Sean Gamble, CEO of the third largest cinema chain in the U.S. with Cinemark, says he’s “very optimistic” that streamers will follow in the footsteps of studios in terms of using theatrical releases.
Speaking during an investor call the other day, Gamble says his company has “high confidence” in the ongoing recovery of content and box office. As studios are leaning more heavily back into theatrical, he says they are understanding the “increasing promotional and financial value” that comes from a cinema release.
More importantly, he says: “not just traditional studios, but streamers will also lean more heavily into theatrical. We are getting signs from them”.
He sees them as being able to fill gaps in theatrical release slates as production lags from COVID “will take a couple of years to get fully back to where it was”. Considering all those out there making movies though, he says: “We could find ourselves with more volume than we ever had.”
Cinemark saw sales jump 50% last quarter, even with a sluggish release schedule. The much-hyped National Cinema Day he saw as something of a waste as there wasn’t enough upcoming product to showcase.
Source: Deadline
