The Death of Movie Theaters? Not So Fast
Reports of the movie theater’s demise seem to have been greatly exaggerated. Hollywood has bemoaned the death of movie theaters for the better part of a decade — perhaps longer. But the nation’s most prominent film exhibitors, which recently reported quarterly earnings, tell a different story: The theater business is not only healthy, but possibly thriving. Cinemark, AMC Theatres and Imax all reported third-quarter revenue earlier this month that was much-improved compared with the same three-month period a year ago. Cinemark’s CEO Mark Zoradi said the chain had record worldwide revenue in the quarter. Rich Gelfond, CEO of Imax, said the exhibitor was on track for its best year ever at the global box office. And AMC saw record attendance, according to CEO Adam Aron. “We are on track for a strong fourth quarter to cap off our record breaking year as we look ahead to a 2020 slate, which features more blockbusters than ever filmed in Imax,” Gelfond said during the company’s quarterly conference call. Also Read: Netflix's Ted Saranados Hints at 'Permanent' Reopening of NYC's Historic Paris Theater Imax has the Disney phenomenon of “Avengers: Endgame” to thank for a lot of the year’s success. “Endgame” not only...
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