The movie chains have suffered a severe setback in 2020, and it seems that the production companies have not helped much. On the contrary, they turn their backs in favor of domestic streaming.
The pandemic is going to change many things. Some temporarily. Others, maybe forever. The theaters have been with us for over 100 years, but in 2020 suffered one of his toughest seasons . And movie companies don’t help, with their simultaneous premieres on their streaming platforms, which is where the money is right now … until the subscription bubble bursts. It won’t take long.
AMC Theaters , one of the largest cinema chains in the world (owner of the Spanish Cinesa ), has filed a petition with the US Securities and Exchange Commission to request a loan of 100 million dollars, which will only last until January. If in 2021 it does not get 750 million dollars, it will go into bankruptcy.
According TechSpot in writing to attend the AMC petition mentions the decision of Warner to publish all his films in 2021 at the same time in cinemas and on HBO Max , and ensures that this will make other theater chains have to close.
Cinemas have been one of the businesses most affected by the pandemic , since even after confinement their use has been limited, as they are closed places where many people accumulate. They have opened with limited capacity, but many spectators are still afraid.
In 2020 many production companies, especially those that have their own domestic platform, such as Disney or Warner, have chosen to release the films at the same time in theaters and in streaming .
Although this makes sense during lockdowns, Warner’s announcement to extend this practice throughout 2021 has caused great upset , when the pandemic is supposed to subside earlier, and cinemas will need support to recover.
This will mean that movies like The Matrix 4, The Suicide Squad, Mortal Kombat or Dune will be released simultaneously in theaters and on HBO Max.
Director Christopher Nolan, who works for Warner and recently released Tenet , has commented , after hearing the news that, ” I went to bed thinking I was working for the best film studio in the world, and I woke up working for the worst streaming platform “. Others, like James Gunn and Denis Villeneuve, have also been highly critical of the measure .
AMD Theaters is one of the largest theater chains in the world. It has 594 theaters in the United States and 359 theaters in the rest of the world, including the Spanish Cinesa . Its workforce exceeds 20,000 workers. HBO Max will arrive in Spain in 2021 .