Cinemark CEO Sean Gamble is optimistic about how to get out of the movie business pandemic, and at the same time he is interested in new initiatives that will help him strengthen his position.
Talking about At the JP Morgan Global Technology, Media and Communications Conference on Tuesday, Gamble said it continues to grow and reinvigorate consumer interest beyond the big brands. Moving forward, Cinemark will continue to experiment with dynamic pricing and streaming platform pricing for movies to theaters.
Young people were the first moviegoers to return to the movies, Gamble said, while theaters still see some hesitation in older audiences, as well as among Northwest patrons who have been particularly hard hit by the pandemic. He hopes that will change with the release of “big, compelling movies” like Top Gun: Hipster, Which, in his opinion, has special potential to change the mix of audiences.
However, Gamble points out that films have returned more widely beyond the superhero and blockbuster genres, with smaller films like The dog s everything everywhere at the same time Performance at a “significant level”.
In its latest earnings report, Cinemark attracted a large audience Response to the film’s three-month release, which ended March 31, but also warned that the film’s release dates were changed from 2022 to 2023 due to production delays related to COVID-19. This means that 2022 will likely remain below pre-pandemic levels.
When consumer behavior changes during a pandemic, Gamble continues to believe in a shortened theatrical release window of 45 days, as well as a more flexible window for small and medium-sized films.
“We see that most of the box office is still happening in the first 45 days,” Gamble said. “So the movies that had that window, as I mentioned, we’ve seen on display before the pandemic or at a better level.”
During the pandemic, Cinemark also went through a testing phase with Netflix to try out its theaters. Cinemark is interested in showing these films in theaters, Gamble said, but had not yet agreed on terms and release windows.
Now, Gamble believes Netflix has a “real opportunity” to work with exhibitors due to the platform’s growing number of feature films, as well as increasing competition in the streaming space.
Cinemark also experiences dynamic pricing for consumers. The theater chain will not publish its findings for “competitive purposes,” but executives say they are pleased with the results.
“We see this as a great opportunity to move forward,” he said. Melissa Thomas, CFO of Cinemark.
Source: Hollywood Reporter
Camila Luna is a writer at Gossipify, where she covers the latest movies and television series. With a passion for all things entertainment, Camila brings her unique perspective to her writing and offers readers an inside look at the industry. Camila is a graduate from the University of California, Los Angeles (UCLA) with a degree in English and is also a avid movie watcher.
