My grandfather was the first in his county in West Virginia to go above the 8th grade. Worked in coal mines and steel mills for years so he could go to college. Brother got sick and spent every penny trying to save his life to no avail. Started saving again and finally got his degree from Berea college where you could work your way thru college. My understanding you still can do that with very little if any debt. I don’t take anything for granted.
AMC Says ‘Almost All’ U.S. Theaters Will Reopen in July
- Thread starter groveChuck
- Start date
JAMedia
Well-known member
Interesting comments. My only experience of the USA is working in silicon valley about 20 years ago as a high tech professional. In the UK "everyone" has a mobile phone but then we have something like 95% geographical coverage and 99% population coverage. A non- contract (non-smart) phone will cost you $5 and a top up card from $5 so "everyone" over the age of 10 has a mobile phone (even the homeless). Most have a smart phone though my 91 year old mother doesn't hers is basic.
For land lines the UK got to around 100% coverage about 40 years ago, not party but individual lines. However the use of land lines has been declining since then, especially in rented property as most younger renters now have smart phones and access the internet via them.
As noted previously most cinemas in the UK (other than art houses and non-chain) are all digital and the films are digitally delivered over broadband. However going to the cinema for most is a social event with friends and something before/after in town. So I think there will be a resurgence in going out to see movies (with friends) in the new year. (thread back on track
)groveChuck
U-matic Member
What do you get on cbs all access for how much? Are you keeping it?
ahalpert
Major Contributor
Star trek! That's the only reason I subscribe haha. Smart strategy on their part - target a loyal fanbase. They are producing 3 new trek shows (Picard, Discovery, Lower Decks) and soon a 4th (Strange New Worlds). The first episode of the new season of discovery aired 1 week after the final episode of lower decks.
They Trek so hard that it's its own category in the app, nestled between Kids and Classics:
They also have Peele's new twilight zone and whatever else goes on their channel.
$10 for no commercials. $6 with commercials. First month is free
I am considering canceling during times of no new trek episodes, but.... it may make more sense to keep paying them so they can afford to keep making them. Or maybe the signal is stronger if I cancel and resubscribe with the trek releases. I dunno
AMC just keeps digging deeper. From Marketwatch - "The share-sale plan comes after the company said before Friday’s open that it had secured a commitment for $100 million of new high-yield first lien debt financing,... The first lien notes, due 2026, will beat interest of 15% per year. "
More nails in the coffin. When a company was losing money in a pre-pandemic booming economy, what hope is there to bail out when having to service debts carrying a 15% interest.
More nails in the coffin. When a company was losing money in a pre-pandemic booming economy, what hope is there to bail out when having to service debts carrying a 15% interest.
From a CNBC article:
“Frankly I believe that Chapter 11 is really the only path that will lead to AMC surviving,” said Doug Stone, president of Box Office Analyst. “I cannot imagine that there is an appetite out there for another $750 million of stock sales, and any debt they assume will be at astronomical rates.”
“The easy answer is that if they declare bankruptcy, it is likely to be a reorganization rather than a liquidation,” said Wedbush analyst Michael Pachter. “In bankruptcy, they can wipe out their lease obligations and renew those leases that make sense, so arguably they can lower their overall operating expense.”
“Frankly I believe that Chapter 11 is really the only path that will lead to AMC surviving,” said Doug Stone, president of Box Office Analyst. “I cannot imagine that there is an appetite out there for another $750 million of stock sales, and any debt they assume will be at astronomical rates.”
“The easy answer is that if they declare bankruptcy, it is likely to be a reorganization rather than a liquidation,” said Wedbush analyst Michael Pachter. “In bankruptcy, they can wipe out their lease obligations and renew those leases that make sense, so arguably they can lower their overall operating expense.”
JAMedia
Well-known member
not a done deal https://www.bbc.co.uk/news/world-us-canada-55372499 this will make matters worse as even if the FAA stands by letting them fly again no one else is likely to. Which means the 737MAX will only be usable in the USA. It also harms the FAA a well as Boeing.
Having seen the 737MAX problems in some detail I would be surprised if it is flying world wide any time soon which will have a serious impact on Boeing.
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Run&Gun
Veteran
Unfortunately, here in the US, a lot of things are allowed here that the rest of the world does not, all to benefit corporations and not the consumers(like a lot of specific food additives and ingredients).
ahalpert
Major Contributor
Legendary strikes back - essentially they are suing to keep Dune as a theatrical-only release because they financed 75% of the budget and it's scheduled for a release in October anyway, well after the expected "late-spring" date of vaccine-based herd immunity
https://www.yahoo.com/amphtml/entertainment/legendary-fight-against-warner-bros-194348751.html
If they pull that s*%t off, I'll go see it on opening night
https://www.yahoo.com/amphtml/entertainment/legendary-fight-against-warner-bros-194348751.html
If they pull that s*%t off, I'll go see it on opening night
But if they gave away/sold the distribution rights .... (those go beyond theatrical anyway)
ahalpert
Major Contributor
Maybe their case is doomed. But part of what they're arguing is that denying dune a proper theatrical release will doom the franchise (I suppose by making it an unsuccessful box office and therefore making a sequel less likely?) Whether or not they have a case, I think the argument is that altering the plan diminishes the value of what WB didnt buy?
The Legendary likely argument is "you guaranteed so many theaters" and WB reply would be, "There aren't enough of them even open".
Presumably, WB has the final say about how and where a film is distributed and how much money is going to be sunk into the promotion and marketing (which can exceed the film's shooting budget) with the stipulated minumums. And since those contracts are the size of a telephone book - do people remember telephone books? - this will require teams of both lawyers and studio executives to unwind.
Uncharted waters, force majeure and so forth.
Presumably, WB has the final say about how and where a film is distributed and how much money is going to be sunk into the promotion and marketing (which can exceed the film's shooting budget) with the stipulated minumums. And since those contracts are the size of a telephone book - do people remember telephone books? - this will require teams of both lawyers and studio executives to unwind.
Uncharted waters, force majeure and so forth.
A side note but a snapshot of what is happening to the traditional distribution channels - the OTA TV.
Granted, this is a holiday week but the #1 show (the Bachelorette) had 5.2 million viewers. I repeat - 5.2. In the 1980's, the top rated Cosby Show averaged about 60M. The NFL can still get over 20M (most are combined viewership for the late double header) but dismal viewership numbers for scripted entertainment will likely lead to the streaming services getting the first dibs on that too. And that's one more strike against the movie theaters.
Granted, this is a holiday week but the #1 show (the Bachelorette) had 5.2 million viewers. I repeat - 5.2. In the 1980's, the top rated Cosby Show averaged about 60M. The NFL can still get over 20M (most are combined viewership for the late double header) but dismal viewership numbers for scripted entertainment will likely lead to the streaming services getting the first dibs on that too. And that's one more strike against the movie theaters.
Batutta
Major Contributor
Well Wonder Woman 84 being dumped on HBO Max is no great loss, as that movie is a hot pile of garbage. Terrible script, full of one dumb idea after another, with a tacky tone reminiscent of the worst Christopher Reeve Superman movies. Seriously disappointing. The whole creative team at DC/Warner needs to be replaced. The first Wonder Woman being good just seems like a fluke at this point.
Every time I see a big pic like WW I try and figure out how many writers worked on it. Flintstones film if I remember correctly employed fifty plus writers. Hollywood has a way of not giving a crud about writing, every time I get excited it has a way of screwing it up in new ways.
ahalpert
Major Contributor
Good news! Clooney thinks cinemas are here to stay -
Of course, it doesn't seem like he's run any numbers here...
The full interview (about Midnight Sky): https://www.google.com/amp/s/www.nytimes.com/2020/12/23/movies/george-clooney-midnight-sky.amp.html
Of course, it doesn't seem like he's run any numbers here...
The full interview (about Midnight Sky): https://www.google.com/amp/s/www.nytimes.com/2020/12/23/movies/george-clooney-midnight-sky.amp.html
Clooney's correct. To an extent. Certain genre's are more conducive to large crowds. But as it's been opined here, while theaters won't go extinct per se, the number of screens will shrink precipitously along with the number of content hours. At some point, the industry will reach a new balance where certain types of films are released in theaters, either solely or, like WW 1984, concurrently with the streamers.
As to WW1984 itself, its financials will need a few more weeks. Screenplay wise, my assumption is that the original had a bunch of "script doctors" too but that Patty Jenkins was given a lot more leeway until the reshoot/VFX.
As to WW1984 itself, its financials will need a few more weeks. Screenplay wise, my assumption is that the original had a bunch of "script doctors" too but that Patty Jenkins was given a lot more leeway until the reshoot/VFX.