Closed Regal cinema, NYC. Photo by Ronny Coste on Unsplash (1)

Moviegoing teeters as 700 North American cinemas close ‘overnight’

Amid an alarming surge in COVID-19 cases, 646 theaters closed late last week in the U.S., along with 60 locations in Canada. It’s no surprise why box office observers are trying to not freak out. Over the Nov. 20-22 weekend, Blumhouse and Universal’s campy body-swap reboot Freaky came in at No. 1 with $1.2 million in its second outing, a steep 66 percent drop. That’s by far one of the lowest chart-topping grosses of all time — much less for the weekend before Thanksgiving, one of the most lucrative corridors of the…

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Cineworld PLC considers CVA – what does this mean for cinema’s future?

Cineworld PLC is currently in amongst talks with advisors and creditors to enter a CVA agreement. A completely voluntary agreement means a chance to wipe off unsecured debts and restructure agreements with landlords. The company has currently shut all 657 sites across the U.K. and America. The Financial Times is reporting that the consideration is being used to cut costs across the board to aid its survival. CVA’s are a way to prevent a company from entering administration and going bankrupt. Sites can also be expected to close as the company looks to…

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St Enoch Centre entrance. Photo from Wikimedia Commons

Vue to open new Glasgow site in 2021: ‘We strongly believe in the future of cinema’

“WE strongly believe in the future of cinema” – a senior figure at a big screen chain has revealed his optimism for the industry despite the pandemic. Major chain Vue will open a new multiplex in Glasgow city centre at the start of 2021. The opening is scheduled for the first quarter of the year and a long lease will hook Vue into the facility for 20 years. The nine-screen facility will be part of a new £40 million leisure development at the St Enoch Centre mall, which opened in…

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