release its entire 2021 movie slateCinemark fell more than 21%, Imax slid more than 7.3% and the Marcus Corporation fell more than 11%. AMC started out the day with its stock being pummeled after it announced it was selling 200 million shares in a bid to raise $844 million and improve its liquidity. The big Warners news didn’t help the situation. AMC’s stock was down more than 17% on Thursday afternoon.
The exhibition sector has been decimated by the coronavirus pandemic. Cinemas were forced to stay closed for much of the spring and when they attempted to reopen in the summer with the release of “Tenet,” audiences failed to come back in big numbers. The concern is that by making movies such as “” and “Matrix 4” available to HBO Max subscribers at the same time they hit theaters, audiences will continue to steer clear of cinemas, particularly during a public health crisis.
Warner Bros. says the move is a temporary solution to an unorthodox situation. These movies can’t screen in major markets such as New York City and Los Angeles, where cinemas are closed, making a traditional theatrical release potentially ruinous. Other studios have experimented with different distribution plans during the pandemic. Disney moved “Mulan” and “Soul” to its streaming service Disney Plus, while Universal is releasing “The Croods: A New Age” and “News of the World” in theaters for 17 days before debuting them on premium VOD.
TimEdwardsZero4 Theater is dead, and movies haven’t been decent for a long time, so it might even be a good thing in the end.
Yes omg
Wow. Too bad.. Unexpected crippling kick to theaters. Sigh.Long live streaming.
Im so happy! So much cheaper staying home watching block busters!!!
Still have Universal, Paramount, Disney, etc 🤷♂️
This looks cool. However, when will hbomax work with roku ?
EndSARS
It's finally happening. About time. No more awful experiences due to people with low attention spans and bright cell phones. That combo killed the movie going experience.
SamParkerMetal MattyBrown22elf
Good. China owns most American Theaters
Isn't this just logical? The world has a fucking pandemic still because of dumb human behavior. Stay at home and watch movies.
tonetalks It’s over
They got us with their overpriced snacks long enough. They’re done
Theaters are a relic Home setups are getting cheaper and cheaper. Its more convenient, good quality, don't have to overpay for food, and no noisy fools on their phones Pandemic just accelerated the death of theaters. RIP Theaters, IMAX, and ICEE
Vullein This sucks tremendously.
Can the UHD be available the same day? I like owning shit.
This is such a bad move and won’t work for them. They’re going to lose a lot of money.
WARNER BROS. For the first time in years it's doing what the CONSUMER is asking them to do!! Watching movies at home is the best way TO KEEP US SAFE. If you want to risk yourself you also have the choice to watch the movies at the cinema!!
This will revolutionize movie watching like cameras on phones changed photography. Now everyone can have a movie theater in their home with newly released blockbuster movies.
Disney didn't kill theaters. AT&T did.
lmao good
Let's boycott HBO Max.
Movie theaters:
I was today years old when I realized there were theater stocks
axell088
LOL
tonetalks Say what you want but this is the 🌊. Entertainment tech dramatic changes every 10-25 years. Netflix (1997). Redbox (2002). WB is just trying to stay ahead of the curve. This is going to be interesting.
This sucks but this was the best option
We are still excited about dunemovie! It is a shame we will not be able to go to the theater and experience it.
Warner Bros is out of its goddamn mind. In a sense, it's a murder of cinema
Esto es lo que queriamos? Joder que tristeza de verdad😭😭.
Fuck sake
That’s what they get for overpricing snacks
This is so sad.
JesusUsero
Well, after the Pandemic, theatre chains will return to normal.
Theatres better get creative. Cinema is an experience not just watching movies.
Shocker!