Latest in Exhibition

Mark Zoradi, a former longtime Disney executive who is now CEO of major exhibitor Cinemark, believes business comparable with what existed prior to COVID-19 won’t return until at least 2022. “The reality is I don’t think we’re going to be able to get into a full-on rhythm again of product cycles and all that we had…

Cinemark, the No. 3 U.S. exhibitor, reported first-quarter results below Wall Street expectations, revealing the extent of the damage done to its business by COVID-19 on its business. Revenue for the period ending March 31 totaled $543.6 million, down 24% from the year-ago period due to the closure of theaters in…

Shares of top exhibition circuit AMC Entertainment were upgraded by MKM Partners analyst Eric Handler from “sell” to “neutral” due to its progress in recovering from the devastating impact of COVID-19. Handler also raised his price target for the stock to $5 from $1. AMC shares gained 4% in early trading Wednesday to…

UPDATED at 11AM PT: Cinemark will release its first-quarter earnings and address Wall Street analysts on an earnings call on June 3, in what will likely be a closely monitored status report on movie theaters’ attempt to reopen. Earlier this month, the No. 3 U.S. theater chain had postponed its earnings report, as had…

Tom Lesinski, CEO of leading in-theater advertising firm National CineMedia, expects a strong comeback for the movie business, especially by the fourth quarter, and only “few and far between” Trolls-style windows experiments. “I think studios want to have their movies showcased in theaters, where they belong,&#8221…

Delayed theater openings to mid-late June will be a net positive to exhibitor profitability, said one analyst Monday, applauding a newfound clarity around opening strategies and hinting at a silver lining – a bump in elusive weekday attendance, at least for a while. "We would expect movie-goers naturally moved their…

The damage done to Hollywood by COVID-19 is just beginning, and will hasten the decline of theatrical moviegoing, TV advertising, pay-TV and other longtime features of the landscape, according to a sweeping new report by Wall Street analyst Michael Nathanson. The analyst at MoffettNathanson reflected in the 25-page…

S&P Global struck again at the showbiz sector, this time at distressed cinema advertising, putting National Cinemedia and Screenvision on credit watch negative as movie theaters are shuttered and advertising at risk. Ratings agencies like S&P Global, Moody's and Fitch can be quiet for years and are rarely public…

UPDATE: As a preventative measure for the spread of coronavirus, Mayor Eric Garcetti took to Facebook Live to announce that he has now taken executive action to close all movie theaters, bars, nightclubs, entertainment venues and gyms until March 31. Restaurants will remain open but will only provide takeout and…

New York City Mayor Bill de Blasio is taking no chances and has taken the huge step of closing all movie theaters in the city as a result of the coronavirus pandemic. In addition to theaters, nightclubs, movie theaters, small theater houses and concert venues will all close while restaurants will be limited to takeout…

AMC Entertainment said Monday it hired Mark Pearson in the newly created role of chief strategy officer to lead strategy, business development, alliances and partnerships, including with streaming services worldwide. Pearson was previously executive VP, Business Development, Operations and Strategy at 20th Century Fox…

Major movie theater chain Cinemark, which also owns the Century, Tinseltown and Rave chains, saw earnings rise last quarter to $26.3 million, or 22 cents a share, as attendance and revenue slipped. Earnings for the latest fourth quarter compared with $19.4 million, or 45 cents, the year before. Revenue of $789 million…