AMC is betting that movie-lovers won't be able to keep away from seeing Christopher Nolan's highly anticipated blockbuster premier of 'Tenet' on the big screen.
The movie theater chain announced on Wednesday that it will reopen 70% of its theaters – about 140 more – for the highly anticipated Sept. 4 premier about avoiding World War III.
Still, even with additional theaters being reopened with extra health and safety protocols, questions remain about the vitality of the movie industry business model, in particular its long-standing practice of releasing films to theaters like AMC first.
Indeed, the pandemic and subsequent shutdown has put movie-theater operators in a dark space financially, not only due to sudden and massive losses in revenue but also due to the runoff effect of more people streaming content directly.
The first in-theater release, Russell Crowe’s road-rage thriller “Unhinged,” came out last weekend to decent reviews but only $4 million in box-office sales – a paltry number but a sign for executives and others that moviegoers are willing to venture out to watch a movie on the big screen.
More telling will be how Disney’s (DIS) - Get Report mega-budget movie “Mulan” does. The live-action blockbuster will also be released on Sept. 4, though directly through Disney’s Disney+ streaming channel.
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