Thanks, COVID-19. One of the largest cinema chains in the US and UK is closing all their locations.
The details come via CTV News, which reports that 536 Regal cinemas in the U.S. and 127 Cineworld and Picturehouse venues in the U.Km which will put some 45,000 people out of work for the foreseeable future.
One thing I’d like to point out is that it feels like the industry is reporting that Cineworld has taken this step because No Time To Die has been delayed, and as such there won’t be enough blockbusters playing to keep cinemas operating profitably. What’s actually happening is that there’s a global pandemic happening. People in most places, especially the US right now, shouldn’t be going to the movies.
One can’t help but imagine this will be the first of many such announcements. It is, after all, cheaper for the theatres to close than to operate them at reduced capacity.