Are You Ready To Go Back to Movie Theaters? Take Our Poll
Movie theaters have been among the hardest-hit businesses during the pandemic.
In October 2020, Regal Cinemas announced it would close all 536 of its theaters in the country and furlough roughly 40,000 employees.
With uncertain reopening timelines and consumer fears for entering theaters, Warner Brothers made the controversial move to release its entire 2021 release schedule simultaneously on HBO Max and in theaters. The 17 films and their hybrid release model is estimated to cost Warner Media $1.2 billion in revenue, Variety reports.
AMC, the largest theater chain in the world, remains deepest in the red, Deadline reports, because of its high debt load and liquidity issues. Still, AMC announced recently it was able to raise $700 million in new financing, and it seems as though it will be able to survive the pandemic.
Your Opinion Matters: Would You See a Movie in a Theater? Share Your Thoughts
Despite the difficult year, Wall Street seems to be bullish on theaters moving further into 2021. B. Riley Securities analyst Eric Wold stated in a note to clients that he believes pent-up demand will drive a burst of moviegoers once theaters reopen, Deadline reports.
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