June 7, 2011
While they continue to hold onto National Amusements, Shari Redstone and some other investors unloaded Russian chain Rising Star to the country’s largest cinema company, Cinema Park. This is only a couple years since they purchased the now 75- theater chain from Shari’s father, mogul Sumner Redstone.
They actually made a tidy profit off the investment as emerging markets like Russia haven’t had as much of a problem with declining attendance like the U.S. They’ve also been more receptive to 3-D, while American moviegoers seem to be a little frustrated with the premium ticket prices. An interesting counterpoint to the decreasing value of cinemas in the States.
Read more in the Wall Street Journal
June 6, 2011
June 2, 2011
May 31, 2011
Are major chains diminishing the quality of 2D presentations by leaving 3D lenses on their projectors?
The online publication CinemaSpy, along with a considerable number of other online sources, is reporting that a number of major cinema chains are allowing inferior 2D presentations to occur regularly by not removing the 3D lenses from their projectors. Leaving the 3D lenses on the Sony digital projectors used by many of major exhibitors results in considerably dimmer image. When asked for comment, the chain spokepeople appear to offer ambiguous replies. The story that appeared in CinemaSpy can be read here and another story on the topic can be read at CinemaBlend.
May 4, 2011
NEW YORK, NY — The range of presentations being made available to digitally-equipped movie theaters in rapidly increasing. In addition to well-established offerings such the Metropolitan Opera Live in HD series and rock concert events, the options now include Broadway shows. The currently running Broadway musical “Memphis” will showing soon in about six hundred theaters as will “The Importance of Being Earnest” with undoubtedly more shows to follow. There is more in this story from Reuters.
In addition, more opera and ballet presentations are being made available by companies such as Emerging Pictures, which announced its offerings for 2011-12 here.
Another reflection of this trend is evident in the emergence of a new theater operator which calls itself Digiplex Destinations, which has acquired two theaters and intends on further expansion. Perhaps the day is coming when we shall no longer go to the movies, the cinema, or to a theater, but to a DEC – digital entertainment center. There is a story about Digiplex here.
April 25, 2011
LOS ANGELES, CA — The U.S. theater chain best known for showing independent and art house films is being – tentatively – put on the auction block. According to co-owner, Mark Cuban, the move is intended to determine how much the marketplace actually values the operation, and if the offers undervalue the the chain’s worth, the offer to sell will be withdrawn.
There is more in the Hollywood Reporter.
April 12, 2011
COAUTHOR: Ing. Ivana Hudakova, PhD., Department of Management, University of Economics in Bratislava
The Swedish venture capital company Ratos AB announced it has acquired 100 per cent of the shares of the film distribution and cinema company Finnkino Oy from the Finish media group Sanoma. For experts the transaction does not come as a big surprise. Sanoma tries to focus its activities on consumer and business-to-business media and Finnkino did not fit very well to this strategy.
Finnkino, established in 1986, has three business areas: cinema exhibition, theatrical distribution and DVD distribution and is active in Finland, Estonia, Latvia and Lithuania. Finnkino’s cinema operations use the brand FINNKINO in Finland and FORUM CINEMAS in the Baltic countries. Their common logo is a simple letter “f”. The biggest Finnkino theater is Tennispalatsi Helsinki with 14 screens and 2,696 seats. The company also operates the oldest Finnish movie theater MAXIM Cinema.
Despite the recession, ticket sales reached record numbers in 2010. Online ticketing especially has really risen recently and will probably grow even more.
Online booking is a predominant trend for acquiring movie tickets in the US and Europe. As stated by the new market research report, United States and Europe account for a major share of the global Online movie ticketing services market. While online sales for movie tickets are increasing, they are yet pretty minimal in comparison to the standard walk-up box office, so online market has plenty of room for growth in the next five years, and much of that growth will come from beyond the developed nations where the number of home PC penetration, Internet cafes, and Internet usage are all on the rise.
Read more in the San Francisco Chronicle.
April 1, 2011
The Spanish Ministry of Culture published lately the cinema and exhibition statistics for the last year.
The number of cinema sites grew with nine new theaters to 860. The actual screen number is 4 080 (two screens less over December 31, 2009). The statistics neither included the number of digital screens nor 3D-capable screens in the country. According to Media Salles, a project operating within the European Union’s MEDIA Programme, Spain had 750 digital screens at the end of 2010, almost tripling the 2009’s count, but still less than one fifth of all the screens.
Every major movie market reports some specific statistics. Among those from Spain are the highest grossing screens of the country, but without concrete revenue numbers. The king of this indicator is the auditorium number 25 in the world largest theatre Kinepolis Madrid. In the top 10 Kinepolis has three more screens with screen #6 in Madrid at the eight position and screens #23 and #24, both in Valencia, at the ninth and tenth position. The second highest grossing screen in Spain is the winner for last four years, an IMAX screen located in Barcelona. A little surprise is on the fifth position, a screen located on the holiday island Tenerife (Yelmo Meridiano, screen #1).
March 29, 2011
BEIJING, CHINA — The IMAX Corporation, in partnership with China’s Wanda Theatres, will be a major part of China’s cinema building boom having announced that it intends to build seventy-five IMAX screens at multiplexes owned by Wanda. IMAX had earlier announced plans to add fifteen screens in South Korea.
“China has set its cultural industries as pillar industries,” said Wang Jianlin, chairman of the Wanda Group, the real estate giant that owns the cinema chain. China’s centrally planned economy now spends only about 3 percent of its GDP on cultural development, less than half the world average, Wang said: “The agreement with IMAX will help China achieve its 12th five-year plan.”
The full story is in the Hollywood Reporter.