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While sport may not be the best comparison it along with gigs, theatre, dining out, pubs....the list is almost endless. They have similarities on differing levels .

ALL are a different experience from sitting in your square box and never going outside.

The option to watch in an inferior format for all movies has been available for as long as I can remember.
Little to nothing on that front had changed, other than you can now pay if dumb enough for the "privilege"

It's tiresome that this swings round every few weeks.
Current (recent years) the cinema business has large chunk based on franchise movies, Marvel, DC, FF, Hobbit etc.

These movies have a strong loyal following and are absolutely big screen movies.
NOTHING, ABSOLUTELY NOTHING is going to change that.
The attendance numbers have generally been declining for years, but due to premium experiences and other factors revenues have held and or increased.
Further industry adaptions suggest to me it's more than reasonable to feel it will in not too distant future return to that pattern.

Watching even an 80inch TV at home, even if you made a dedicated 'cinema room" isn't the same as a cinema screen or the overall experience.

Going by your thinking we could sit in a cupboard with a 14inch TV and it would be same as cinema.

Smaller room with smaller screen (even if proportionally as big or bigger) is NOT the same.
Don't kid yourself.

bullsbears, too early for any of us to say with Amy great certainty.
Current average is heavily weighted by the lack of medium to lower end filler films.

With a strong weighting to the bigger budget films.
Until we get to something nearer pre covid with film supply we don't know.
Total box office was c. 45% compared to 2019 for July while achieving that higher average you rightly point out.

Blackbridge,
You are getting less subtle (you weren't that subtle I thought before).

https://deadline.com/2021/08/sony-venom-let-there-be-carnage-screenx-cj4dplex-exhibition-deal-1234806770/

In the grand scheme of things empty or full cinema experience by each of us here in UK matters very little.
Look at where the company has c75% of its business.

Clearly cinemas are not rammed full every cinema across the UK (they haven't been for decades to be fair).
Still social distancing in Scotland (Cineworld has kept it throughout UK for now haven't they!?).
Total UK box office have a look then compare it to USA and to 2019.

We are recovering month on month.
Cinema isn't empty all day every day, neither is it full all day every day.
UK small beer for cineworld and July US box office ended as I predicted on 25th July at c. 45% of 2019 totals (44.xx% I believe) month on month making progress, with a way to go yet.

10 days now let's hope for some encouraging details with substance from half year accounts.

Yeh he was on a date with the usherette I hear.

It's already part of Magic Kingdom, 10 minute ride through various countries.
(Jungle Cruise).
At least that's my understanding.

What seems to be more or less shaping up to be the new (current) norm. is probably about on the money for all concerned.
By this I mean the 31/45 day exclusive window for theatres (it maximises, or close to, the money for all parties). There are very very very few movies making (in percentage terms of their end take) any serious amount of money after that period.
Some will still likely go day and date, some will go straight to whatever form of small screen release.
I don't see any of this as a massive shift in the businesses.

Disney and others have their own businesses to run and with a worldwide pandemic we have had last c. 18 months it is only right the had eyes open and pursued various alternatives to them.
A business that stands still, especially when things around them are changing often find themselves left behind.

Studios have stated certain measures they have looked at/tried are down to the uncertainty of times we have been going through.
Many have new agreements in place going forward either from next set of releases or next year with theatres.

Three month exclusivity is gone for good I would be pretty sure (so long as it's a 31/45 window for the movies that warrant it then I am pretty relaxed and happy with that).

We have an instant gratification society now and things are ever changing.
Cinema, as any business needs to keep on their game and adapt.

Hence we have 270 screens, IMAX, ever improving sound systems, 3D, 4DX, laser projectors, there are and will be further advances.
As has been made clear in company reports business has taken this event as an opportunity to cut the fat (often seen in business that have had it too easy for a while), they have said effectively they are coming out of this period a better run business.
Removing sites that are a drain on the business, looking at wastage in all cost centres, adding bigger better sites that will generate better returns in investment.

There may well be less cinema sites in the future, but what is left is likely to be better quality for customer and business owner giving a better customer experience and a better level of profits to operator.

Blackbridge I suggested selling your shares as best move for yourself as it seemed you were saying you now felt you had made a bad investment and didn't see good recovery.
In those instances it is always better to take say a 37% loss than a 38 or higher percentage loss.

If your view is still the business will recover and give you good return on investment then off course selling now is not best option for you.

Correct - often before UK release.
Ok sometimes not in HD , but often yes and almost always in a perfectly good format and quality.

Regardless still NOT the same product home TV - Night at the Cinema.

Been covered countless times so you have your view different to mine and some others here.
Wish you well with selling your shares Monday morning :-)

The majority of the world population hasnt gone to the cinema regularly for decades.
The business model doesn't require that.

For some time now pirate copy of films have been available and without people walking in front of camera etc.

Again what you can get at home before, now or for many years/decades to come is NOT the same thing.

If not happy with investment we are all perfectly entitled to move on, that's each individual's choice.

Black ridge,
As with every single debate we have had for well over a year on the streaming matter here now that is just it....It is NOT the same product for free.

Mountainous
If you enjoyed the first one then I reckon you will also love this one.
More of the same escapism with pure silly fun.
Pretty long movie, but even so they still seem to have crammed it full of gags and never ending slapstick carry on.
Like Crumpets experience it was strong numbers out enjoying the cinema experience.

For me one of the really good points from all my visits especially weekend when it is heavily weighted attendance there are always lots of young people.
The generation that doomsayers keep trying to tell us don't go to cinema, but documented statistics show are a strong part of audiences.

On balance I think my predominant thought is that of feeling sorry for you smallT.

Similar on that last post too bonkers.
Re pricing and when.

Mountainous respect to you, it's good to be open to other views and be able to discuss them and even re-consider our own initial thoughts/views.

I feel pretty sure like yourself that bonkers and myself also see the possibility of a future £1:50 (or indeed above) share price.
Have a good one, off to Suicide Squad now for me :-)

Sad loaner ;-)

All good here bonkers, every day we draw breath is good in my books.
Hope all good with yourself too.

Bonkers
Spot on.
The companies base case at 60% of 2019 levels in the early months of reopening building to 90% later in year made it clear no further financing would be required.
It also stated anything below this may well need flexibility from lenders (achieved this as noted in RNS) and further financing (achieved this as noted in RNS).
To me at least both these elements of the RNS make it VERY clear how the company has performed since re-opening to end first half.

Still on for September 31st sammy.

Mountainous I get the interest rate applicable being higher than the companies total debt average from the wording of the release.

It doesn't state this additional liquidity reduces the overall average.
It doesn't state it keeps it exactly the same.

It DOES state it doesn't MATERIALLY IMPACT the overall debt rate.

That does mean (to me anyway) that latest rate is higher than all debt average.

Do you think those involved would at this stage offer a rate significantly lower than the recent lending they gave?

That WAS higher than the companies overall average.

The details are provided by company if you do not believe what I am saying.

That previous 200 odd million was supposed to do EXACTLY as you state this is to do.
So again if not needed or 'possibly" needed now why add to what was already an additional set of lending.

I am happy the company has been able to achieve this (without any apparent fuss like we have witnessed previously in media).
I am not happy it is in a position it feels the need to further add to debt and cost of financing said debt.

As you rightly say they may use only part or even none of this tranche.

It is also good they have been able to ease restraints from lenders on required liquidity at any time and ease covenant measures.

Again however it is not good they deemed it necessary.