Cineworld Join AMC Theatres on Universal Boycott
Earlier today we told you about AMC Theatres banning all future Universal films following the financial success of Trolls World Tour releasing via VOD services. Well it appears AMC Theatres weren't the only ones to have their feathers ruffled by Universal.
Cineworld have now stepped into the argument and have joined AMC Theatres in boycotting future releases from Universal Pictures. As well as being one the biggest chains here in the UK, Cineworld own Regal's 7,211 screens in 549 theatres in the US. However, whilst Cineworld have said they won't be flat out boycotting Universal films they "will not be showing movies that fail to respect the windows."
You can read the full statement below-
“Cineworld’s policy with respect to the window is clear, well known in the industry and is part of our commercial deal with our movie suppliers. We invest heavily in our cinemas across the globe and this allows the movie studios to provide customers all around the world to watch the movies in the best experience. There is no argument that the big screen is the best way to watch a movie. Universal unilaterally chose to break our understanding and did so at the height of the Covid-19 crisis when our business is closed, more than 35,000 employees are at home and when we do not yet have a clear date for the reopening of our cinemas. Universal’s move is completely inappropriate and certainly has nothing to do with good faith business practice, partnership and transparency."
"Cineworld’s roots go back 90 years in the industry and it was always open to showing any movie as long as the rules were kept and not changed by one sided moves. Today we make it clear again that we will not be showing movies that fail to respect the windows as it does not make any economic sense for us. We have full confidence in the industry’s current business model. No one should forget that the theatrical side of this industry generated an all-time record income of $42 billion last year and the movie distributors’ share of this was about $20 billion.”
With AMC Theatres and Cineworld both sruggling financially at the moment, it's hard to see them sticking to this due to the massive amounts of revanue they would lose. Of course if they do, it could have a massively detrimental effect on cinemas as a whole and cost thousands of people their jobs.
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