RE: Good read26 Apr 2022 17:17
Reppyrr,
What's the point of motivational "news"?
We get upbeat chat on this chat board, but without substance it's less than worthless.
I would rather get Comms that are reflective of reality.
Mooky and board seem to say things as they are, e.g. we need more movies that's a fact we can all see. There has been recovery and at certain times in each market it's been right up there with pre pandemic times, however it has not so far lasted any time as again we don't yet have enough product.
He understands and respects some of what anlystis are saying but does not agree with all of it (that's perfectly reasonable to me).
He has stated he has always been known as a hard worker and yet even as some here say he is past it he notes he has worked "harder than ever" in the last two years.
Let's not pretend these negotiations with both studios and landlords will have been anything other than a tremendous effort this last 2 years.
Again there are benefits yet to be fully experienced from the still pretty new Regal deal (when we basically remove 2 non years from deal date to now).
Cineplex was also a good deal in the making, BUT something nobody expected totally screwed that and to large extent our previous expansions.
This is unfortunate, but it doesn't make either deal/failed deal a bad deal.
He repeatedly has stated the appeal will take "some time". There is no sight or hint of an out of court settlement. That's only wishful thinking by some impatient on here really.
Let's be brutally honest if Cineplex were unable to agree a settlement with us prior to case when they had ZERO at that time, why on earth would they accept a far lower sum now when COURT awarded them the legal verdict.
We have had revenue numbers just few weeks back from company and we can all get pretty good indicator of numbers since by using box office mojo daily figures and working with last number of months given from company.
The business is still working through its most difficult period in its entire existence and I am happy to see our directors full focus on that (as frustrating as we all can find limited Comms).
Until we have the box office recovery, or an appeal result, major shareholder change or such then there is NOTHING to be said by board really.
CinemaCon right now is hopefully a further boost for industry relations with studios and will give operators an ever clearer view of what additional product can be/ is on its way from studios.
One of the interviews posted here covers that very point that there was partly due to COVID a real lack of the "mid range" movies produced and or ready to go into studios, BUT that has/is now greatly improving.
Hopefully we see our fair share go to theatrical release.
We sit we wait on news, currently there isn't really any and making up some is of no value.
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