added movie screens tend to dim theaters\' profit pictures

by:XY Screens     2020-02-26
With box-
Office revenues are more than ever before, and summer blockbusters are also being released, which should be a glorious day for American cinema operators.
But peek at the Orange century stadium on the 25 th. In one mega-
On the most recent Tuesday night, Tom Cruise fights, shoots and grinns on the movie screen, blockbuster Mission: Impossible 2 in a 137-seat full of empty people
Elsewhere in the luxury cinema, two couples watched Shanghai Noon in one auditorium and six viewers watched aunt\'s house in another.
Exhibitors in many countries did not make good profits, but struggled under severe financial pressure.
The culprit is five.
A year of architectural revelry gives theater chains too many screens, too much debt and too much competition.
In the construction boom, film exhibitors, while absorbing losses from old cinemas, also invested money in new luxury cinemas. with the opening of high-end cinemas, customers quickly avoided old cinemas.
Earnings evaporated, losses increased and share prices fell.
The crisis spread across the industry--
And customers.
Exhibitors trying to support the bottom line have pushed up fares, which have now reached $9.
In some metropolitan areas, $50 is likely to reach $10 by Christmas.
When the price of all discount tickets is included, the national average fare rises to $5.
In 08, the first breakthrough of $5.
Analysts say the temptation of supermarkets
While many cinemas lack customers and chain theaters are closing hundreds of smaller theaters, plexes makes it easier to raise fares.
\"I think it\'s too bad,\" said Anita quanstrom, a resident of alesaw Vijo, who has grown tired of rising fares and therefore reduced viewing.
\"I like to go to the movies, but I won\'t pay $8. 50.
I can buy something with my salary. per-
A lot less views.
\"Overall sales have risen and enrollment in the United States has declined. S. box-
Office sales topped $7 billion for the first time last year.
This increase reflects higher prices as enrollment actually dropped slightly last year.
Viewers also paid more at the franchise booth, paying $8.
A bucket of popcorn and a large Coke.
Purchasing food and beverages accounts for about 28% of cinema operators.
John Holmes, an analyst at APS Finance, said: \"You will think things will be optimistic . \"But they are not.
Each of America\'s four movie chains-
Regal Cinema
Los Angeles studios entertainment company.
Cammike cinema company
And AMC Entertainment--
The past two years have lost $0. 34 billion. The 2,000-
United Artist Theatre Limited
The debt was overburdened and auditors questioned whether it could survive.
Silver Cinema International Limited
As the parent company of the Landmark Theater and the largest art chain, it has filed for bankruptcy protection.
\"This is critical,\" said Christopher Harris, an analyst at Bank of America Securities.
\"Over the next 12 to 18 months, we may see a restructuring of the industry as capabilities decline.
\"Theater construction has reached a frenzy in 1997, has slowed sharply this year, and should shrink further in 2001.
When the theater is built, they may have fewer screens. -
Industry insiders said 16 to 20 instead of 25 to 30.
Jack Kyser, chief economist at Los Angeles County Economic Development, said the slowdown in theater construction could also have a broader economic impact, blocking plans for new retail development.
\"The issue of cinema chains will have a significant impact on the entire retail development area,\" he said . \".
\"This will definitely bring trouble to many projects.
Knoxville, Tennessee-
Headquartered in Regal, China\'s largest chain with 4,400 screens, has been actively building over the past two years.
But the company plans to close up to 200 screens this year and close similar numbers in 2001.
AMC, based in Kansas City, Missouri.
In the last fiscal year, 279 screens were closed and 175 screens were expected to be closed this year.
Two regional chains of Edwards theater circuit
Sanborn theater company
Similar actions are being taken.
\"The old theater has closed down,\" said James Edwards III, president of the largest theater operator in Southern California and privately held Newport Beach.
\"They fell like stones.
\"The expansion plans of film companies trying to free themselves from expensive leases have been strongly resisted by landowners, many of whom rely on theaters to attract customers to shopping malls.
\"For a center, having a large space like a movie theater is an absolute death,\" said Gregory Stoffel, owner of Irvine Stoffel & Associates Consulting.
No wonder, Edward--
More than a dozen theaters have been closed last year and plans to dump another 20 ---
Has been involved in legal disputes with three landlords.
James Edwards admitted in a recent interview that some of the old theaters caused financial tensions and that the number of employees last year was \"moderately reduced \".
But he said the chain is making plans to expand, noting that sales rose to record levels last year, up 8% so far this year.
Despite the heavy losses, Loews plans to continue to expand.
\"While some say the industry has built too much, this is what really drives the growth of the film business,\" said Mindy Tucker, vice president of the company . \".
Analysts trace the industry\'s current problems
The screening of the United States began on 1995, when AMC first opened 24-screen mega-plex in Dallas.
The bold move prompted other companies to adjust their expansion plans and competition is underway.
When the movie watchers flock to the gorgeous new theater in the comfortable stadium and ears --
In the end, the building exceeded the demand.
From 1995 to 1999, the number of movie screens surged by 34%, while the number of admissions to theaters increased by only 17%.
The impact of the industry itself:
Last year, revenue per screen fell for the first time since 1995, and the trauma has finally become apparent.
In some cases, mega-
Plexes sprouted rice flowers turn over.
Three years ago, when AMC refused Edwards to become an anchor theater at Ontario Mills Mall, Edwards retaliated and set up a 22-
The screen cinema opposite the parking lot.
This gives the viewer a head.
Rotate 52 screens to choose from and highlight the fierce competition between Edwards and AMC.
\"We\'re all fighting for the same position and AMC did it,\" Edwards said . \".
\"It made us a little crazy and wanted to build a house across from them.
\"AMC is not very happy.
\"Having two theaters of this size is certainly not an ideal situation,\" AMC spokesman Rick King said . \".
But both companies say their Ontario theater is doing well.
AMC built a 30-in Orange-screen mega-
Plex 25 miles away-
Century Stadium.
Amid the downturn in century business, the AMC complex in the orange shopping and entertainment center neighborhood has become the busiest chain in Southern California.
There are fewer and fewer films made to fill in more screens, although many screens bring flexibility to the exhibitor\'s schedule, some say
The complex trend is disappearing as there is not enough film to hold all the screens and there is not enough customer to hold all the seats.
In fact, 9% films were released last year, down from 1998.
So 30 screens on Saturday night may be an asset, but it can be a headache before Monday afternoon.
\"I think the general consensus is that,
\"Plex is not very successful,\" said Francesca dinlasa, senior editor of Pasadena Box Office Magazine . \".
Things around 16 [screens]
It seems to be the favorite of future enterprises.
\"In order to attract more business, some exhibitors offer more food options as well as other services and attractions, including infants.
Sitting and even skating rink.
Marc Pascucci, spokesman for New York, said: \"We must constantly reshape our image as a destination for entertainment . \"based Loews.
\"If we continue to make small boxes and flashing lights on the wall, we are dinosaurs.
But even if revenue increases and spending cuts, the industry may need two or three years to adjust itself, analysts say.
\"People built too much and they borrowed money to do it,\" said Michael Plancey, an analyst at Merrill Lynch Global Securities . \".
\"It is not easy to reverse this trend. \"(
Start text of infobox/Infographic)
Although the box is strong, it is still large.
Office sales, the loss of large theater chains is increasing, which carry heavy debt to build large theaters. *Box-Office Sales (in billions)*1999: $7. 4 billion*U. S. Movie Screens (in thousands)
1999: 37,185 screen * Net income of the largest cinema chain in the country:
Millions by fiscal year)*--
* 1996 1997 1998 1999 AMC Entertainment * $19. 00 -$24. 50 -$16. 00 -$55.
Carmike Cinema-7. 30 20. 20 -30. 70 -18.
90 Loews Cineplex Entmt. ** -0. 18 -0. 14 -5. 90 -51.
There are 25 Regal Cinemas in 40. 10 25. 20 -73. 60 -88. 60*--
** End of fiscal year
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