Will Movies Ever Be Safe Again?
If you're a movie fan, you know that sequels rarely live up to the original, much less surpass it. Cinema chains across North America have been hit hard by the COVID-19 pandemic, and lately, they've been working on sequels of their own. The big three U.S. chains — AMC, Regal, and Cinemark — say they have a plan for a safe return to the movies, with social distancing and sanitization protocols. But the challenges they face suggest that their plan's headed toward an ending more "cliffhanger" than "happy."
Cinemark Holdings, Inc. (NYSE: CNK) CEO Mark Zoradi appears in a website video with a statement equal parts assertive and aspirational. "There's nothing quite as powerful as great cinematic storytelling on the big screen," he says. That is the one thing cinema chains across America are banking on as they announce plans to reemerge in the age of Netflix.
Cinemark USA is the third-largest chain in the U.S. based on the number of theatres, with 4,630 as of February 2020, after industry leader AMC Entertainment Holdings, Inc. (NYSE: AMC) with 8,043 theatres, and UK-based Regal Entertainment Group (a private company with 7,178 theatres).
Source Fool.com
