Cinema chain confirms plans to reopen its outlets post-lockdown
CINEMA CHAIN Cineworld has confirmed it plans to reopen its 127 outlets in May following the easing of Covid-19 restrictions in the UK as part of the Government’s roadmap to economic recovery.
Bosses also revealed they will open cinemas in the US under its Regal brand from April 2, following six months of closure.
In addition, a deal has been struck with Warner Bros that gives the cinema chain, which also owns the Picturehouse franchise, exclusive rights to show films over streaming services.
The phased reopening in the US will start with a limited number of cinemas opening for Godzilla vs. Kong on April 2, followed by screenings of Mortal Kombat from April 16.
Chief executive Mooky Greidinger said: “We have longawaited this moment when we can welcome audiences back to our Regal theatres and restore our essential role within the communities we serve.
“With capacity restrictions expanding to 50 per cent or more across most US states, we will be able to operate profitably in our biggest markets.
“We will also be monitoring developments closely in the UK and across Europe as we set to gradually reopen across the world in line with local government guidance.”
The boss also revealed that Cineworld has reached an agreement with Warner Bros to show the studio’s films exclusively in its cinemas 31 days prior to them being made available on premium video on demand (PVOD) platforms for streaming at home.
An extended window of 45 days for films that open to an agreed-upon box office threshold has also been reached, it added.
Cinema chains have been fearful that, with the pandemic seeing studios turn to online platforms, it could set a longer term trend on new releases going straight into homes via PVOD services.
The producers of the new James Bond film No Time To Die have delayed its release twice to September 30.
We have longawaited this moment... Mooky Greidinger, chief executive of Cineworld