Cineworld cinemas to file for bankruptcy.

AMKC · 21-08-2022 09:47AM #1

So it seems Cineworld cinema's is going to file for bankruptcy in the US as they have struggled to get customers back into there cinemas. Is it any wonder with the extortionate prices they charge.

I used to go to the one in Dublln all the time but then they went and ruined it with the 3D gimic and by over inflating there prices.

I found better prices and cinemas elsewhere.

So when is the last time you have been to Cineworld wherever you live?

pixelburp · 21-08-2022 02:38PM

Stopped going to Cineworld ages ago; notwithstanding the fact I don't live in Dublin anymore, but when I still did found the "suburban" cinemas much superior prospects.

Chiefly, Cineworld was overpriced and filthy. The screens themselves just minging half the time, even if their screens weren't bad.

Fysh · 21-08-2022 02:54PM

Worth noting that it's not just "not enough customers" - before the pandemic kicked i they were well into a proposed takeover of a chain of North American cinemas; they're now backing out of that but it's costing them something like $1Bn to do so.

I cancelled my Cineworld card when I found out that in the UK they sacked all their staff at no notice immediately on lockdown being announced, rather than waiting for any details of the govt support programme. Between that and how they handled their takeover of the Picturehouse chain in the UK (forcibly changing lineups to minimise any competition between them and largely hobbling the more arthouse-adjacent focus of PH), I have no interest in supporting them as a company.

Their collapse is still a bad thing overall, though - unless someone (ideally not Disney or the like) steps in to buy them out, that's a lot of cinemas closing/jobs lost and towns potentially losing their only local cinema :(

pixelburp · 21-08-2022 02:58PM

There has been a lot of chatter that with Disney owning so many IPs and market share of pop culture, the next step would be to open Disney brand cinemas.

However that's currently illegal in America, with laws preventing studios from owning cinemas, introduced decades ago to promote an open cinematic market for audiences. A mix of free market and ensuring a diverse artistic landscape. Laws that are very actively being hunted by politicians now. Not sure if it ever came to pass, but Disney etc do want to nuke that legislation.

21-08-2022 02:59PM

it could open up stronger local independent cinema ownership too in many places

johnny_ultimate · 21-08-2022 03:24PM

https://www.boards.ie/discussion/comment/119501480#Comment_119501480

We’re already seeing this I think. Ever since cinemas reopened (and re-reopened) after lockdown independent ones had a pretty vibrant slate of films, and could of course fill in gaps with their usual retrospectives, re-releases etc… Whereas chains that are much more reliant on Hollywood struggled for quite a while until they started getting a more steady stream of blockbusters. Even this summer has been quiet blockbuster-wise and we’ve seen big chains struggling programming-wise again.

At the same time, you have the likes of Disney pumping more resources into streaming and denying cinemas some of the mid-tier content that would tide them over between mega-blockbusters. One of the problems of a handful of companies having so much control over film distribution is they also control the fortunes of cinemas who rely on said companies’ films.

To be clear, Cineworld’s problems run far deeper than that - as @Fysh mentioned their acquisition spree and the associated debt seems to be a big, potentially fatal factor in their financial precariousness. But there’s definitely been a bit of a divide in terms of how cinemas have recovered post-lockdown, and while I don’t think the multiplex model is mortally wounded yet (see: Top Gun Maverick, Spider-Man) they’re definitely in a more precarious position than genuinely independent cinemas with a loyal audience (and, as also previously mentioned, a loyal and well-treated workforce doesn’t hurt).

The White Wolf · 21-08-2022 03:47PM

Taking the business side of things away for a moment, I've had plenty of good memories in that cinema on parnell Street.

But that is the way of things I suppose, before it was a cinema it was a ballroom.

AMKC · 21-08-2022 04:22PM

https://www.boards.ie/discussion/comment/119501616#Comment_119501616

Really. I only vaguely remember the Cinema that used to be there before Cineworld and loved it then it and the Imax Cinema closed and Cineworld came along.

gmisk · 21-08-2022 04:24PM

https://www.boards.ie/discussion/2058259712/cineworld-cinemas-to-file-for-bankruptcy

I still go occasionally at weekends.

The seats had a bit of a refurb in a lot of the screens which is good. I go in the AM when tickets are cheaper and screenings are quiet. Loos are shocking.

pixelburp · 21-08-2022 04:35PM

https://www.boards.ie/discussion/comment/119501726#Comment_119501726

IIRC Cineworld used to be Virgin Cinemas, I wanna say early 2000s? Vaguely remember it being that when we went into town from DCU fadó 2000 or thereabouts.

Agent Coulson · 21-08-2022 05:20PM

https://www.boards.ie/discussion/comment/119501773#Comment_119501773

It was indeed a Virgin from about 95 till about '00

The White Wolf · 21-08-2022 05:46PM

https://www.boards.ie/discussion/comment/119501950#Comment_119501950

Aye should of said way back in the day it was a ballroom before it was a cinema.

22-08-2022 08:30AM

Official

BBC News - Cineworld confirms it is considering bankruptcy

https://www.bbc.co.uk/news/business-62629932

Mr Crispy · 22-08-2022 09:04AM

They'll be grand if they can just sell another few bags of Pick'n'Mix.

AMKC · 22-08-2022 09:09AM

If the Dublin one did close which Cinema group would replace it?

I would like to see an Omniplex there or Odeon there or Vue either.

Akrasia · 22-08-2022 09:15AM

https://www.boards.ie/discussion/comment/119504042#Comment_119504042

The one from Inglorious Basterds

HerrKuehn · 22-08-2022 09:22AM

At least part of the issue has to be the complete dearth of movies to see. I love going to the cinema but at the moment about 95% of the movies coming out are silly superhero movies.

errlloyd · 22-08-2022 10:14AM

Years ago I heard that Dublin was comfortably their most profitable Cinema. Ticket prices were higher than their UK average, attendance was higher than their UK average, and film rights were cheaper.

22-08-2022 10:17AM

https://www.boards.ie/discussion/comment/119504024#Comment_119504024

And maybe add in some flavours for popcorn if they're feeling nice

hynesie08 · 22-08-2022 10:18AM

As the first person ever fired from cineworld Dublin 17 years ago, allow me to say ha......

L1011 · 22-08-2022 10:27AM

https://www.boards.ie/discussion/comment/119501726#Comment_119501726

The building was new when it opened as a cinema - there may have been a ballroom in a previous building on the site - but I think much of it was factories.

Originally it was going to be an MGM cinema; but opened as Virgin. IMAX was there as a seperate cinema at the same time. Virgin became UGC; UGC became Cineworld; the IMAX shut and was converted in to extra normal screens.

HerrKuehn · 22-08-2022 10:27AM

Here is the next year's upcoming films in cineworld:

Films in yellow are superhero movies, so 9 out of 17 movies. The red ones are installment >= 4 of a movie series, 4 out of 17 movies. So in total we have 4 movies which are not superhero based and not the 4th or higher installment of a movie. In fact 2 of the others are installment 2, so there are only 2 movies that are original.

ohnonotgmail · 22-08-2022 10:36AM

Is that not just a reflection of the type of films that are making money?

errlloyd · 22-08-2022 10:38AM

To be fair, I don't think we can blame comic franchises for cinema's failing. They make BANK and they're basically cinema spectacles so people love them. My problem with them is that they're so profitable that they actually push out less profitable movies that I would like to watch!

breezy1985 · 22-08-2022 10:49AM

https://www.boards.ie/discussion/comment/119504337#Comment_119504337

In the past everything had to be seen in the cinema. Nobody is going to the cinema to see the 2020s version of Philadelphia or Rainman.

People are only gonna go a cinema like that for big effects blockbusters. The only way a cinema will survive with any other type of movie is to be a high end "wine and cheese" cinema like Curzon or be a full on sing along Rocky Horror, Arnie marathon cinema.

HerrKuehn · 22-08-2022 10:55AM

https://www.boards.ie/discussion/comment/119504450#Comment_119504450

Well you can have big effect blockbusters without them being part of Marvel/DC. I don't know, I understand the movies are making money, but they have pushed any other type of movie out. That would be the reason why I (and I presume others) have no interest in the crap that is being pushed out. There is of course a place for them but do we really need half of movies released to cinema to be of this type? I would also say it is short term thinking as eventually people will get fed up with these AI generated scripts. There are only so many side character origin stories etc that even the easiest entertained will watch.

breezy1985 · 22-08-2022 10:58AM

https://www.boards.ie/discussion/comment/119504490#Comment_119504490

But what movie should be there instead of them ?

Superhero and Sci-fi are what sells in cinema now. If Marvel go bust tomorrow you still won't be getting the Palmer D'Or winner you will just get a closed cinema.

Apiarist · 22-08-2022 10:59AM

I think that the era of large cinemas occupying the best real estate is over and they will go the way of Xtra-vision and HMV. Personally I would only trouble myself with getting out of the house to pay €15 to see a movie if the film is exceptional. Otherwise, I will watch it online later.

Cinemas need to evolve. Instead of huge theaters that need to pay huge rents, how about smaller screens with very good sound. Heck, how about screens for 5-10-20 people where a party can come and watch what they want, be it a new release or some older movie?

loyatemu · 22-08-2022 11:04AM

the studios are making Superhero movies because they make money. When they stop making money, they'll pivot to something else. I've no interest in seeing any of those films, but I'm in my 40s so not the target market.

I think long-form TV has killed a lot of the of drama, thriller type movies you used to see in the cinema (which has it's own problems IMO - I enjoy watching a good 100 minute movie, I don't necessarily want to commit to watching 50 1 hour episodes of whatever the latest "must-see" series is)

HerrKuehn · 22-08-2022 11:06AM

https://www.boards.ie/discussion/comment/119504504#Comment_119504504

I am not suggesting arty type movies, I am thinking more like Dune/Blade Runner 2049/interstellar/1917 etc etc. I think the comic movies have become an easy way out for the movie makers. They are taking up a larger and larger share of movies being pumped out. If this was a good thing surely cineworld would be in great health? I certainly don't go to the cinema very often anymore, mainly because of the offering. I will go and see Avatar 2 even though I thought the first one is crap, it is at least reasonably original.

JupiterKid · 22-08-2022 11:18AM

85 per cent plus of what the major cinemas show these days is complete derivative rubbish - as the others here opined, the "superhero" films make a lot of money for the Hollywood studios.

I also think Covid and the lockdowns/restrictions had a major negative impact on the cinema sector. Many people who would gave gone to the cinema before Covid simply aren't now. I go to the cinema about six times a year these days. I would go more often if there were better and more interesting films on offer, but there aren't.

Cinemas will have to evolve to better meet their customer's preferences or else close down. We've been here before. They survived the emergence of mass TV ownership in the 1960s, the video player/DvD in the 1980s/90s and will survive the Netflix etc options, but will have to evolve offer the cinemagoer a good (and appealing) reason to go to the pictures.

On a side note, the last time I was in Parnell Cineworld in Dublin with some friends it was filthy dirty, staff were clearly demoralised and much of the clientele left a lot to be desired.

Cineworld cinemas to file for bankruptcy.

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