Regal Cinemas hopes to reopen its US locations by March. The chain had to close again in October 2020, as the parent company Cineworld made the difficult decision after the delay No time to die. However, there is hope for the company as it is expected to be operational again in the next few months.
The announcement was recently made on Twitter. Regal Cinemas, the second largest theater chain in the USA, operates more than 500 locations after AMC. But they have been closed for months with few new films available to boost business. Blockbusters like principle and Wonder Woman 1984 couldn’t deliver hits at the level many in Hollywood had hoped for. But Regal stated that they intend to reopen as soon as New York City and Los Angeles clear the way. The company had this to say in a tweet.
“Big films are made for the big screen, and we plan to open our theaters as soon as NYC and LA allow it. We hope to see it by March.”
New York City and Los Angeles are two of the largest cinema markets in the country. For most of 2020, theaters in both cities were closed. Although many movie theaters in the United States and much of the world have resumed business, regulations in these cities have prevented them from returning to the cinema. This has had an impact on both Regal and other chains. According to this statement, the company will resume operations as soon as these locations can be reopened. But it’s really everyone’s guess when that might be. If 2020 has taught us something, the situation can change at any time.
Regal, AMC and other chains have had financial problems over the past year. Even outside of the closed theaters, many big releases have opted to stream or have been bumped by 2021. As a result, the theaters had little to show even if they were allowed to be opened. As such, the 2020 box office took a nosedive when China overtook the US for the first time in history. An improvement is expected this year with the introduction of vaccines. But we are probably still a few months away from seeing real results.
To make matters worse, many of this year’s “big films” will debut in theaters and on HBO Max on the same day. WarnerMedia made the decision to have its entire film simultaneously streamed and in theaters in 2021. The move angered many theater owners as well as A-list talent in the industry. That means at least a percentage of the box office that would otherwise have been available for the theaters is sacrificed to the streaming wars. Anyway, Regal seems hoping that things will change in the near future. You can download the original post from the Regal Twitter Account.
Topics: cinemas, box office