Cinemark CEO Mark Zoradi remained confident this morning on the exhibitor’s Q1 call that Warner Bros.’ Christopher Nolan movie Tenet will remain on track and open on its planned July 17…
Unhingedwith a production budget of $200M reps the first major studio tentpole which has exhibition hopeful about moviegoers’ return en masse to the cinema.
“We’ve been in close contact with Warner Bros. and they remain optimistic and positive as well as Christopher Nolan about the July 17 opening,” said Zoradi this morning in response to a question from analyst Eric Handler about the pic’s release. This despite the fact that New York and Los Angeles have yet to set a date for the reopening of movie theaters.
Zoradi continued to emphasize that even with reduced auditorium capacities at 50%, “we can operate profitability with all the techniques we put in place.”opening on July 17, and noticed a huge positive response from the second trailer they dropped recently on Fortnite indicating a “pent-up demand to see the movie…we can’t promise you nor Warner Bros thatcan open on July 17,” said Zoradi, but the chain “has to choose a date that you can plan to” when it comes to reopening.
Also on today’s call, Zoradi says he expects the chain’s Latin American theaters to open in August given how the COVID-19 pandemic trailed the U.S. outbreak.which cited that moviegoers’ interest in returning to theaters jumped from 40% to 75% if COVID-19 restrictions are put into place at cinemas.
Zoradi today said that Cinemark’s phased reopening between June 19 and July 10 will occur with five theaters opening in the first week around the chain’s Dallas Fort Worth area HQ followed by a third of the chain’s theaters in the second week, another third in the subsequent week, and the remaining theaters leading into the July 10-12 weekend. During this time, the exhibitor will be testing its systems, and programming studio catalog titles at reduced ticket prices.
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