Streamland Media, formerly Picture Head Holdings, has entered into an agreement to acquire the Technicolor Post business. This addition builds upon Streamland’s global network of award-winning talent, further solidifying their dedication to the creativity, innovation and collaboration essential in post-production. The acquisition, which is subject to customary closing conditions, is backed by Trive Capital and Five Crowns Capital and is expected to close in the first half of 2021.
Liquid Media Group has appointed Ronald Thomson as its CEO to drive the growth of its evolving business. As president of the global business development firm Cameron Thomson Group, he has been building successful media/entertainment and tech companies for more than two decades from its offices in Toronto, London, Lake Como, Los Angeles and Taipei.
With the end of the COVID-19 pandemic still not in sight, Kinepolis has taken out an additional loan of 80 million euros with its main bankers for a period of three years.
Resiliency is not a new term for the cinema industry. The industry has faced adversity in the past but economically has always survived. Cinemas are no longer just a place to go and watch a movie. They are entertainment destinations catering to increasingly diverse patron expectations.
Reading International has launched Angelika Anywhere, a streaming platform curated for film lovers, as inspired by its Angelika Film Center in New York City, one of North America’s most recognized dedicated arthouse. Since its inception in 1989, the Angelika’s flagship SoHo cinema has been debuting and celebrating groundbreaking independent and international films, many of which have gone on to become important pinnacles of the cinema industry at large.
Strong Technical Services has completed the installation of projection equipment for IPIC Theater’s newest location in Midtown Atlanta at the reimagined Colony Square. Technology installed included an advanced load balanced and fault tolerant network to support projection booth equipment, a streaming content library and a large QSC Q-SYS ecosystem across the entire complex.
In an open letter to the motion picture industry today CMX Cinemas’ chief financial officer Luis Castelazo called upon the studios to recognize the challenges that exhibitors are currently facing and to treat them as the important partners they are. Here is his letter in its entirety:
Showbiz Cinemas has opened a new theatre at the site of its previous location in Waxahachie, Texas. The 66,000 square foot building is now home to Bowling, Movies & More, offering an exciting one-stop destination for all family members. The location features thirteen auditoriums, all with new plush power recliner seating, new 7.1 surround sound systems and wall-to-wall, ceiling-to-floor curved screens.
Qube Cinema and Scrabble Entertainment have brought electronic delivery to movie theatres in the Middle East with the installation of Qube’s WireTAP, a cloud-connected, in-theatre appliance that allows automated delivery of digital cinema packages and key delivery messages directly over the internet.
The global cinema industry is set to lose $32 billion in 2020 due to the COVID-19 pandemic, a 71.5 percent reduction in box office revenue compared to 2019, according to Omdia’s latest Movie Windows: Adapting for the Future report. Box office revenue has dipped below $13 billion for the first time in over two decades, forcing many studios to experiment with other platforms to account for the decline in box office revenues.