Selling LA's Laemmle Theatres Could Mean Specialty Market Disruption: 6 Possible Buyers
Candidates include Amazon, Netflix, and Landmark, and a new owner's priorities could impact the future of specialty distribution.
Tom Brueggemann
The Laemmle Theatres still take newspaper ads, which proclaim its slogan: "Not
Afraid of Subtitles." A family-owned theater circuit that operates 42 screens in nine
Los Angeles locations, it's maintained a commitment to specialized film for decades.
However, sources confirm that the circuit is now for sale, and potential buyers have
been quietly examining its financials for some time. (A Laemmle representative did not
respond to a request for comment.)
A Laemmle sale would be meaningful on the basis of history alone; the company was
founded in 1938 by Max and Kurt Laemmle, cousins of Universal Studios founder Carl
Laemmle. Their theaters remain a mainstay of specialized exhibition in Los Angeles,
where they provide the top platform for foreign-language films and for awards-
qualifying documentary engagements year round. They're also a major source of
revenue for smaller distributors. If a company without the same programming interests
acquired the Laemmle chain, it could have tremendous impact on the specialized
exhibition ecosystem.
Industry sources point to a handful of potential suitors, none of which include the three
major national circuits (AMC, Regal, Cinemark). These include the Los Angeles-based
Landmark Theatres, the leading national specialized chain; Ventura, Calif.-based
Regency Theaters, with theaters in four states; New York-based City Cinemas;
streaming giants Netflix and Amazon; and Mexico-based luxury chain Cinepolis.
But who will buy? Specialized theater grosses face decline, the market for subtitled
films is particularly challenged, and these theaters face competition from larger chains
that play top films like "The Farewell." Sources say that Laemmle owns most of its
locations, and would prefer selling to a single buyer.
IndieWire spoke with multiple sources in exhibition and distribution to create a
portrait of who might buy the Laemmle chain, and why (or, as is often the case, why
not).
Landmark Theatres
The dominant player in North America, it's the go-to suitor whenever any specialized
theater comes up for sale. Most recently, however, Landmark was for sale itself: Last
December, New York real estate mogul Charles Cohen bought its 56 theaters, which
contain 268 screens in 27 markets. That may leave little appetite for another
acquisition, particularly since Landmark already works closely with the distributors
that service Laemmle.
The Royal is to Los Angeles what the Lincoln Plaza Theater was for New York, but it
isn't really competition for The Landmark in West Los Angeles, which is Landmark's
centerpiece LA theater. That prime theater rarely shows subtitled films — but Cohen
also owns Cohen Media, which primarily acquires foreign-language titles. Cohen's
first-run films usually open at the Royal; if Cohen doesn't buy it, who would? There's
no guarantee that a future owner would maintain the same policy, or even keep the
property as a theater.
Reading Cinemas
This New York-based exhibitor operates theaters in several countries under multiple
brands. In North America, this includes City Cinemas (a chain that includes the Paris,
which is expected to close soon ) and Angelika Film Centers in New York, as well as
several studio-release multiplexes under the Reading brand, primarily in California.
For a growing and dynamic chain, Laemmle could seem like a good opportunity to
expand. Reading already has expertise and contacts for both specialized and
mainstream films, it's familiar with platform runs of subtitled films, and it understands
the niceties of operating high-profile locations under the industry microscope.
Like Landmark, though, it's questionable whether the strategic benefit would justify
the expense and risk.
Netflix
Just as when Landmark was for sale, the Netflix name has come up multiple times as a
potential Laemmle buyer. Forging a theatrical presence is critical for the handful of
Netflix films that seek awards consideration, and there's a lot of value in a base of
established, upscale-audience theaters that count many Academy members as regular
patrons. Also, as a company with an elevated presence in documentaries, Netflix
theaters could offer filmmakers a guaranteed presence in a key market.
That said: If Netflix wanted to accomplish this without the bother of purchasing
theaters, it could be a silent partner for another buyer. Banks would welcome the
financing guarantee of Netflix making a multi-year commitment to rent screens at
multiple theaters.
Netflix has had a national deal with the 16-location luxury theater chain IPIC, which
filed for chapter 11 bankruptcy this week. That may make finding another option more
appealing.
Amazon
Amazon Studios has a distribution arm that's seen several theatrical successes (and
failures), but it seems to be transitioning to a business model that allows faster
streaming availability for some films. While Amazon and Netflix share many business
concerns, some observers believe that Amazon might have greater interest in buying a
nationwide circuit that could also house Amazon Hubs.
Cinepolis
The Mexico-based international exhibition giant has 26 theaters in seven states, with
several in California. Well financed and primed to expand, it specializes in luxury,
amenity-laden theaters in upscale areas. It just acquired the two-city, five-theater Texas
circuit Moviehouse & Eatery, and Laemmle locations could serve as a starting point
for transitions into the Cinepolis model. However, that vision would almost certainly
exclude Laemmle's traditional specialized programming. It would also face some stiff
competition from Arclight.
Regency
Perhaps the best fit could be this chain with about 165 screens in 29 locations, mostly
in Southern California. The circuit is a hodgepdge of acquisitions that include
Westwood's Village and the Bruin (currently featured in "Once Upon a Time in
Hollywood") as well as a number of mid-sized complexes in upscale and/or older-
audience areas similar to Laemmle's. These offer a mix of programming, with
specialized at some locations. The company's film buyers include veterans with an
interest in independent film.
Acquiring Laemmle would give Regency greater local and national prominence. This
could be the one buyer with the most to gain while maintaining Laemmle's role as a
specialized exhibitor.
Netflix signs lease agreement to keep New York's Paris Theatre open (https://www.latimes.com/entertainment-arts/business/story/2019-11-25/netflix-signs-lease-agreement-to-keep-new-yorks-paris-theatre-open)
Netflix on Monday said it signed a lease to keep open New York's Paris Theatre, one of the oldest art houses in the nation.
The financial terms of the lease were not disclosed. Netflix said it will use the Paris for special events, screenings and theatrical releases of its films.
"After 71 years, the Paris Theatre has an enduring legacy, and remains the destination for a one-of-a kind moviegoing experience," Ted Sarandos, Netflix's chief content officer, wrote in a statement. "We are incredibly proud to preserve this historic New York institution so it can continue to be a cinematic home for film lovers."
The deal comes as Netflix and large theater chains like AMC Theatres have been unable to reach an agreement on the length of time Netflix original films can be shown before appearing on the service. Netflix shows movies in cinemas at the same time or shortly before they are streamed in the home, a practice that many theater chains say undermines their business.
One potential solution for Netflix is to lease or buy its own theater chains. That would allow the Los Gatos-based streaming company to screen its own films, while also endearing itself to filmmakers. Netflix has been in talks to buy the Egyptian Theatre on Hollywood Boulevard. Showing movies on the big screen also makes them eligible for awards considerations.
Sarandos recently told the L.A. Times that Netflix's increasing number of original movies adds value to the service and that the platform's global reach is appealing to filmmakers.
"For less than the cost of the movie ticket, you get a month of Netflix," Sarandos said. "At the end of the day filmmakers want their films to be seen, their work to be out there in the culture and that happens on Netflix better than anywhere in the world."
:bravo: :-D
AMC Theatres Faces Existential Threat From Coronavirus Shutdown: 'I Don't See How They Survive'
"We're witnessing the single greatest disruption of the film industry in American history," said Eric Schiffer, CEO of private equity firm The Patriarch Organization
AMC Theatres, the nation's largest movie theater chain with more than 630 venues in the U.S., faces an existential threat after the coronavirus pandemic forced the company to close all of its theaters in the U.S. and U.K. for the next six to 12 weeks.
The debt-laden exhibitor's stock price has plummeted 83% in the last year, finishing Tuesday's trading session below $3 a share as its market cap has shrunk to just $271 million. All of this raises questions about whether it will still be left standing when the dust of COVID-19 eventually settles.
"I don't see how they survive this," said Eric Schiffer, CEO of private equity firm The Patriarch Organization. And B.Riley FBR analyst Eric Wold on Wednesday downgraded AMC's stock from a buy rating to neutral and cut the price target to $3.50 from $13.
AMC was in a precarious state even before the COVID-19 pandemic, with more than $5 billion in debt at the end of 2019 and losses of $149 million for the year (after recording a $110 million profit in 2018). During the company's most recent fourth quarter conference call, AMC CEO Adam Aron said that he and other top executives had agreed to cut their salaries and bonuses for three years in exchange for stock that would only vest if the share price doubles.
One industry insider told TheWrap that the company's aggressive spending on acquisitions of chains like Carmike and the start of the A-List subscription moviegoing program has put it in a worse short-term position than other national theater chains like Cinemark.
AMC spent millions to build up its A-List service, an alternative to the now-defunct MoviePass that has lured 900,000 subscribers since its June 2018 launch but only turned a profit in the most recent fourth quarter.
In recent years, the company has also gone on an acquisition spree, buying Odeon and UCI Cinemas Holdings along with Carmike Cinemas in 2016, and Nordic Cinema Group in 2017.
For a while, AMC had a financial parachute from Chinese conglomerate Dalian Wanda, which acquired a majority stake in 2012. But in 2018 Wanda scaled down its position in the theater chain as Chinese regulators incentivized companies to cut back on their foreign holdings. AMC then turned to private equity firm Silver Lake, closing a $600 million investment in September 2018.
The coronavirus pandemic has only exacerbated AMC's predicament. Schiffer said this is simply a show of how flawed the theatrical release system is. "We're witnessing the single greatest disruption of the film industry in American history," he said. "It's a horrifying example of how vulnerable the ecosystem has become."
Not only has the spread of the coronavirus led to the closure of AMC and its rivals' theaters, but it threatens to upend studios' theatrical and business model. Studios have delayed productions and pushed release dates, and worse, some have decided to squeeze the theatrical window between an in-theater and video-on-demand home releases on titles like Warner Bros.' "Birds of Prey" and Universal's "Trolls World Tour."
Lightshed media analyst Rich Greenfield told TheWrap that if the "Trolls" on-demand release works, we could see a major change in how the major studios approach theatrical distribution. Debates around changing theatrical windows have been happening in Hollywood for years, but coronavirus has hastened studios' willingness to innovate.
The writing's been on the wall so long in fact that in October AMC entered the home entertainment business, launching a video-on-demand service that will be available to members of its AMC Stubs customer loyalty program.
"If we take a step back and look at the wider picture, there's been a move to streaming, this just escalates it," Schiffer said. "This is catastrophic for the industry, and it will forever change the industry because you're engraining in people new behaviors."
There are many questions that remain unanswerable, including how long the shutdown will last — and how quickly consumers will return to cinemas even if the pandemic subsides. "How many people are going to feel comfortable sitting in a crowded theater still come September?" Schiffer said.
While Wold lowering estimates for the company's revenue through 2021, he told investors that he didn't see any long-term impact to AMC or the the industry from moves like Universals to release "Trolls World Tour" direct to consumers.
"Not only do we view this as a unique and strategic move being taken by Universal to take advantage of the significant marketing dollars that have been spent ahead of those releases and to counter the adverse impacts of 'social distancing' and recently-impacted moviegoing demand, we continue to believe that this is not a strategy that can be financially successful for most big-budget, high-profile titles — and would expect this move (and possibly others) to be very unique to the near-term outlook and not one that would linger into the second half of 2020 or 2021 as the theaters reopen to the public," Wold wrote.
"We will assume that attendance and revenues are essentially eliminated until at least the end of April," he continued. "Although this will create a meaningful strain on AMC's balance sheet in the coming weeks, we believe the company has the ability to preserve necessary cash by reducing variable operating expenses and near-term capital expenditure spending"
The potential long-lasting ripple effects the pandemic could have on Hollywood aside, the nation's largest movie theater chain being forced to lock its doors as its shares inch further and further down does not bode well.
The pandemic is likely to sink domestic grosses for 2020 below $8 billion for the first time since 2000, analysts have said, and perhaps more troubling is that admissions could fall below 1 billion tickets sold for the first time since 1976.
"It's going to be very difficult for them to survive this, they're going to eat through so much of their cash. They're likely hoping for some sort of federal bailout," Schiffer said. "The damage AMC and the motion picture industry has endured has been exacerbated by a banana republic approach to how to fix this... You'll see a lot of people lose their jobs and some companies are likely going to go under."
https://www.thewrap.com/amc-theatres-survive-coronavirus/ (https://www.thewrap.com/amc-theatres-survive-coronavirus/)
James Mangold Says Movie Theaters Are Hurting Themselves with Awful Film Projection
The "Logan" and "Ford v Ferrari" filmmaker says theaters are creating their own damage in the fight against streaming.
Edward Norton made headlines in October 2019 after sharing his belief that movie theaters were doing more damage to the theatrical experience than streaming giants such as Netflix. The bulk of Norton's argument centered on movie theaters offering poor theatrical projection and thus not offering a better alternative to streaming and television, which is an opinion "Logan" and "Ford v Ferrari" director James Mangold doubled down on in a recent interview with Discussing Film. For Mangold, poor projection and lousy theater conditions aren't doing theaters any favors in the fight against streaming.
"The reality of theater projection has gotten so tragically bad in so many cases," Mangold said. "The fight to put your movie in a theater that stinks and someone's eating an enchilada next to you — half the screen is out of focus or too dim. Theatrical has its own problems, which is that if it doesn't make itself a sterling presentation that you cannot approximate at the home then theatrical kills itself without any other delivery method even competing with it. When I talk to theater owners or theater chains, that's the big thing."
Mangold recounted how a "Ford v Ferrari" screening earlier this year in New York City was ruined because of poor projection. The filmmaker was in attendance to participate in a Q&A and watched as "Ford v Ferrari" was screened through a projector that still had a 3D lens attached to it. Mangold noted it was an Academy screening of the film at a major theater in New York City. Two "Ford v Ferrari" screenings that evening were presented through 3D lenses even though the film is not a 3D movie. Mangold said this is a frequent issue at theaters and the reason for it is either "financial or physical laziness to send someone up and put a different lens in the projection system."
"My point really is just that theatrical is a wasteland right now of a lot of shitty delivery of movies to audiences who are paying a premium to see them on a big screen," Mangold said. "That's something that needs to be solved in the future."
When asked whether or not filmmakers should therefore have more involvement with the exhibition process, Mangold answered, "Well, of course, but do I believe they do? No, because the theaters are, like all capitalist endeavors, in a never-ending cycle of running from bankruptcy. They pay people as little as they can. They hire as few people as they can. They serve snacks that cost them 45 cents to manufacture at prices 22 times the cost of creating. They put you in a theater that is as possible as it can be at the minimum amount of expense."
Mangold added, "Once in a while, the main theater chain will renovate and put new equipment in. But if the people running the equipment aren't great, trained, or even give a shit because they're paid so badly then the result is always going to be questionable. It's just that simple. It really doesn't matter what filmmakers say when theater owners are worried about whether they can pay rent next month. More than whether some spoiled filmmaker thinks that their sound is too low or the image brightness isn't high enough. That's not where their heads are."
Agreed. Although I wasn't aware that enchilladas were contributing to the challenges of properly projecting a movie. (Unless it was the projectionist eating it, I suppose.)
Mega-Chain Cineworld Closing Regal Movie Theaters Following 'No Time to Die' DelayThe company is the largest exhibitor in Britain and the second-largest in North America.
QuoteFollowing the delay of more Hollywood tentpoles — including James Bond film No Time to Die — mega-movie theater chain Cineworld is planning to keep all of its locations in the U.K. and the U.S. closed for the time being, The Sunday Times reported on Saturday.
The British-based company is the largest circuit in the U.K with more than 120 sites, and the second-largest in North America, where it operates roughly 540 locations under the Regal Cinemas banner. A substantial number of these theaters hadn't yet reopened after forced to go dark because of the coronavirus pandemic.
Across Hollywood, the surprise Saturday-night headline prompted immediate concern that AMC Theatres and Cinemark Theates could soon follow suit. The movie business had hoped the box office could recover in earnest this fall, but such isn't the case in many major markets.
Source (https://www.hollywoodreporter.com/news/cineworld-closing-theater-venues-following-no-time-to-die-delay)
Regal is my town's chain, so this has such a stunning finality to it. To think of not only the multiplexes here, but all over the world shuttering their doors is haunting.
Arclight Cinemas, Pacific Theatres Will Close Permanently - Variety (https://variety.com/2021/film/news/arclight-cinemas-pacific-theatres-covid-1234949832/)
Rest well, former employer ~
You brought many a merry memory.
And to some, a public celeb spotting, to boot.
Crossing my finger some other landlord buys the Cinerama Dome and keeps it a cinema
That's AWFUL news. Was telling eward we saw Mad, Mad World there--during it's first week of being open! Saw first-run ET, Close Encounters, Apocalypse there. The Master, opening weekend. The last time I was there was literally for QT's drunken warm-up for OUATIH...
I was so looking forward to finally going :(
https://twitter.com/ripleytenenbaum/status/1381788407614017536
I doubt PTA has anywhere near the fortune QT has amassed for himself.
Is it time to set up a GoFundMe?
https://www.gofundme.com/f/savethearclight?member=10024614&utm_campaign=p_cp+share-sheet&utm_medium=copy_link_all&utm_source=customer
https://twitter.com/VinnieMancuso1/status/1382021536350101507
CLINGING, I tell you!
Sign the petition!
https://www.change.org/p/arclight-save-the-dome
I found this a fascinating listen during this morning's walk.
99% Invisible - Episode 435 - "The Megaplex!" (https://99percentinvisible.org/episode/the-megaplex/)
Back in the early 1990s, movie theaters weren't that great. The auditoriums were cramped and narrow, and the screen was dim. But in 1995, the AMC Grand 24 in Dallas changed everything. It was the very first movie megaplex in the United States. This is the gigantic, neon, big-box store of moviegoing that we're all used to today, and it's easy to dismiss as a tacky '90s invention. But the megaplex—specifically this first megaplex in Dallas—upended the entire theater business and changed the kinds of movies that got made in ways you might not imagine.
It'd be interesting for ArcLight to be "rebranded" without changing its signature operations. ArcLight by AMC or AMC-ArcLight where they still keep a three-trailer limit, introduce the films, and not swap the food/cafe menus.
Wouldn't be as special a venue if it adopts all of AMC's trailer practices and typical lobby atmosphere, though.
AMC Theatres Looking to Buy Closed ArcLight and Pacific Theatres Venues (https://www.slashfilm.com/amc-arclight/)
QuoteThe pandemic has taken a toll on movie theaters. Earlier this year, it was announced that the Los Angeles ArcLight Cinemas and Pacific Theatres would be closing for good, including the famous Hollywood Arclight multiplex on Sunset Boulevard and its iconic Cinerama Dome. The news upset cinephiles, and now here’s some more news that might not sit so well. AMC Theatres is in the midst of talks to acquire ArcLight Cinemas and Pacific Theatres venues.
AMC is the biggest theater chain in both the world and the United States, but that doesn’t mean they’re the best theater chain around. In fact, many AMC locations are, to put it bluntly, dumps. So the news that AMC is looking into buying the shuttered ArcLight and Pacific venues is bound to upset folks who cherish those institutions and don’t want AMC anywhere near them.
The Wrap reports that AMC “plans to raise $230.5 million for key acquisitions in the movie theater sector — and confirmed talks to acquire venues operated by the now-shuttered ArcLight Cinemas and Pacific Theatres.”
“Given our scale, experience and commitment to innovation and excellence, AMC is being presented with highly attractive theatre acquisition opportunities,” said AMC Entertainment CEO Adam Aron. “We are in discussions, for example, with multiple landlords of superb theatres formerly operated by ArcLight Cinemas and Pacific Theatres.”
The announcement that the ArcLight Cinemas and Pacific Theatres came in April, with their parent company Decurion stating:
“This was not the outcome anyone wanted, but despite a huge effort that exhausted all potential options, the company does not have a viable way forward. To all the Pacific and ArcLight employees who have devoted their professional lives to making our theaters the very best places in the world to see movies: we are grateful for your service and your dedication to our customers. To our guests and members of the film industry who have made going to the movies such a magical experience over the years: our deepest thanks. It has been an honor and a pleasure to serve you.”
AMC plans to raise the $230.5 million via a sale of 8.5 million shares to Mudrick Capital Management. AMC raised $100 million from Mudrick in December as part of a “debt offering for needed capital” while most of its theaters remained closed.
As a kind of historical artifact, here is an (edited) list of instructions for the almost-post-pandemic screening of MAGNOLIA this weekend at the historic Million Dollar Theater in downtown L.A. (Sid Grauman's first theater).
Quote2)PLEASE BRING & WEAR YOUR MASKS AT ALMOST ALL TIMES. We ask that everyone makes sure you have your mask of choice and are wearing it before we can let you into theater. You will be able to take the mask off to eat/drink your concessions once you're seated. But other than that, masks must be worn at all times indoors.
4)IF YOU'RE FULLY VACCINATED, PLEASE BRING A COPY/PHONE PHOTO OF VACCINATION CARD & PHOTO ID! IT REALLY HELPS SEATING FOR EVERYONE.
Now that we're in yellow tier, we can actually seat vaccinated folks closer together.
Please don't worry if you haven't yet gotten vaccinated (just wear your mask at all times). We have specially distanced rows for your own safety that are AT LEAST 6 feet from any other person.
If you are fully vaccinated, please bring a photo or the QR of your vaccination card on your phone and a photo ID. We'll check both upon your entrance.
Ushers will take you to your seats and these will be your seats for ALL MOVIES that day (if you've bought double or triple feature tickets). Please just bring sweaters/jackets/etc that you can lay across the seats if you decide to go to Grand Central Market during the intermission so we know the seats are taken.
6)INSIDE THE THEATER, PLEASE STICK WITH YOUR "HOUSEHOLD" AND DON'T CROWD CONCESSIONS, RESTROOMS, THE MOVIE STORE. We'll have 6 ft distance floor markers for reference. But as a rule, inside, make sure you only congregate with your "household" (the folks you came with). Keep 6 ft of distance from everyone else. Also, please make sure to maintain this 6 ft distance rule at any place inside the theater where crowding might be natural (concessions, movie store, restrooms).
7)PLEASE HELP OUR THEATER AND STAFF BY WORKING WITH US IF WE ASK YOU TO OBSERVE COVID SAFETY RULES. Our Staff is trained to ask audience to observe the Covid safety rules for everyone's benefit. If you accidentally forget to put back on your mask or maintain 6 ft of distance from another household, one of our staff will kindly ask you to do so. Please help us out by observing the safety rules and know we're only reaching out to make sure these events are safe for everyone.
If we do this, we can wonderful successful events at the Million Dollar Theater across the entire summer as we return to movie theaters!
I'm vaxed but I think that vax card is fucked up
what is the situation in terms of why vaxed people should be afraid of non-vaxed people
Quentin Tarantino Buys L.A.'s Vista Theatre (https://deadline.com/2021/07/quentin-tarantino-vista-theatre-purchase-los-angeles-1234786322/)Quote"I bought the Vista on Sunset," Tarantino said today on Dax Shepard's Armchair Expert podcast. "We'll probably open it up around Christmas time. And again: only film. It won't be a revival house. We'll show new movies that come out where they give us a film print. It's not going to be like the New Beverly. The New Beverly has its own vibe."
[...]
Tarantino said he believes "boutique cinemas" might "thrive in this time," adding, "and I am not talking about the La-Z-Boy, order nachos and margaritas. I actually like the Alamo Drafthouse a lot, but I have a living room. I want to go to the theater."
Wow. :shock:
everyone may already know: the Vista is where they see a movie in True Romance
(https://i.imgur.com/v3p8tLz.jpg)
Regarding the new Vistatino Theatre:
Quote"But it won't be a revival house," Tarantino added. "We'll show new movies that come out, where they give us a film print. We'll show new stuff.
"It's not gonna be like the New Beverly. The New Beverly has its own vibe," said Tarantino. "The Vista is like a crown jewel kind of thing. So it'll be like the best prints. We'll show older films, but they will be like older films that can hold a four-night engagement."
I wonder how that will work? It's just occurred to me that Soggy Bottom could very well play there--if not during it's November 'exclusive' L.A. run (I'm sure QT would like to have it open by late November?)--then certainly later this year or early next year.
How many films strike 35mm prints these days, tho? I suppose 'prestige' films from big name directors?
Quote from: wilberfan on July 06, 2021, 09:36:27 AM
Regarding the new Vistatino Theatre:
Quote“But it won’t be a revival house,” Tarantino added. “We’ll show new movies that come out, where they give us a film print. We’ll show new stuff.
“It’s not gonna be like the New Beverly. The New Beverly has its own vibe,” said Tarantino. “The Vista is like a crown jewel kind of thing. So it’ll be like the best prints. We’ll show older films, but they will be like older films that can hold a four-night engagement.”
I wonder how that will work? It's just occurred to me that Soggy Bottom could very well play there--if not during it's November 'exclusive' L.A. run (I'm sure QT would like to have it open by late November?)--then certainly later this year or early next year.
How many films strike 35mm prints these days, tho? I suppose 'prestige' films from big name directors?
Right. I'd assume there are enough filmmakers between A24/Neon/WB and whoever else (AmazonsMGM?) to fill out at least a pilot-year of programming for the new Vista team. That's my ideal, that next year is basically mapped out so The Vista can get running on pure film stock. Wouldn't it be interesting, too, then, to see which hall whatever film iz playing the Vista gets at the AMCs? You're totally right; like, Soggy Bottom would play hall 6 or 8 in a multiplex. If it gets its own stage tho... o_o
This sort of engagement is kinda exciting. Hell, I mean, if Netflix has helped float contemporary film engagements in LA (the bev w/ war machine, okja, gunpowder milkshake; the egyptian w/ Irishman) I don't see why they wouldn't be interested in a parallel sitch at The Paris in NY.
it's nice and all but still the best theater this year is globular and at fairfax and wilshire
Probably peak sound-and-vision, yeah.
AMC Reaches Deal With Warner Bros for 45 Day Theatrical Window in 2022 (https://www.slashfilm.com/amc-reaches-deal-with-warner-bros-for-45-day-theatrical-window-in-2022/)
QuoteIt's a scary, uncertain time for the entire movie industry, and for theater owners in particular. Covid variants coupled with vaccine hesitance is proving unpredictable for an industry built on bringing people together in enclosed spaces, but it seems that AMC and Warner Bros are banking on 2022 being better.
Variety has the information shared with AMC and its investors on an earnings call that says the massive theater chain (biggest in America) has reached a deal with Warner Bros for their 2022 slate to be released exclusively in theaters for at least 45 days before appearing on HBO Max.
That means the day and date on HBO Max will be gone next year. If you want to see movies like The Batman, Black Adam, The Flash, Aquaman 2, and the next Fantastic Beasts then you're either going to have to go see it in theaters or wait a month and a half to watch it at home.
On the one hand, this is good news for movie lovers who value the theatrical experience. On the other, we're still in a pandemic and, unless a lot of Anti-Vaxx folks change their minds, we could be in a perpetual boom and bust cycle with COVID-19, so who knows what the hell the future looks like.
But Warner Bros is banking on 2022 being better. On top of this new deal with AMC, they recently entered another one with Cineworld, which owns all the Regal Cinemas, for the same 45-day window.
Has Theater-Going Been Permanently Changed by the Pandemic?
That's the $64,000 question. My feeling is that the convenience of seeing a major new release at home on a service you already subscribe to outweighs the "effort" it takes to wait a month and a half or go see it in a theater. 45 days is a long time, especially for those who want to be a part of the discourse.
Maybe that doesn't affect non-event movies, but for stuff like The Batman and Aquaman? Yeah, it won't be as easy as deciding to load up The Suicide Squad instead of paying the extra money to see it big and loud at a theater.
What does this mean for the future of HBO Max? Surely that'll see a dip in subscribers with its biggest drawing point, day and date big event movies, taken away. However, Warners must think the theatrical window means big money, or else they wouldn't be making this move.
Also of note, that earnings call revealed AMC's plans to institute Apple Pay, Google Pay, and even the ability to accept Bitcoin for tickets and concessions in 2022 as well.
Now if they'd just make sure all their screens, not just their premium Dolby and IMAX screens, were bright and loud then they'd truly have a good leg up in the fight to pry audiences off their couches.
AMC Theatres to Accept Bitcoin as Payment by End of 2021 (https://www.thewrap.com/amc-to-accept-bitcoin-payment/)
Is Moviegoing Undemocratic? (https://www.nytimes.com/2021/10/06/movies/memoria-release-moviegoing.html)
The plan to distribute the art-house film "Memoria" in one theater at a time has set off a heated debate over whether the idea is elitist or inspired.
A.O. Scott
I saw "Memoria" during the New York Film Festival, projected on a screen in a room somewhere other than my house. It's a strange, captivating movie, graceful and elusive, with a distinctive pedigree. Starring Tilda Swinton and directed by Apichatpong Weerasethakul, who is from Thailand, "Memoria" was shot in Colombia and will be that country's official selection for the Academy Awards. At once emotionally resonant and tricky to describe, it's the kind of challenging movie that critics embrace in the hope that it might find an audience beyond the festival circuit.
It will have that chance, though not in the usual way. On Tuesday, Neon — the art-house distributor that brought the Cannes prizewinners "Parasite" and "Titane" to North American moviegoers — announced plans to release "Memoria" later this year. As first reported in IndieWire, Neon will open the film in New York in December, after which it will move "from city to city, theater to theater, week by week, playing in front of only one solitary audience at any given time." No itinerary has yet been released, but one place you will not be able to see Weerasethakul's movie is in your living room. According to IndieWire, "it will not become available on DVD, on demand, or streaming platforms."
Never? I suspect there will be a Criterion Blu-ray one of these days. In the meantime, Neon's news caused a predictable kerfuffle on film Twitter, whose denizens like nothing better than a heated argument about a movie very few people have seen. The set-to in this case was between those who applauded the "Memoria" strategy as a defense of the aesthetic superiority of going to the movies and those who scorned it as elitist and exclusionary.
Here we go again. In general, I take a noncombatant position in the streaming wars. I'm in favor of people seeing movies in the best possible conditions, and I'm aware that sometimes those conditions will be fulfilled on the home screen. If you can't make it to the cinema, the cinema can come to you. Clear sound, full screen — can't lose.
I also think that the terms of the streaming vs. theater debate are misguided. How is it that a quintessentially democratic cultural activity — buying a ticket and some popcorn and finding a seat in the dark — has been reclassified as a snobbish, specialized fetish? The answer, I think, is a form of pseudo-populist techno-triumphalism that takes what seems to be the easiest mode of consumption as, by definition, the most progressive. Loyalty to older ways of doing things looks at best quaint, at worst reactionary and in any case irrational. Why wouldn't you put your movie out there where everyone could see it?
Everyone, that is, who subscribes to a given streaming platform or pays retail for video on demand. Netflix is not a public utility. Furthermore, the universal accessibility that is part of the ideology of streaming looks in practice more like a kind of invisibility. If you can watch a given movie whenever you want, you never have to watch it at all. Or you can pause after a few minutes, check out something else and maybe come back the next night. A partially read book can shame you from the night stand, but an unstreamed movie drifts alone in the ether.
That is the fate "Memoria" is resisting. As an object and an experience, it resists the rhythms of home viewing to begin with. Swinton's character, an expatriate named Jessica, seems literally lost in space and time, experiencing the world in a way that alienates her from other people and her own consciousness. She hears noises inaudible to anyone else and finds companions who may not exist. We don't know if the explanation is psychological or supernatural, or whether Weerasethakul is dabbling in science fiction, metaphysics or some of each. What we do know is that the streets of Bogotá and the lush slopes of the Andes look beautiful in 35 millimeter, and that the sounds and images cast a delicate spell.
The magic may require a theatrical setting. Abstract, slow-moving films that aren't propelled by dialogue or plot don't lend themselves naturally to couch-bound, distraction-prone viewing. Weird movies are best seen in the company of strangers. Did you see what I saw? What was it, anyway? The algorithm won't help you.
"Memoria" is hardly alone in demanding a different kind of attention, and it's unlikely that the week-by-week, one-theater-at-a-time release strategy will become a widespread business model. But there is something beautiful, even utopian in the idea that another way of looking is possible, that habits can be broken. That we might have to go find movies out in the world, where they are looking for us.
Netflix bought the Egyptian Theater last year, and is renovating it (which is wonderful news). For my fellow Angelenos, here is a recent photo of the inside.
There are also shots at the bottom of this link on the history of the theatre. (Scroll all the way down for the most recent shots.)
https://losangelestheatres.blogspot.com/2017/02/egyptian-auditorium.html
Balcony GONE!
This place iz off-putting - it has the aesthetic of a posh hotel meets furniture-store cafe. Anthology and Spectacle, even the Quad, deserve the appraisal this house got. I wonder if the goss' will ever come out.
https://twitter.com/diaz_devan/status/1499535777449103363
Mooky Greidinger, the CEO of Cineworld Group Plc, talks to Bloomberg (https://www.bloomberg.com/news/newsletters/2022-05-08/-doctor-strange-and-the-new-rules-of-the-movie-business)
QuoteWhat was the pandemic's effect on the size of your business? Can it ever get back to what it was?
The slate of movies was not continuous. You have a movie like 'Black Widow' or 'Shang Chi,' and then for 3 weeks have no other significant release. You can't run a business like that; you need a flow of product. People who love to go to the movies expect two or three new ones every week.
Um, for real? Those expectations seem a bit high. At that rate, you can't expect them all to be good, right?
QuoteDoes this new shorter window increase the odds of a deal with Netflix?
No. We are open to show any movie given to us. If Netflix will decide to change their policy, we'll be very happy to get into negotiations with them and show their movies.
What is their policy?
Netflix had their policy that was a very short window for bigger movies. I'm not an expert in Netflix's business, but I think that a longer window would be beneficial. It would create a much better exposure to their movies before they are on streaming. And will create for us additional product.
QuoteBut studios have shifted some genres away. When is the last time a comedy did really well in theaters?
There were no comedies produced because of Covid. Trust me, the minute you will have a good comedy, it will go into cinemas.
:ponder: lol
QuoteYou mentioned 'Avatar' earlier. It is the highest-grossing movie of all time, but do people still care about that movie after all these years? What are your expectations?
The original 'Avatar' will become the second biggest movie of all time after the 'Avatar 2' release.
Landmark Pico To Close At Month's End In Huge Blow To Los Angeles Arthouse Scene
Deadline
With the Hollywood Arclight already closed, now comes another blow to Los Angeles' specialty cinema scene: The 12-screen Landmark Pico is closing at month's end after 15 years, the chain said today.
Landmark Theatres' flagship venue, which has been a destination for countless Academy screenings since 2007 in addition to Deadline's Screening Series over the years, will be shuttered when its lease expires May 31.
"For months, we've worked to extend our tenancy of the Landmark Pico but have been unable reach terms," Landmark Theatres' President Kevin Holloway said in a statement. "We're exploring opportunities to expand our Los Angeles footprint, which we hope to be able to share more on soon."
The timing of today's news is particularly unfortunate as specialty cinema has begun a comeback, with A24's Everything Everywhere All at Once putting arthouses back on the rails after a long pandemic-burdened dry spell. The Michelle Yeon-fronted pic opened March 25 to more than $500,000 from 10 screens in L.A., New York and San Francisco for a hefty $50,965 per-screen average. It is racing toward a $50 million haul, with $42.7 million through Sunday and counting.
The Pico's pending closure also will hurt the box office for upcoming adult-driven limited-release titles like Downton Abbey: A New Era, which will lose a key L.A.-area venue.
"We send our deepest appreciation to the Pico staff, guests and the filmmaking community for their support over the years," Holloway added.
Deadline spoke to some specialty distributors who said that they hadn't been wowed by grosses out of the Landmark Pico since theaters reopened. The venue went from being a mall with foot traffic way-pre-pandemic to an empty office building. Couple that with an older-skewing audience that was hesitant to return during Covid, and the Pico just didn't keep up with the clip that other theaters were rebounding in Los Angeles.
What happens now? Sources say the AMC Century City and the AMC Grove as well as Laemmle theaters now will be the prime destinations for prolific arthouse fare.
The Landmark Pico at the former Westside Pavilion on Pico Boulevard near Westwood Avenue also boasts upscale amenities and caters to special events, with technology features including a video simulcast system for broadcasting overflow screenings, presentations and Q&As.
It is part of the chain that was acquired in 2018 by the Cohen Media Group's Charles S. Cohen. Landmark Theaters operates nearly three dozen theaters with 195 screens, including recent acquisitions in the Chicago area and Annapolis, MD.
Landmark continues to run L.A.'s historic Nuart Theatre on Santa Monica Boulevard near the 405. That 1929 venue, which Landmark has operated since 1974, is undergoing a major renovation that began in March.
Netflix reportedly plans to keep some movies in theaters for longer before streaming, including its upcoming 'Knives Out' sequel (https://www.businessinsider.com/netflix-knives-out-2-in-theaters-for-45-days-report-2022-5)
QuoteBloomberg's Lucas Shaw reported on Sunday that Netflix is considering releasing some movies in theaters this year with an exclusive theatrical window of 45 days. That's longer than the window Netflix has typically given the movies it releases in theaters, and more in line with what is emerging as a new windowing standard.
Two of the movies in consideration, according to Bloomberg, are the "Knives Out" sequel and director Alejandro González Iñárritu's "Bardo."
Netflix declined to comment on the Bloomberg report when requested by Insider.
Quote from: WorldForgot on May 17, 2022, 04:11:43 PMNetflix reportedly plans to keep some movies in theaters for longer before streaming, including its upcoming 'Knives Out' sequel (https://www.businessinsider.com/netflix-knives-out-2-in-theaters-for-45-days-report-2022-5)
QuoteBloomberg's Lucas Shaw reported on Sunday that Netflix is considering releasing some movies in theaters this year with an exclusive theatrical window of 45 days. That's longer than the window Netflix has typically given the movies it releases in theaters, and more in line with what is emerging as a new windowing standard.
Two of the movies in consideration, according to Bloomberg, are the "Knives Out" sequel and director Alejandro González Iñárritu's "Bardo."
Netflix declined to comment on the Bloomberg report when requested by Insider.
Have Netflix finally realised that the old Hollywood studio model of releasing a movie in theatres first and then only later releasing it to home entertainment is actually potentially more profitable than just dumping it straight to streaming without any fanfare and then watching lots of your subscribers leave because they've learned to value your content as little as you appear to do? For a bunch of super brain geniuses, these silicon valley guys seem to miss the blindingly obvious quite often when they engage in 'disruptive' business practices.
Cinerama Dome Returning With New Name - Variety (https://variety.com/2022/film/news/cinerama-hollywood-liquor-license-1235306558/)QuoteThe application does not disclose the news that fans most want to know — that is, when the theater will reopen. But it does include schematics showing that the company plans to reopen the Dome as well as all 14 screens of the former ArcLight Hollywood. The facility has been dormant since the pandemic began more than two years ago.
Can't say I'm excited that it's leaning so much on the restaurant portion, but from a business model perspective it's probably wise considering the LA clientele.
Tarantino'z THE VISTA THEATER has filed for an alcohol license (https://la.eater.com/2022/6/24/23177365/am-intel-morning-briefing-restaurant-news-los-angeles-quentin-tarantino-vista-alcohol-license)as of 28th of June '22.
(https://i.ibb.co/ZNqnc7P/Vista-Theatre-29-6-22.png)
Flipping Quentin's Vista (https://www.cineluxe.com/flipping-quentins-vista/)
EXCLUSIVE | Legendary filmmaker Quentin Tarantino and private-cinema maestro Theo Kalomirakis join up to transform a neighborhood hangout into an international film-lover's destination
by Michael Gaughn
July 29, 2022
Building a movie theater on the dirt lot where D.W. Griffith shot the massive Walls of Babylon sets for his once revered now reviled silent-movie epic Intolerance is kind of like building on an old Indian burial ground. And yet that's where LA's Vista Theatre rests, and it's hard not to sense the presence of silent movies past—and of a whole alternative, and slightly unsavory, history of Hollywood—emanating from it like a wraith.
The Vista has been through a lot. Originally christened the Lou Bard Playhouse and offering both live performances and movies, its premiere screening in 1923 featured the biggest child star of the day, the now forgotten Baby Peggy. Assuming its current name
c. 1930, the theater became something of a changeling, for a while showing first-run films, then second-run, foreign, and classic, during the '60s dabbling in some very adult burlesque, and, for an extended stretch, soft then hardcore porn.
After a brief stint as a revival house, the Vista transitioned back to first-run in the mid '80s, but thanks to midnight screenings, a steady flow of special events and premieres, cameos in films like True Romance and The Swinger, and the lingering reputation of its shapeshifter past, it's become a magnet for independent, cult, and B movies and other manifestations of alt. The sidewalk beneath its marquee is pitted with celebrity handprints à la Grauman's Chinese. You won't find any Cary Grants or Steve McQueens there, though, but Bud Cort, Kenneth Anger, Ray Harryhausen, and the cast of Dark Shadows instead.
So it's not hard to see why the Vista might catch Quentin Tarantino's eye. A patron for years, Tarantino came to resonate so strongly with the theater's vibe that he decided to snatch it up, freshen it up a bit, and see if he couldn't turn it into a must-see destination for rabid film nerds like himself.
His affection for the Vista seems to spring as much from what it's not as from what it is. It's not an opulent movie palace like Disney's flagship El Capitan 11 miles [actually only 3 -- wilbz] down the road but a kind of mini palace with a neighborhood-hangout feel. And it's not located in the heart of Hollywood, like the El Capitan, Grauman's, Pantages, or Cinerama Dome, but in a nebulous no-man's land tucked between Los Feliz, Silver Lake, and, just down Sunset Blvd., Little Armenia. It might be wry but not wrong to think of the Vista as the brick & mortar equivalent of the defiant outsider, the unbowed survivor.
It's a little harder to understand the theater's attraction for designer Theo Kalomirakis, whose reputation rests largely on bringing exuberant flair, tempered by tasteful restraint, to creating private cinemas, a category of design that too easily and often descends into excess and kitsch in the hands of others. But much of the Vista, from its iron-maiden-like box office to its well-intended stabs at hieroglyphics to its looming Nile-Delta-by-way-of-Topeka pharaohs, is pretty much an altar to kitsch.
It's not like Kalomirakis even knew the Vista existed before he took on the assignment of translating Tarantino's wishes into a satisfying reality. His involvement is due mainly to some deft but determined bird-dogging by the previous owner, Lance Alspaugh, who's been retained to manage the theater and shepherd the renovation. A devotee of Kalomirakis' work, Alspaugh slipped a copy of Private Theaters, the sumptuous coffeetable-book presentation of the designer's early efforts, in front of Tarantino at a planning meeting.
As Tarantino flipped through the book, Alspaugh started making the case for retaining Kalomirakis but quickly realized he could save his breath. It was clear from Tarantino's expression he was hooked. "We don't really need to talk about this anymore," he said. "This is obviously the guy."
Kalomirakis politely declined the first time Alspaugh called—and the second, and the third. Content with the life he's carved out for himself since moving back to Greece, Kalomirakis was taking on few new projects; plus, his experience with commercial theaters is limited. But, adopting the same tactics he deployed to convince famed designer Joseph Musil, who had renovated the El Capitan, to flip Coronado's Village theater, Alspaugh quietly persisted, with his gentle persuasion eventually winning Kalomirakis over.
The Theo/Quentin honeymoon proved short-lived, though. Having been told the plan was to leave the Vista's auditorium pretty much as is, Kalomirakis assumed his mandate was to do the rest of the theater in the same Egyptian Deco style. And although Tarantino liked Kalomirakis' initial design, he ultimately deemed it too elegant, coming back with suggestions for faux cinderblock walls and an outsized RC Cola
It wasn't until Kalomirakis heard about the decidedly casual grunge-ish look planned for the coffeeshop and gaming arcade that will occupy the storefronts to either side of the Vista that he got where Tarantino's trying to go. Not wanting the theater to feel so exclusive that anyone hesitates to enter, Tarantino instead wants to create an everyman's retreat that evokes his own early experiences of going to the movies.
That realization was a revelation for Kalomirakis. The common bond between him and Tarantino, it turns out, is exactly that intense love, born in childhood, for the whole experience of watching movies—a shared origin story that runs so deep it's been the inspiration, and constant source of sustenance, for both of their careers. Seeing that Tarantino was more interested in staying true to his emotional roots than to the bones of the Vista gave Kalomirakis a new and more potent source of inspiration to draw on.
Embracing that come-one-come-all, come-as-you-are dynamic, Kalomirakis quickly created a new design that Tarantino just as quickly blessed—which is a good thing since the renovation is already well under way, with the lobby already gutted. Early, likely optimistic, estimates pointed toward a December reopening; early to mid 2023 is looking more realistic.
But there's a whole other layer to this story, one that's been all but lost in all the attention paid to the acquisition and renovation. That Tarantino is having the projection booth rebuilt to accommodate his personal dual-format 35mm/ 70mm projectors isn't too surprising given his well-known preference for film over digital. But what might get the savvy to sit up and take note are his plans to show first-run movies on film, having prints struck even for titles pegged for digital-only release—which is of course damn near everything.
To that end, Tarantino has formed a kind of cabal with other movies-on-film fans like Christopher Nolan, Paul Thomas Anderson, and Judd Apatow, with this formidable band of insiders pooling its resources to get prints made and help put the Vista firmly on the radar of the film-forever crowd. Since probably no one but Tarantino has the necessary sway and determination to pull something like this off, it seems likely the Vista reborn will be—and remain—one of a kind.
It's obvious Tarantino's Vista isn't going to be just some neighborhood haunt or famous filmmaker's vanity project but, in its unassuming way, a mecca, an off-the-beaten-path everyone's-invited celebration of the movies, a unique night out for anyone seeking a new old way to see the latest fare on film.
(Follow link for photos.)
QuoteThe Theo/Quentin honeymoon proved short-lived, though. Having been told the plan was to leave the Vista's auditorium pretty much as is, Kalomirakis assumed his mandate was to do the rest of the theater in the same Egyptian Deco style. And although Tarantino liked Kalomirakis' initial design, he ultimately deemed it too elegant, coming back with suggestions for faux cinderblock walls and an outsized RC Cola dispenser that would overwhelm what Kalomirakis had in mind for the concession stand. (There's even talk of a Mold-a-Rama.
It wasn't until Kalomirakis heard about the decidedly casual grunge-ish look planned for the coffeeshop and gaming arcade that will occupy the storefronts to either side of the Vista that he got where Tarantino's trying to go
Hahah, that's cool! It sounds like the vibe will fit well with the east side/los feliz crowd.
THE CULVER THEATER (https://losangelestheatres.blogspot.com/2022/07/culver-city-12.html)
Los Angeles, the Industry Town, now has a cinema with no projectors, but rather exhibiting its main slate on LED screen walls (https://www.costar.com/article/884404192/streaming-giant-amazon-goes-back-to-the-future-with-its-first-traditional-movie-theater):
"The Culver Theater is the only theater in the United States to showcase an 8K HDR screen, multiple 4K Micro-LED screens and Dolby ATMOS theatrical sound capability in all 6 auditoriums."
Overall it seems that Amazon's remodel kept a lot of the Arclight atmosphere, yet "sleek"d it up a bit. Which, to me, read Corporate, but hopefully will allow Arclight to reposition itself as a "destination" cinema different from AMC/Cinemark's experience.
Thanks for the post. I wish it was a little closer, I'd be very curious to check it out in person (which I may have to do anyway, distant or not).
Wonder how the Netflix restoration of the Egyptian is coming along? Actually, now that I think of it, Bill Counter (a buddy) has done some good reporting on that as well: https://losangelestheatres.blogspot.com/2017/02/egyptian-auditorium-2.html
AMC Theatres Unveils Movie Ticket Prices Based on Seat Locations (https://www.hollywoodreporter.com/business/business-news/amc-theatres-movie-ticket-prices-based-on-seat-locations-1235318716/)
QuoteAMC Theatres is adding sightlines to its cinema experience, along with blockbuster movies.
The mega-exhibitor is following music concerts, sporting events and other entertainment venues in setting its ticket pricing strategy to sightlines for seating selections. AMC patrons attending cinemas after 4 p.m. will be able to pay different prices based on their proximity to the movie screen within the auditorium.
That will put seats in Value Sightline, Standard Sightline, and Preferred Sightline sections. Standard sightline seats will be the most common in auditoriums and available for the traditional cost of a movie ticket.
I wonder how this will affect the already-frustrating blockbuster madness of "opening day" business for things like Oppenheimer and Barbie. Phil Nobile, editor in chief of Fangoria, tweeted that the test theater seating maps-- this program is being piloted with current box office, Magic Mike 3 and Avatar 2, right now -- indicate selling out a hall at with this model actually brings less money to the theater than selling out at standard current price.
A24 Buys Off-Broadway's Cherry Lane Theatre (https://www.hollywoodreporter.com/business/business-news/a24-buys-cherry-lane-theatre-1235340385/)
QuoteIndependent film studio A24 has purchased a small Off-Broadway venue, the Cherry Lane Theatre.
The theater, which is located in New York City's West Village, was purchased for just over $10 million, according to a deed filed Friday. Cherry Lane Theatre is the longest continuously running off-Broadway theater in New York and features a 179-seat mainstage and a 60-seat studio theater.
A person with knowledge of the deal told The Hollywood Reporter that A24 plans to keep the space as a venue for live theater.
[...]
Okay so it's not a MOVIE theater -- yet! But imagine if A24 filmmakers can now host hybrid events here?
Imagine if the PAVEMENT: The Musical movie Alex Ross Perry devises can be both LIVE and a film event?