Cineworld’s American series Regal will reopen next month, after being shut down for a long time due to an epidemic, “Godzilla vs. Kang” in time for a big-budget release, with Tuesday saying it’s a exclusivity deal for Warner Bros. .
The world’s second-largest cinema operator, whose reopening plans follow the larger US rival AMC, said it has a multi-year deal with Warner Bros. It will allow studio movies to be run exclusively in American theaters for up to 45 days, with some provisions, starting next year. .
Shares fell 5 percent, up from 5 percent previously, with a Bernberg analyst saying markets were focused on how the deal cut the traditional 90-day exclusivity window in half.
Cinema operators have struggled as the health crisis has shifted streaming and disruptions to the production of the film.
The year looks even more promising as the vaccine rollout raises expectations that social-disturbing regulations will be reduced and delayed releases such as the new James Bond film “No Time to Die” have been premiered in theaters.
Some major films, including “Mullan” and “Enola Homes”, left the traditional theatrical debut last year to stream directly on platforms such as Netflix.
“We are very pleased to have an agreement with Warner Bros. This agreement reflects the studio’s commitment to the theater business,” said Chief Executive Mickey Gregginger.
With capacity limits of 50 percent or more in most states, Cineworld will be able to operate profitably in its largest markets, he said.
In the United Kingdom, Warner Bros. and Cineworld have agreed to a special theatrical window of 31 days before going on demand for premium video for the film, with an extended window of up to 45 days for films that agree to an agreed-upon box. Opens on- the threshold of office.
Cineworld, which closed around 800 of its sites last October, plans to reopen its UK theaters in May according to government guidelines, temporarily putting 45,000 jobs at risk.
Analysts, on average, estimate Cineworld’s 2020 loss of $ 1.29 billion when it reports on Thursday, Econ data from Refinitive show. This compares to a profit of $ 220.2 million in 2019.
The results would seal a sad year for Cineworld in which it was forced to seek a debt waiver and secure $ 750 million in additional funds, while its merger proposal with Canadian peer Cineplex saw a legal tussle .
The markets will also focus on the finances of Cineworld, whose debt-pile was more than $ 4 billion last June.
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