Member Info for FunInvestor

LPD
This is a Cineworld board. The thread was regards a WB 45 theatrical window. That is NOT new.
Please stop the petty feelings towards myself and some others here even for a moment.
Now WB release a movie on a particular date in 2022. Please then explain how it would be possible for Cineworld to have 45 day window fr that point in time i.e. no playing on WB media channels in that period while also having a shorter window with AMC!?

The theatrical window is the theatrical window, it can't realistically be different lengths for different cinema chains for the same film.

As I say, please stop the petty behaviour even briefly and look at this logically and with open mind and have decency (like I and others have shown) to admit when wrong.

Agree regards facts, that is why I linked to the RNS of 23rd March which clearly shows the WB deal.
It is NOT new news because someone else talks about it.
There is NOT an increase in the number of days of theatrical window previously agreed on that date (clearly states 45 days on that RNS).
There is NO indicators of a return to pre covid theatrical window lengths of 90 days.
AMC did NOT note attendance levels of 75 - 80% in USA and as that's where Cineworld earns most it's money I fully expect that won't have recorded 75 - 80% attendance levels either.
AMC are still running cash negative, NOT positive as you and others have said Cineworld easily are when I made the case I felt all numbers we had access to made this highly unlikely Cineworld will have been making enough bottom line to firstly be cashflow neutral and then cash flow positive.

August 12 will conclusively show whether Cineworld are making positive EPS or not.
Whether they are witnessing 75 - 80% pre covid attendance levels in the USA and worldwide or not.

Time answers most things (as do factual releases e.g. company accounts, RNS releases).

Circa 5%
Though you may feel need to disagree and ridicule that as it comes from me ;-)

Well with the 23rd March RNS for the business we here are invested in I am happy for everyone to male their own mind up whether or not WB and theatrical window is new information or not.
:-)

TS, No problem and yes found parts of the call interesting.
Many items we have discussed and or known here already in relation to Cinema business. Other items, some AMC specific, some not we didn't.
Not only were they announcing accepting bitcoin, but if I picked up properly they were potentially or all but have made/making moves into cryptocurrency themselves. Had part of business set to look out for potential investment options.
SPAC was name of this and company re crypto I think ARQIT.!?

They, we, nobody knows for sure the movie numbers in cinema, the premises , screens and sound quality is there. Already use for some of these "alternative" revenue streams it only makes sense to pursue further.

Eggs one basket and all that.

From memory I think it did (day or week movements shouldn't be off any real concern as a LTH though).
I "think" it dropped in my view as that news was wrongly taken as negative. Seen as a big cut from previous standard c.90 day window.
In my mind that is and possibly has for some te been an outdated length of window.
Think most here now (if already didn't) know that revenue from box office is very heavily weighted to the earliest parts of the window.

AMC are still burning cash, however for some time now they have had a far higher burn rate than Cine.
That's not to say I think that Cine may also still be cashflow negative currently.
What he has said and I firmly believe will be mirrored with Cineworld is that the burn rate has been considerably reduced.

Few days will tell regards currently cash positive or negative as has been hotly debated.
It should also show if we are more like AMC attendance levels or those claimed by others.

Tick tock very soon now.

Nobody is perfect, we all miss or forget things Cruis.
Mooky has also been on record back around that and other times stating we are in active and positive dialogue with all studios and they recognise value of theatrical window.
It's absolutely nothing new.

We do though have confirmation of where our most directly comparable competitor is especially in our key USA market.

Remember this one:
https://www.lse.co.uk/rns/CINE/warner-bros-agreement-and-opening-of-cinemas-r2eqabq272fdhsj.html

Did you miss the RNS on 23rd March I think it was.
We already had this confirmed back then.

Wouldn't hold breath on price leap from this bombshell. ;-)

With $2bn liquidity AMC are currently in a rather stronger position than Cineworld on that front.
That buys them a lot more recovery time.
Direct from their CEO:
Domestic (USA and Canada) compared to 2019 box office revenues.
Q1 13%, Q2 29% , Q3 (so far) 45%
He also said as possibly a better measure as a percentage of useable capacity they recorded:
Q1 41%, Q2 61%, Q3 (so far) 68%

The above is very important as it is where Cineworld also has by far biggest revenue base.

Still losing money and burning cash, but less than previous q's
Expects it to be Q4 where they may reach positive cashflows
Concessions spend up 44% per person on same 2019 period.
Due to 4 factors:
Mobile Ordering
Price increases
More items per person
More people buying (an after covid effect as now want "the full experience"
Regards to returning to more "normal" expects 2022 still to be a transitional year and it to be 2023/2024 before reaching whatever new "normal" levels are. These may be levels similar to 2019 or a 5 year block older than that.
Spoke of an 11bn level 2019 back 5 years
10bn back further 5 years and 9bn back further 6/7 years.
It is as he says the 64million dollar question.

Got the cash to make some other investment moves such as cryptocurrency getting involved with as investment probably and as business able to take bitcoin as payment soon.

Dividend - no for more than year at least die to debt comments etc.

Partner with GameStop - open to idea anday have discussions.

Drive in theatres - no not the economics there.

Possible covid surge - clean and safe system in place, may not be level of siege predicted by some, vaccination, vaccination, vaccination.

Ways to reduce debt - possibly but back some discounted debt, possible discount on deffered rents if pay cash now.

Day and date streaming - private discussions ongoing with studios who will do what's best for them, therefore AMC keen to show how the cinema business is best at advertising for them and generate max revenues.

Sell AMC merchandise - meh open to it, but complex and may not be cash generator thought.

Live events such as theatre, gigs, sporting events, and gaming - all either being done or seriously looked at. With live sports it is getting the rights at price that makes economics good.

Partner with movie studio to make own content - This is one of few times he got in about not having full support from shareholders to raise .ore liquidity. Costly and risky business but one of many future possible but would need that much bigger liquidity.

Expand into a full family experience, with bowling, laser tag, dinning etc - similar response as above

Debt mentioned by many as part of end of business - This is "laddered" as he called it with earliest debt 2023 due and most 2026 or later.
(Thought that an interesting and valuable point we have some similar structuring with debt repay dates in Cineworld/need to look back on our dates).

Yes we already knew WB window return for next year.
What was interesting is it seems although other studios in discussion they have not as yet agreed similar deals.
This would explain why it's only been press assumptions rather than further RNS from Cineworld.
They all seem hopeful on this though.

I guess it was an AMC based article and other companies mentioned have already reported so could bring some comparisons.
USA being by far our biggest market it is worth noting points made, far more relevant than UK.

Seemed a reasonably "fair" interview.
Positive indicators there, but not without uncertainties as the world moves to next stage.

Well forecast is $382.11m revenues, EPS - 0.96

Still looking for the edges of your flat earth too I suppose.

Not even 4 weeks we have been in 60's.
Short term the price can go any direction, anyone saying otherwise is not being honest with themselves/others.
Infact it may go any direction longer term also, but more hopeful of up longterm.

$72m box office so far, lets see where it ends up.

Please learn to read fully and interpret both articles you share and others comments in them.
It's always good to have an open mind as it allows is to grow as individuals.
Is there any point in time you will resist reverting to childish jibes?

Possibly/probably not but we can live in hope.

"Richards, 62, says: 'This week we'll do 850,000 to 900,000 attendance in the UK,"

Oh laughing I am :-)