Cinemark aims to start reopening movie theaters in July
Will there still be summer moviegoing this year? At least one major theater chain is planning on it.
Cinemark CFO Sean Gamble in a call with investors on Wednesday said the theater chain, which like AMC and Regal closed its U.S. locations last month amid the coronavirus pandemic, has been "modeling an approximate four month ramp up, anticipating a July 1 reopen," The Wrap reports.
At the same time, Gamble noted that "we would not be in a scenario where we would be inclined to bring back everything day one." Instead, he said, reopening movie theaters would be "more a dip-our-toe type of approach," per Bloomberg.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
"In our current modeling, we are anticipating that a return to normalcy could take a couple of months to fully get going as a result of staggered theater openings from ongoing governmental limitations, reduced operating hours and potentially ongoing social distancing needs," Gamble also said.
Theaters could, for example, sell half as many seats to ensure customers would be spaced out and socially distanced, a step some chains already began to take shortly before they had to shut down all of their locations entirely. In a scenario where capacity would have to be reduced to 50 percent, Gamble said the chain could still operate "very profitably." Still, openings may need to happen on a "state by state, county by county" basis, he said.
Some movie studios also appear to be betting on July as when theaters can widely resume operations, as Disney recently set Mulan for that month after delaying it from March, and Warner Bros. hasn't delayed Christopher Nolan's Tenet, which is set for July 17. Still, the question remains whether audiences will actually return to movie theaters if a summer opening is actually possible. In a recent poll, when Americans were asked when they would resume their regular activities after coronavirus restrictions are lifted, just 20 percent said they'd so "immediately."
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Brendan worked as a culture writer at The Week from 2018 to 2023, covering the entertainment industry, including film reviews, television recaps, awards season, the box office, major movie franchises and Hollywood gossip. He has written about film and television for outlets including Bloody Disgusting, Showbiz Cheat Sheet, Heavy and The Celebrity Cafe.
-
Will Donald Trump wreck the Brexit deal?
Today's Big Question President-elect's victory could help UK's reset with the EU, but a free-trade agreement with the US to dodge his threatened tariffs could hinder it
By Harriet Marsden, The Week UK Published
-
Marine Le Pen's fake jobs trial
The Explainer The far-right French leader could face a fine, jail time, and a five-year ban from public office if found guilty of embezzlement
By Abby Wilson Published
-
How to earn extra cash for Christmas
The Explainer The holiday season can be expensive but there are ways to bolster your festive finances
By Marc Shoffman, The Week UK Published
-
Boeing machinists approve contract, end strike
Speed Read The company's largest union approved the new contract offer, ending a seven-week strike
By Peter Weber, The Week US Published
-
US economy still strong in final preelection report
Speed Read It grew at a solid 2.8% annual rate from July through September
By Peter Weber, The Week US Published
-
Boeing machinists reject deal, continue strike
Speed Read The rejection came the same day Boeing reported a $6.2 billion quarterly loss
By Peter Weber, The Week US Published
-
Ports reopen after dockworkers halt strike
Speed Read The 36 ports that closed this week, from Maine to Texas, will start reopening today
By Peter Weber, The Week US Published
-
Empty-nest boomers aren't selling their big homes
Speed Read Most Americans 60 and older do not intend to move, according to a recent survey
By Peter Weber, The Week US Published
-
Brazil accuses Musk of 'disinformation campaign'
Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
By Rafi Schwartz, The Week US Published
-
Disney board fends off Peltz infiltration bid
Speed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
By Rafi Schwartz, The Week US Published
-
Disney and DeSantis reach detente
Speed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
By Peter Weber, The Week US Published