The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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There is no comparison between watching a film in the house and cinema.
oops sorry for the double post.
Cineworld is being attacked on two fronts, Covid and the Studios. Covid is not really the problem as it will eventually be in the rear view mirror of life but the Studios have taken the pandemic as a chance to promote their own services and make more money from streaming. HBO Max with Space Jam, Suicide Squad, Dune, Matrix 4 etc. and Disney Plus with Black Widow, Jungle Cruise, Mulan etc. People have to understand that the Cinema may never be the same after Covid. There is one unexpected savior to what the Studios are trying to do and that is Pirating. If the studios see that pirating is having a significant effect on their profits then they will have no choice other than to go back to the three month rule where the cinema had control of the movie. People on this board say that it’s not the same experience watching a movie at home but I think they’re wrong. Today the average TV size in the UK is 55 inches so in relation to the room size, this is as big or bigger than a cinema and now with 65, 75 and 80 plus screens becoming the norm and with prices dropping at an alarming rate I can see that Cinema is in a very dangerous place, far more so than at any time in its past. I shouldn’t say this as an investor but I actually prefer to watch a movie in the safety of my home with the lights off and the Dolby stereo turned up,, it sounds anti social but I have an agreement with the neighbors for movie nights. Sure I miss the expensive snacks, the anti social behavior, the phones, the smells, the bursting to go to the toilet feeling the escape to the car park etc. but sacrifices have to be made.
Cinewords dept is huge and will take an awful lot of popcorn to clear and I’m not so sure they will do it unless the studios start helping but it might not be in their vested interests to do so. I’m down more than I’m comfortable with so I hope everything I have said in my rant is total BS.