Cinemark's CEO is predicting that there will eventually be even more theatrical movie volume than [...]
Cinemark's CEO is predicting that there will eventually be even more theatrical movie volume than ever before. During an investor call, Sean Gamble gave his read on the future of the movie business. A lot of executives have been gesturing towards a return to theaters. But, audiences have been hesitant to re-enter movie houses at the rate that they did in 2019. However, the pressure to get people back to big event releases can be felt all around the entertainment landscape.
"We have high confidence in the ongoing recovery of content and box office as delays caused by Covid fully subside, and studios derive increasing promotional and financial value from theatrical," Gamble claimed."We see studios leaning more heavily back into theatrical." "We remain highly optimistic about the future of theatrical exhibition and Cinemark," Gamble added."Consumer behavior over the past year validates that moviegoing enthusiasm remains strong and vibrant across all categories of films and audiences. Quarter after quarter, genre by genre, we've seen long-standing records broken and films performing at levels comparable to, or better than, pre-pandemic expectations.
Universal Pledges to Move Forward With CinemarkBack in 2020, the studio made it's intentions clear:"Universal's century-long partnership with exhibition is rooted in the theatrical experience, and we are more committed than ever for audiences to experience our movies on the big screen," explained Donna Langley, Chairman, UFEG.
"We are extremely pleased to further enhance our strong partnership with Universal as we evolve the exclusive theatrical window," added Mark Zoradi, Cinemark CEO."We believe a more dynamic theatrical window, whereby movie theaters continue to provide an event-sized launching platform for films that maximize box office and bolsters the success of subsequent distribution channels, is in the shared best interests of studios, exhibitors and, most importantly, moviegoers.
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