Coming attraction: Movie theaters reopen in New York, San Fran

Cinemas in both cities return this weekend at 25% capacity

National /
Mar.March 05, 2021 03:52 PM
Theaters in some cities are opening with restrictions. (Getty, Photo Illustration by Alison Bushor for The Real Deal)

Theaters in some cities are opening with restrictions. (Getty, Photo Illustration by Alison Bushor for The Real Deal)

Movie theaters in New York City and San Francisco have been dark for a year now, but that changes this weekend. Both big box-office markets are reopening, with some major restrictions.

Theaters in both cities will be open at 25 percent capacity, adhering to pandemic guidelines for social distancing. That’s still better than Los Angeles; the cinema capital of the country remains dark.

While many theaters around the country are already open, some operators are holding off. Cineworld’s Regal Entertainment Group said it will keep its more than 500 U.S. theaters closed until the studios release their big-budget productions, according to the Wall Street Journal.

Disney seems to be doing just that. It is debuting “Raya and the Last Dragon” in more than 2,000 North American theaters. The company is also streaming the film, making it available to Disney+ subscribers for $30.

Some movies have also pushed up their release date to coincide with the theater openings. The horror movie “A Quiet Place Part II” will now premiere on Memorial Day weekend, instead of its scheduled September opening.

Movie operators have been upended by the pandemic, as lockdowns and Covid restrictions have left them struggling to survive. AMC Entertainment Holdings, which has 600 U.S. theaters, has repeatedly had to fend off bankruptcy. Last month, the company received a $900 million lifeline. Others have not been so fortunate. Alamo Drafthouse Cinemas Holdings filed for bankruptcy Wednesday.

[WSJ] — Sasha Jones






    Related Articles

    arrow_forward_ios
    Cherre CEO L.D. Salmanson (Cherre/Facebook)
    Real estate data firm Cherre raises $50M
    Real estate data firm Cherre raises $50M
    (Tropicana Las Vegas via Facebook, Bally's Corp)
    Bally’s buys Las Vegas’ Tropicana casino for $150M
    Bally’s buys Las Vegas’ Tropicana casino for $150M
    Hammerson CEO Rita-Rose Gagne and Brookfield's Bruce Flatt. (Hammerson, Brookfield, Getty)
    Brookfield’s US malls are struggling. Now it’s buying some in Europe
    Brookfield’s US malls are struggling. Now it’s buying some in Europe
    (iStock)
    Homebuilder sentiment ticks up in April
    Homebuilder sentiment ticks up in April
    Doctors and medical professionals have remained on time with their rent payments in the past year (iStock)
    Medical offices are just what the doctor ordered for landlords
    Medical offices are just what the doctor ordered for landlords
    The rate of loans sent to special servicers continued to fall in March. (Unsplash)
    CMBS special servicing rate declines in March
    CMBS special servicing rate declines in March
    Sao Carlos CFO Fabio Itikawa. (Getty, YouTube via Levante Investimentos)
    In pandemic-battered Brazil, 3G Capital founders hunt for real estate deals
    In pandemic-battered Brazil, 3G Capital founders hunt for real estate deals
    JLL CEO Christian Ulbrich. (Getty)
    JLL explores sale of China property management wing
    JLL explores sale of China property management wing
    arrow_forward_ios

    The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

    Loading...