Ongoing financial uncertainty is forcing the Hot Docs Film Festival to temporarily close its flagship Toronto theatre and lay off staff for about three months, the organization said. Canada’s largest documentary film festival said it will shutter the Hot Docs Ted Rogers Cinema starting June 12 as the organization tries to find a path back to profitability.
Cineplex today released its financial results for the three months ended March 31, 2024. Unless otherwise specified, all amounts are in Canadian dollars. The highlights include:
Montreal’s Rodeo FX, known for providing high-end visual effects, post-production, animation, and other creative services, has expanded its offering into color grading by opening a new Baselight grading suite led by new senior colorist, Ana Escorse.
The Blu Digital Group, a provider of media and entertainment digital media services and software, has opened operations in Montreal, Québec. "We are thrilled to establish our presence in Montreal, a strategic move that underscores our commitment to global expansion and our dedication to providing comprehensive media services," said Paulette Pantoja, CEO of Blu Digital Group.
A study from the Network of Independent Canadian Exhibitors says that 60 per cent of independent cinema operators surveyed between December and February operated at a loss at the end of their most recent fiscal year. About two-thirds of the 67 respondents reported that they need increased public funding to remain operational. It was estimated that they would need about $50,000 in extra funding annually for three years to close the immediate gaps they face.
The Colorist Society International has launched a chapter in Canada. Led by Abe Wynen, CSI, senior colorist at Redlab, Toronto, and Eric Whipp, CSI, co-founder and head of Color at Alter Ego, Toronto, the chapter is open to colorists across Canada working in film, television, advertising, and other media.
Cineplex has reported that it incurred a $9 million loss in its fourth quarter, which ended December 31. This compared with a profit of $10.2 million a year earlier.
Landmark Cinemas Canada has announced that it is planning to build a theatre at the Mikhail Centre, Windsor, Ontario's premiere shopping destination in the Fall of 2024.
Canadian exhibitor Cineplex has announced plans to open its latest Playdium location in Toronto, Ontario. Construction of the new Playdium at CF Fairview Mall is scheduled to begin in February, with opening targeted for later this year.
Cineplex Digital Media has signed an agreement with Cadillac Fairview to operate and sell digital and static media, and sponsorships, for its extensive network of highly desirable shopping destinations across Canada.
