Conventional wisdom in the film industry suggests that Millennials or Gen Y, now the world's largest living generation and entering their prime spending years, are generally less interested in moviegoing than previous generations. But in a granular analysis of recent data, Movio's whitepaper, Understanding Millennial Moviegoers: A Data-Driven Playbook, contradicts this widely held assessment.
UniversalCityWalk, Los Angeles' landmark urban entertainment complex that ushered in a generation of similar open-air destinations, is undergoing an elaborate revitalization as the pop cultural mecca embraces change to remain contemporary and fresh. Christie RGB Laser projection, Dolby Atmos immersive surround sound and Christie Vive speakers will be the technology at the heart of the revamped complex.
Volfoni has partnered with Russia’s Nevafilm on a new high-end KinoMax multiplex to be that will be equipped with Volfoni’s 3D system. This partnership is seen as the start of a long cooperation between the three companies.
Over the past decade digital cinema technology has spurred the transformation of movie theatres from the traditional assembly line model – buy your ticket, buy your popcorn and soda, take your seats, watch the movie, and exit – into entertainment centers where people are encouraged to linger and enjoy a variety of activities, enjoy a nice meal and, of course, see a movie. While Santikos Theatres has seen its share of industry firsts its newest venture, opening today, is more than simply a new first. Yes, the Casa Blanca in San Antonio, Texas, is the first all-laser projection movie theatre in the world. But, more than that, it sets a very high standard for what a movie theatre in the 21st century can be.
National Amusements and Ushio have reached an agreement making Ushio the sole provider of Xenon bulbs to all National Amusements theatres worldwide.
Jackie Chan Cinema and Dolby Laboratories today announced that the premium Dolby Cinema experience is coming to the top-grossing movie site in China, Jackie Chan Cinema’s Beijing Wukesong. The cinema site topped China’s box office and attendance rankings from 2011 to 2015. In 2014, it was the only cinema to achieve a box office gross of RMB 100 million in China.
AMC has announced plans to acquire Carmike Cinemas for a reported $737 million in cash. Under the terms of the deal, AMC will offer $30 a share, an increase of 19 percent over Carmike’s closing price on Thursday. AMC would also Carmike’s debt, making the transaction worth about $1.1 billion. If approved, the deal would give AMC more than 600 theatres, making it the largest theatre chain in the country.
Carmike Cinemas today reported results for the three and twelve-month periods ended December 31, 2015 and noted continued growth. “Carmike’s record fourth quarter and 2015 full year financial results reflect the ongoing success of our theatre-level initiatives, the progress we are achieving with our value-building theatre acquisition and organic growth strategies and the overall strength of the U.S. box office. Our admissions revenue growth per screen of over 15 percent in the 2015 fourth quarter and 9 percent for the full year outpaced the industry by almost 500 and 200 basis points, respectively. We achieved record results across several key financial metrics, including a 19 percent rise in operating revenues to an all-time quarterly record, as well as a rise in operating income of over 100 percent, which drove increases in adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) and theatre level cash flow of approximately 61 percent and 51 percent, respectively,” said David Passman, Carmike Cinemas’ president and chief executive officer.
Ymagis Group and Helios today announced an agreement for the deployment of content delivery technologies at Helios multiplexes across Poland. Under the terms of the agreement, the entire Helios cinema circuit (206 screens, 37 sites) is set to be equipped with Ymagis Group’s proprietary electronic receiver equipment before the end of March.
UFO Moviez India has launched a franchise brand called Nova Cinemas under its subsidiary Valuable Digital Screens Private Limited. With this asset light initiative, VDSPL aims to recreate the screen growth in non-metro regions across India. Under Nova Cinemas, VDSPL will encourage local entrepreneurs to own and operate Nova branded theatres in various parts of the country.