Christian De Schutter’s Post

"With Chatham Theater now closed, there are only two movie theaters on Chicago's South Side: AMC Ford City 14 and Harper Theater in Hyde Park." I agree with Alderman Ronnie Mosley as this is a major blow to Chicago's far south side. So now, our neighborhood entertainment funds will be spent in another neighborhood similar to our grocery stores, healthcare, and housing. We understand that certain industries will be greatly impacted by advances in technology, but the entire south side has to share only two movie theaters. The Johnson Administration needs to launch an Economic Stimulus Package for the south and west sides that will dwarf any previous efforts to give confidence and boost morale to the business community and residents. This should be paired with county, state, and federal funds as well as private funds. The south and west sides were just seeing the weight of the 2008 Recession lift as home values increased and capital begin to flow again. Then, within a matter of three years, we were hit with a global pandemic that completely devastated our neighborhoods with untold suffering, loss of lives, education setbacks with our students, and job losses. Due to the murder of George Floyd, our communities endured civil unrest with damaged properties and widespread panic while dealing with a global pandemic. As the pandemic slowed down and the civil unrest settled, our communities were hit with inflation, which wiped out any savings or gains our residents and businesses may have accumulated. We must approach our communities on the south and west sides with an aggressive development strategy. Any plans or goals created prior to 2020 will need to be re-evaluated and/ or accelerated at twice the speed to catch up with the rising demands. https://lnkd.in/dFEssxA6

The top movie theater chains in the U.S. are planning to invest $2.2 billion to upgrade their theaters over the next three years. “Box office levels [are] getting very close to pre-pandemic levels,” said David A. Gross, who runs the movie consultancy Franchise Entertainment Research. “The lineup [of new movies] looks steady and strong again, and it looks good into 2025, and that’s what the theater owners are looking at and saying ‘we can now spend some money,’” With a seemingly favorable upcoming movie slate set for the next couple of years, movie theater companies are now in a spot to bet on more premium experiences. Enhancements could feature cutting-edge laser projection technology, immersive sound systems, upgraded seating, and an improved selection of food and beverage offerings — including alcoholic drinks. Read more: https://lnkd.in/eAJPQX-U #SweibelArts #Trendwatching #Movies #PremiumExperiences

Staying Competetive, Movie Theater Chains Get $2 Billion Renovation Movie Theater Chains Movie theater chains have had a tough few years. Between COVID shutdowns and the Hollywood strikes… These companies have been bleeding money trying to bring back audiences. But now, with a fresh new $2 billion investment, movie theaters across North America have a new ace up their sleeve… But is it enough to keep the projectors running? Investing In Movie Theater Chains Last Month, the National Association of Theater Owners, AKA NATO, a group representing some of the biggest movie theater chains… Announced a massive new $2.2 billion investment to remodel thousands of theaters nationwide. NATO, which represents AMC theaters, Regal Cinemas, and Cinemark, will be using the investment to renovate 21,000 screens… THIS MEANS OVER 70% OF THEATERS IN AMERICA WILL BE A MUCH-NEEDED FACELIFT. The renovation plans encompass every part of movie theater chains. Inside the actual theater, the latest projection and sound systems will be installed, along with new seating. Movie theater chains will also feature new concession areas, and in some theaters, bowling alleys or arcades. Most importantly, the renovations include new carpets. Say goodbye to the mildewy scent of 90s carpeting on your way to watching the latest Marvel movie. This move for movie theater chains is part of a larger strategy shift that makes these companies more competitive. AMC theaters, for example, are shifting their plan to include more diversity… By offering concert films… And by banking on the hype of movie popcorn buckets. Chains are also facing pressure from luxury theater chains… Like Alamo Drafthouse which offers a higher-end experience. …And We’re Rolling! It’s not just theaters that are trying to bring audiences out of their homes… Earlier this year, Netflix announced it was expanding into the in-person experiences sector, with Netflix House. As it stands, NATO is confident in its ability to revive movie theater chains and bring them back to their former glory… And industry analysts agree. Paul Dergarabedian, senior analyst at Comscore, said… “WHILE THE MOVIE THEATER BUSINESS HAS ITS UPS-AND-DOWNS LIKE ANY OTHER, THE THROUGH LINE IS THAT YOU SHOULD NEVER BET AGAINST THE BIG SCREEN EXPERIENCE AS IT HAS SURVIVED AND THRIVED THROUGH DECADES OF CHALLENGES AND INTENSE COMPETITION…” It seems clear that despite the challenges… For now, movie theater chains are going to keep projecting the latest and greatest in cinema.

In a world where movie magic meets merch mania, Rachel Woodall's $60 splurge on a "Mean Girls" Burn Book popcorn tin reveals a trend reshaping the cinema experience. 🍿 💸 The allure of collectible popcorn buckets is soaring, with chains like AMC cashing in on themed treasures, driving a staggering $54 million in movie-themed merchandise revenue. But it's not just nostalgia driving sales; it's strategic marketing. From "Wonka" to "Dune," collectible buckets are turning concession stands into retail goldmines, transforming movie nights into full-blown events. Yet, for some theaters, the risk of investing in collectibles looms large, with economic challenges like higher price points and uncertain demand from increasingly cost-sensitive consumers. Nevertheless, with the right movie and the perfect popcorn bucket, theaters are betting on the magic of the movies—and the passion for collectibles. ✨ 📽 Read more at TheWrap ➡ https://lnkd.in/gH2w3R_W ------- If you like this post and want to learn more about collectibles, the hobby and the industry, please: ➕ FOLLOW 👍 LIKE ✍ COMMENT ♻️ REPOST #collectibles #movies #memorabilia #entertainment #merchandise

In the hospitality industry, enhancing the customer experience during product consumption is pivotal for maximizing revenue opportunities.

The visit surge brought on by 'Inside Out 2' sets an entirely new industry benchmark 👀👏 In a surprising feat, the film's release in June surpassed other major blockbusters from the past two years. During the week of June 10th, AMC, Cinemark, and Regal Cinemas experienced peak week-over-week (WoW) visits of 76.7%, 70.5%, and 83.2% respectively. This momentum continued with additional increases of 14.8%, 18.2%, and 14.3% in the following week. Compared to the weekly average of Q2 2024, 'Inside Out 2' led to visit increases ranging from 67.5% to 72.6% across these three major theater chains. Further analysis of the top visited locations at AMC, Cinemark, and Regal Cinemas indicates that 'Inside Out 2' attracted a higher percentage of visitors from households with children and lower-income households. This underscores the film's broad appeal and accessibility, solidifying its impact in the market. 🍿 Check out the report for the full analysis - linked below in the comments. #entertainment #success #consumerinsights

Q: Why is it unusual for movie studios to own movie theaters? Sony Pictures Entertainment acquired the eclectic dine-in theater chain Alamo Drafthouse Cinema, an unusual example of a studio owner buying a theater chain. But why isn’t it more common? We asked reporter Robbie Whelan. A: “For starters, from the late 1940s until 2020, most big movie studios were prohibited under federal law from owning theater chains. A law from Hollywood’s Golden Age was meant to reduce the control that the original major studios like Warner Bros., 20th Century Fox and Paramount Pictures maintained over the industry by owning both the means of production and distribution of movies. That law didn’t apply to Sony, a relatively new entrant in the world of film distribution. These days, however, there’s a simpler explanation for why studios haven’t shown much interest in owning theaters: Theatrical exhibition is a business in decline. Most theaters were shut down during the pandemic, when the anti-consolidation law was overturned, and most big media companies pivoted hard over the last five years to the direct-to-consumer model, investing billions in building their own streaming services, which have since majorly eaten into the profits of theaters. Sony, which is sometimes referred to as an ‘arms dealer’ of content that is then distributed by other companies, has mostly resisted the trend of investing in streaming, preferring instead to license its content to established streaming services like Netflix. Buying Alamo makes a bit more sense for Sony compared to others, because Sony doesn’t own one of the major streaming platforms that might cannibalize the sales of tickets to its movies at the box office.”

Upbeat Cinemark Credit Rating: "Cinemark‘s credit rating has been raised by S&P Global, a small sign of optimism that exhibitors [but not all] can weather the impact of Hollywood strikes and pandemic-altered moviegoing habits...The impact of the actors’ and writers’ strikes will largely be limited to 2024,” S&P said in a note. The delays or cancellations of film productions have hurt theater owners and created “material disruption” to this year, the agency continued, meaning that Cinemark and other exhibitors “will be directly affected by reduced box office attendance.” In line with other forecasts, S&P said total domestic box office should fall about 10% this year, to between $8 billion and $8.25 billion. “While disruption to the release slate could spill into 2025,” S&P added, “we expect films pushed into 2025 from 2024 will help negate substantial disruption.” Market Benchmark. #cinema #leisurepropertyESS THE LEISURE PROPERTY FORUM https://lnkd.in/eqSJyeah

This article asks an interesting question and maybe it is a glass-half-full situation. Yes, exhibitors leaning on landlords to lower rents is part of the explanation - as WSJ recently pointed out, it is hard to re-purpose cinemas into anything else. But my suspicion is that lowering seating numbers with the introduction of recliners, doubling down on premium and introducing wider location-based entertainment options (climbing walls!) also has something to do with this. No doubt this and more being discussed at CinemaCon https://lnkd.in/e2yCEMpX

There is something magical about walking into a theater for a movie. It is an experience unlike almost any other: losing oneself to the darkness, feeling the bass in your chest. The world fades away for 90 minutes, and maybe that’s part of the charm. But what if you could create that experience in your own home? Home theaters are becoming more and more of a reality for many as it becomes easier to find and stream high-quality films, and the costs of the equipment necessary to recreate that theater experience in your own home are within reach. Brian Duggan, co-owner of Union Place, is no stranger to both the movie-going experience and home theaters. “I live, eat, and breathe these things,” says Brian, and here, he offers us a tour through the “ultimate” home theater. The ultimate home theater is a “dedicated room with a projection system primarily used for watching sports or TV,” says Brian. While many spaces, including some home theaters, are designed with many purposes in mind, to Brian, the ultimate home theater is a space entirely dedicated to the TV-watching experience. Learn more on how Brian can help you create your own unique home theater experience and read the full story here: https://lnkd.in/gU6expkV . . . . #springinmn #springfun #homeremodel #homebuild #homedesign #exploremn #onlyinmn #lakeminnetonkalife #CLLakeMinnetonka #CityLifestyle #LakeMinnetonkaLifestyle #LakeMinnetonka #LakeLife #CityLife #LiveLocal #smallbusiness #SupportLocal #Minnesota #Local #MN