Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Tenet isn't the only movie going. The problem the US domestic market faces is that the big cities like NYC, LA and San Fran aren't open to cinemas, yet.
We are aware that Mooky reported sold out screenings and the movie "After We Collided" is doing remarkably well. This is just one movie, but it suggests that a wider release does still drive box office sales
The movie was done on a $14m budget and has turned over $30m so far.
Keep in mind the first movie was released on Netflix; such was the demand the studios decided to put the movie onto the big screen and well, read the quote:
"After three weekends, it stands at £1.7 million and outperformed Tenet in terms of per-screen average, with a strong chance of toppling it from the top spot this coming weekend if it reproduces its 35% week-on-week increase."
Week on week increase Granted, this is just one movie the fact that studios are deferring their movies rather than put to VOD/PVOD suggests they recognise the value of theatrical release and would rather wait than take a loss akin to Mulan and the inherit piracy issues such a medium attracts.
Source: https://www.digitalspy.com/movies/a34120834/after-we-collided-harry-styles-box-office/
Let's see what the results tell us and where they have their game plan.
A few thoughts been crossing my mind recently - would be interesting to get peoples thoughts (btw im invested but trying to be impartial!).
On one hand, I do have increasing concerns that studios could be intentionally now be 'starving' cinemas of product to potentially push them to the wall and bring down a purchase price. Also - although when running as normal - their debt shouldn't be as big deal as some make out , as many businesses/purchases are acquired through debt - but if income dries up - then yes its of course an issue.
However, on the hand another thing which I keep thinking is could a company as big as Cineworld (with i'm assuming talented and likely high paid staff in their HQ) really go out 'without a fight'? At the moment they don't seem to be showing much 'fight to survive' attitude (innovation) - more just business as usual. Which makes me think, surely this is more likely due to them knowing something we don't rather than indifference.
I mean, OK films are delayed...whats their Plan B? Just get suffocated to bankruptcy? I would like to think they do have either a Plan B or perhaps know things are not as bad for them as we might think. For example - when restaurants weren't allowed to open - they got creative and started focusing efforts towards takeaway and delivery (something many of these had never done before) in order to survive. In other industries, businesses have pivoted/adapted to survive. For airlines im seeing sales everywhere and increasingly flexible booking policies - and this is continually likely to evolve over the coming months.
Cineworld re-opened playing old titles - but then stopped. You could say that was a potential Plan B - but they stopped doing that - which there must be a reason for otherwise why not just keep them going for the income. For example, if they wanted to aim to get bums on seats to watch old titles on a longer term basis - surely their highly paid creative minds, could come up with something new - perhaps something like more experience based showings to encourage people to come out to watch old titles (in London Secret Cinema and immersive based screenings do pretty well!) - possibly get cast members involved (Tom Cruise seemed quite keen to talk up cinema recently ). Especially as you factor in now, the limited social/leisure options for people.
Also going back to the first point about studios 'starving' Cineworld - could it be possible that Cineworld 'fight back' by re-negotiating terms with their lenders/landlords - then just closing their doors for a few months and limiting a vital distribution network for the studios and their big releases. If Cineworld are not currently taking in enough to service a regular staffed working week - they could remove majority of their costs (likely staff and movie costs) - until the environment is more positive.
Obviously I hope they do have more up their sleeve than we realise and tomorrows announcement will be very interest