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Cineplex convertible
July 20, 2020
3:04 pm
Norman1
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rhvic said
Landmark Cinemas in Saanich, BC (part of Victoria) just announced they are closing permanently. One presumes covid is to blame.

Guess that tells something about investing in cinemas just now...

According to Times Columnist article The end. University Heights cinemas closing permanently, the lease expired in June and there was redevelopment planned for the shopping centre.

Could be the shopping centre found a better use for the site or the rent on renewal was much higher.

August 15, 2020
8:04 am
rhvic
Victoria, BC
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Cineplex just announced a 95% reduction in revenue! (makes one wonder where they still earned the 5%).

Pundits on CTV News are saying that cinemas might recover by the end of 2021, if a vaccine is found. Otherwise, people may just use streaming services at home.

I will certainly not be investing in anything relating to cinemas at this point.

August 16, 2020
8:17 am
Bud
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"Many theaters have already reached capacity under physical-distancing rules" Bnn

October 5, 2020
10:50 am
rhvic
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Yet another reason to avoid cinema related stocks, as this is announced today:

"Regal Cinemas likely to shutter U.S. theaters

The second-largest cinema chain in America is poised to shutter all its 500 U.S. locations after reopening less than two months ago due to pandemic pressures that have forced a cascade of postponements of big-budget films, most recently the new James Bond flick starring Daniel Craig. Ex-U.S. theaters have fared better. Tenet, for example, has grossed ~$244M internationally according to Box Office Mojo. Parent Cineworld (OTCPK:CNNWF, OTC:CNWGY) reported a 70% plunge in H1 revenue to $712.4M."

October 5, 2020
9:10 pm
Bud
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Cultural industry government bail out candidate?

October 5, 2020
9:53 pm
AltaRed
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One doesn't need cinemas to stream content. All the 'bigger' streaming services are generating cultural content. The bigger dilemma for us here is going out to a movie theatre was kind of a nice treat and change from all the streaming stuff, 65 inch flat screens and sound systems notwithstanding. But we'll get over it.

October 6, 2020
10:50 am
Londonguy
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Bud said
Cultural industry government bail out candidate?  

Cineplex is just an exhibitor and doesn't create content, so it adds NADA to Canadian culture. In a digital streaming world they already represented a 21st-century equivalent of the buggywhip industry, and COVID has merely accelerate their demise

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