AMC Theaters expected to file for bankruptcy

arizonaguy
Store Manager
Store Manager
Posts: 1107
Joined: July 12th, 2013, 6:07 pm
Been thanked: 35 times
Status: Offline

Re: AMC Theaters expected to file for bankruptcy

Post by arizonaguy »

AMC Theaters and Cineworld (Regal) are now refusing to play any Universal Studios movies after Universal publicly stated that they would release movies to theaters and on demand concurrently.

Honestly, I think the video on demand route is probably the future of movie releases and similar to the Kroger / Visa dispute Universal (and not the theater chains) will win this.

In addition, it could potentially hurt the movie theaters in the long run if they stop carrying hit movies.
klkla
Posts: 1614
Joined: February 24th, 2009, 3:26 pm
Been thanked: 2 times
Status: Offline

Re: AMC Theaters expected to file for bankruptcy

Post by klkla »

arizonaguy wrote: April 29th, 2020, 11:03 am AMC Theaters and Cineworld (Regal) are now refusing to play any Universal Studios movies after Universal publicly stated that they would release movies to theaters and on demand concurrently.

Honestly, I think the video on demand route is probably the future of movie releases and similar to the Kroger / Visa dispute Universal (and not the theater chains) will win this.

In addition, it could potentially hurt the movie theaters in the long run if they stop carrying hit movies.
It will be interesting to see how this plays out. Universal could smooth things out and say they will stop releasing them to both channels concurrently AFTER the crisis is over. It will probably take a while for theaters to get back to normal but people aren't going to want to do date night movies at home, and that's a big part of the theater business.

I think there will still be a place for theaters in the future.
Alpha8472
Posts: 3929
Joined: February 24th, 2009, 8:55 pm
Been thanked: 79 times
Status: Offline

Re: AMC Theaters expected to file for bankruptcy

Post by Alpha8472 »

Universal is owned by Comcast NBC. Comcast does not care. They make their money from people watching things at home on their televisions or on devices. The price of watching a movie at home for 4 people works out to $5 per person. At the theater it could be over $15 per person plus food and drinks.

People will choose what is cheaper. AMC and other cinemas will soon go the way of Blockbuster if they refuse to play popular movies. People choose the movie first, not what theater chain they want to see it at.
veteran+
Valued Contributor
Valued Contributor
Posts: 2234
Joined: January 3rd, 2015, 7:53 am
Has thanked: 1204 times
Been thanked: 72 times
Status: Offline

Re: AMC Theaters expected to file for bankruptcy

Post by veteran+ »

klkla wrote: April 26th, 2020, 3:31 pm
cjd wrote: April 26th, 2020, 2:48 pmThis is not complying with the state criteria for a sustained 14 day drop in cases. Few if any areas of the country could fit that criteria at the moment, and I don't think we're anywhere close to doing it anywhere. I think the majority of people realize this.

I'm not entirely sure why the cases keep rising so much. It's not like we're dramatically increasing testing capacity and testing wider ranges of society.
We have been increasing testing (but not nearly enough) so that is actually having a sizeable impact on why we are still seeing a rise in cases. We have tested 1,492,000 people in the last 7 days compared to 425,000 for the same period last month.
And to boot, the Governor is directing "officials" to NOT report cases and deaths accurately and/or incomplete.
Alpha8472
Posts: 3929
Joined: February 24th, 2009, 8:55 pm
Been thanked: 79 times
Status: Offline

Re: AMC Theaters expected to file for bankruptcy

Post by Alpha8472 »

Many closed theaters are selling fresh hot popcorn for pick up. People are indeed buying it for a home movie night. Harkins theaters and many independent cinemas are making money from it.

The cinemas make most of their money from concessions sales. This is a way for them weather this slowdown.
storewanderer
Posts: 14379
Joined: February 23rd, 2009, 3:54 pm
Has thanked: 2 times
Been thanked: 298 times
Contact:
Status: Offline

Re: AMC Theaters expected to file for bankruptcy

Post by storewanderer »

veteran+ wrote: April 30th, 2020, 7:05 am
And to boot, the Governor is directing "officials" to NOT report cases and deaths accurately and/or incomplete.
[/quote]

I heard from a different news source which may or may not be accurate that certain states in the east and west coast somehow have a financial incentive to over-report COVID-19 deaths. I don't quite understand how that would work.

Maybe if the coasts over-report and the middle states under-report it will all net out?
BillyGr
Store Manager
Store Manager
Posts: 1579
Joined: October 5th, 2010, 7:33 pm
Been thanked: 58 times
Status: Offline

Re: AMC Theaters expected to file for bankruptcy

Post by BillyGr »

storewanderer wrote: May 7th, 2020, 7:19 pm
veteran+ wrote: April 30th, 2020, 7:05 am And to boot, the Governor is directing "officials" to NOT report cases and deaths accurately and/or incomplete.
I heard from a different news source which may or may not be accurate that certain states in the east and west coast somehow have a financial incentive to over-report COVID-19 deaths. I don't quite understand how that would work.

Maybe if the coasts over-report and the middle states under-report it will all net out?
Perhaps to do with getting reimbursed for those who are diagnosed with this that didn't have coverage from insurance (or have limited coverage)? Thus, if they can make it look like a virus related treatment, they are guaranteed to get paid for doing it and not have to chase the individual (or family if it becomes a fatal case) to get that money?
veteran+
Valued Contributor
Valued Contributor
Posts: 2234
Joined: January 3rd, 2015, 7:53 am
Has thanked: 1204 times
Been thanked: 72 times
Status: Offline

Re: AMC Theaters expected to file for bankruptcy

Post by veteran+ »

BillyGr wrote: May 9th, 2020, 1:11 pm
storewanderer wrote: May 7th, 2020, 7:19 pm
veteran+ wrote: April 30th, 2020, 7:05 am And to boot, the Governor is directing "officials" to NOT report cases and deaths accurately and/or incomplete.
I heard from a different news source which may or may not be accurate that certain states in the east and west coast somehow have a financial incentive to over-report COVID-19 deaths. I don't quite understand how that would work.

Maybe if the coasts over-report and the middle states under-report it will all net out?
Perhaps to do with getting reimbursed for those who are diagnosed with this that didn't have coverage from insurance (or have limited coverage)? Thus, if they can make it look like a virus related treatment, they are guaranteed to get paid for doing it and not have to chase the individual (or family if it becomes a fatal case) to get that money?
This particular governor wanted under reporting to justify opening up the State prematurely. I guess the underlying agenda goes both ways. Unbelievable...............
cjd
Assistant Store Manager
Assistant Store Manager
Posts: 624
Joined: August 18th, 2018, 6:54 am
Has thanked: 3 times
Been thanked: 6 times
Status: Offline

Re: AMC Theaters expected to file for bankruptcy

Post by cjd »

veteran+ wrote: May 9th, 2020, 5:06 pm
BillyGr wrote: May 9th, 2020, 1:11 pm
storewanderer wrote: May 7th, 2020, 7:19 pm

I heard from a different news source which may or may not be accurate that certain states in the east and west coast somehow have a financial incentive to over-report COVID-19 deaths. I don't quite understand how that would work.

Maybe if the coasts over-report and the middle states under-report it will all net out?
Perhaps to do with getting reimbursed for those who are diagnosed with this that didn't have coverage from insurance (or have limited coverage)? Thus, if they can make it look like a virus related treatment, they are guaranteed to get paid for doing it and not have to chase the individual (or family if it becomes a fatal case) to get that money?
This particular governor wanted under reporting to justify opening up the State prematurely. I guess the underlying agenda goes both ways. Unbelievable...............
I don't believe it's just Florida though. I've heard similar things about NY, and likely other places. I think very few of these states that are opening actually meet the 14 day requirements.
jamcool
Store Manager
Store Manager
Posts: 1019
Joined: March 5th, 2009, 10:27 pm
Been thanked: 50 times
Status: Offline

Re: AMC Theaters expected to file for bankruptcy

Post by jamcool »

Can’t they get the money from their owners?
Post Reply