have no variable costs b/c you aren't paying employees, the biggest cost - the fixed one for leases - comes due...you can't really go 14 months as a business and eat that cost unless you had a heck of a previous monetary cushion, a heck of a government grant/loan/forgiveness, or some way to bring money in...

 

Hopefully, some of the best performing theaters can reopen in some way with someone else...but this will permanently close a non-trivial amount of places in one go...sucky news...

 

Edit to Add - Somehow, I had missed the news of New Vision theaters also dissolving during the pandemic...https://www.boxofficepro.com/pacific-arclight-will-not-emerge-from-the-pandemic-circuit-to-permanently-close-all-locations/

 

The worst of all is, government seem offering little help to cinema chain throughout this pandemic. Even the reddit users do more than government.  

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1 hour ago, Borobudur said:

The worst of all is, government seem offering little help to cinema chain throughout this pandemic. Even the reddit users do more than government.  

 

Its not only the government that deserves blame, lets not forget Disney and their 40% marketshare pre pandemic did nothing to help and made the situation worse by moving everything to D+.  Sony and Paramount where not much help either.  Honestly if AMC did not become a meme stock what would have happened? 

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So folks that know way more than me say that this is likely just a negotiating strategy between Arclight’s parent company and their landlords for their three main leases — The Grove, The Americana, and the Paseo. (None of these are Arclights). The Arclight Dome isn’t just a cultural and architectural landmark in LA, it’s usually one of the top 2 or 3 grossers every weekend. So odds are that someone will try to make it work. 
 

But it’s still frustrating and saddening and will continue to be unless/until things get resolved in a happy and pro-cinema way. 

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It was sadly inevitable that some theaters would end up among the businesses to become pandemic casualties but this news is still a major bummer. Hopefully someone steps up and saves them.

Edited by filmlover
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Totally don't get this unusual update this late but since BOM have this tendency to snub WB's box office revision, i will leave this here for record, +100k from estimate

 

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">TOM &amp; JERRY<br>$1.21M Weekend (Final)<br>1,826 Screens / $662 Avg.<br>Weekend 7 / -14% Change<br>$41.22M Total (North America)<a href="https://twitter.com/hashtag/TomAndJerry?src=hash&amp;ref_src=twsrc%5Etfw">#TomAndJerry</a> <a href="https://twitter.com/hashtag/BoxOffice?src=hash&amp;ref_src=twsrc%5Etfw">#BoxOffice</a></p>&mdash; Boxoffice Pro (@BoxOffice) <a href="https://twitter.com/BoxOffice/status/1382017045751947266?ref_src=twsrc%5Etfw">April 13, 2021</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Edited by titanic2187
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Why do a bunch of people (like the guy who manages the ERC twitter account, who like always, is making a stupid prediction) think that studios, specifically Netflix, Amazon, and Disney, will are itching to buy the Arclight cinemas? I doubt they've even given it much thought. 

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On 4/6/2021 at 6:26 PM, Porthos said:

Okay, slightly snarky.  But perhaps not snarky enough, given that Newsom was one of the governors who jumped the gun last May before many other "blue state" governors did when it came to the process of reopening the economy (and very probably bit us in the ass in the summer by doing so). 

 

While recall politics weren't a factor then, the carping from the entertainment industry as well other business interests certainly was, IMO.

Newsom's little French Laundry stunt was one of the dumbest things I have ever seen a politician do . Throwing a huge party at one of the country's most expensive and exclusive restaurants while urging people to stay home is incredibly hypocritical.

This is not to say that the recall advocates are not equally hypocrtical...if it was a GOP governor they would be defending him to the death...but Newsom left himself wide open with that piece of stupidity.

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4 hours ago, lorddemaxus said:

Why do a bunch of people (like the guy who manages the ERC twitter account, who like always, is making a stupid prediction) think that studios, specifically Netflix, Amazon, and Disney, will are itching to buy the Arclight cinemas? I doubt they've even given it much thought. 

i think the Dome will be  snatched up very quickly, but some of the other theeaters, not so much.

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And this is what I don't get. If the success of Godzilla vs. Kong is any indication, theaters are becoming, if not as successful as they used to be, then at least more successful than they were when the pandemic was at its height. Surely there's a possibility that with some more time, we could see theaters returning to their former status? 

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3.8m from Monday to thrusday, compared to 8m mid week number last week. (Last Monday was inflated by easter), so that is about 50% drop 

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">GODZILLA VS. KONG<br>$73.81M Total (North America) <a href="https://twitter.com/hashtag/Godzilla?src=hash&amp;ref_src=twsrc%5Etfw">#Godzilla</a> <a href="https://twitter.com/hashtag/Kong?src=hash&amp;ref_src=twsrc%5Etfw">#Kong</a> <a href="https://twitter.com/hashtag/GodzillaVsKong?src=hash&amp;ref_src=twsrc%5Etfw">#GodzillaVsKong</a> <a href="https://twitter.com/hashtag/BoxOffice?src=hash&amp;ref_src=twsrc%5Etfw">#BoxOffice</a></p>&mdash; Boxoffice Pro (@BoxOffice) <a href="https://twitter.com/BoxOffice/status/1383157586514575373?ref_src=twsrc%5Etfw">April 16, 2021</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

 

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Oh, Regal. :hahaha:

 

re Private Watch Parties:

Quote

Q: How much does it cost?

A: The booking cost for a classic movie is only $99.99, and the price for a new release is $250.

 

Never change, Regal, never change. :hahaha:

 

(posting coz I don't believe it had been mentioned in this thread yet)

Edited by Porthos
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