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We had to make some very difficult decisions during the quarter, including temporarily closing our movie theatres, restaurants and bars, as well as subsequently temporarily closing our hotels and resorts due to an increase in cancellations and a decrease in occupancy. “Similar to so many businesses across the entertainment and hospitality industries, we faced unprecedented challenges resulting from the COVID-19 pandemic in the first quarter. “March started with a difficult comparison to last year’s top film, Captain Marvel, and then, of course, everything changed when we were required to close our theatres mid-March.”
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“The first quarter was off to a very good start, with revenues and operating income up significantly through February 2020, benefiting from several new films and strong carryover holiday season films,” said Rolando Rodriguez, CEO of Marcus Theatres. The company cited nonrecurring expenses of $2.8 million for payroll continuation for staff impacted by the theatre closures, and impairment charges of about $8.7 million. PREVIOUSLY: Marcus Corp, which owns the nation’s fourth-largest movie chain as well as restaurants, hotels and resorts, swung to a loss last quarter, hit by theater closures and one-time charges.Ī net loss of $19.3 million compared with a $1.8 million profit the year before. He dismissed the brouhaha over Universal launching Trolls World Tour on video-on-demand to a unique situation and said he’s confident studios fully appreciate the financial imperative of a theatrical release. It’s an environment we think can be properly addressed through good social distancing.”Īs other exhibition execs have, he expects to launch with studio library content – and is working closely with studios on that. There is some breathing, but not a more emphasized kind of thing. “And you get in a movie theater and you don’t talk. You can adjust your show schedules,” he said. We can see who goes in the lobby and who doesn’t. We don’t have a thousand people showing up at one time. Movie theaters “are different than concert facilities.
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He said it might be safer at first than other communal activities. Staff will have their temperatures taken daily and wear masks and gloves. Marcus said there will be “a very visible sanitation process” in theaters and between shows, where customers will be sitting every other seat, every other row. 17, is the preferred choice among male moviegoers and leads the list in Marcus Theatres’ other 10 states.AMC Networks Misses Wall Street Targets In Q1 On 11% Ad Revenue Drop 1 in seven states, while the upcoming “Spider-Man: No Way Home,” opening Dec. 1 at the box office this past weekend, is tops among female moviegoers and No. The “Ghostbusters: Afterlife” reboot, No. In terms of which movies are at the top of the list, two dominate. “This isn’t a surprise, especially this year as reconnecting with one another is incredibly important and movies have a way of bringing us together.” 1,” said Rolando Rodriguez, chairman, president and CEO of Marcus Theatres.
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“An overwhelming 97 percent of survey respondents said they intended to visit a movie theater by Jan. For Thanksgiving week, 54 percent of respondents said they plan to see at least one movie with family or friends, while 62 percent said they intend to make such a trek during Christmas week. The good news is that unlike 2020, when the pandemic kept all but a third of these folks out of movie theaters during Thanksgiving and Christmas week, this year trends appear to be headed back in the right direction. Los Angeles (Knewz) - The fourth-largest movie chain in the U.S., Marcus Theatres, polled 2,400 of its rewards program members to find out about their holiday season moviegoing plans.