From first dates to family outings, a night at the movies used to be a huge pre-pandemic draw. However, one of society’s biggest rituals is struggling to recover, even as COVID-19 capacity limits are lifted. Like many other sectors, the longer-term survival of movie theaters is a huge open question, especially among small and independent operators. Many theaters across the country were shuttered for over a year as Hollywood drastically curtailed the number of new releases, or narrowed the… Source link
Read More »Disney to release rest of 2021 slate exclusively in theaters — but it won’t be the end of streaming-first strategy
In a surprise twist, Disney (DIS) updated its 2021 release schedule, choosing to release the rest of its jam-packed slate exclusively in theaters before the films become available on Disney+. “Following the tremendous box office success of our summer films, which included five of the top eight domestic releases of the year, we are excited to update our theatrical plans for the remainder of 2021,” Kareem Daniel, Disney media and entertainment distribution chairperson, said in a news… Source link
Read More »AMC is in ‘secular decline’ as Disney and other studios bypass movie theaters: veteran analyst
Shares of AMC and other theater chains popped after Disney said its film production schedule is heating up. But the shrinking exclusivity window for new releases means the industry is in “secular decline,” says one veteran media analyst. Disney, along with its earnings, announced that two films, “Free Guy” and “Shang-Chi and the Legend of the Ten Rings,” will play only in theaters for 45 days before being available to stream. “Black Widow” and “Jungle Cruise” will have a simultaneous… Source link
Read More »AMC soars 20%, plans to reopen California theaters this week – Yahoo Finance
Bloomberg Biden Eyes First Major Tax Hike Since 1993 in Next Economic Plan (Bloomberg) — President Joe Biden is planning the first major federal tax hike since 1993 to help pay for the long-term economic program designed as a follow-up to his pandemic-relief bill, according to people familiar with the matter.Unlike the $1.9 trillion Covid-19 stimulus act, the next initiative, which is expected to be even bigger, won’t rely just on government debt as a funding source. While it’s been… Source link
Read More »Why Warner Bros’ bombshell HBO Max announcement doesn’t mean movie theaters are ‘dead’: Analyst
TipRanks Billionaire Ray Dalio Picks Up These 3 “Strong Buy” Stocks Sometimes, the experts will tell us what we already know. Ray Dalio, the founder of Bridgewater Associates, has built a legendary reputation in financial circles, for taking his firm from a home business in his two-bedroom apartment to the international hedge fund giant, employing over 1,500 people and managing more than $138 billion in total assets. But when questioned on how he did it, or how today’s investors can… Source link
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