Cineworld Group is the owner of Regal Cinemas, the second largest chain in the US. And thankfully, they're now set to reopen on April 2. The announcement came today, as the U.K.-based group secured a deal to show a limited run of Warners' "Godzilla vs. Kong" on March 31. They'll also show a wider release of "Mortal Kombat" on April 16.
Regal Cinemas Reopening Plan
Regal Cinemas closed its 500+ locations six months ago due to the pandemic. The company had been waiting for higher seating capacities, and also positivity in box office growth and vaccines. Cineworld also plans to reopen their U.K. cinemas in May, in accordance with guidance from U.K. health officials.
"We have long-awaited this moment when we can welcome audiences back to our Regal theaters and restore our essential role within the communities we serve," Cineworld CEO Mooky Greidinger said in a statement. Greidinger also assured that the health of all staff and moviegoers remains a top priority, pledging to follow CinemaSafe guidelines that have been established by the National Association of Theatre Owners. "We continue to take all the necessary precautions and abide by our CinemaSafe guidelines to confidently provide a safe and comfortable experience."
Cineworld Studio Agreement
Cineworld and Warner Bros. agreed to a shortened release window for upcoming releases. The multi-year agreement, starting in 2022, will allow WB a 45-day exclusivity in theaters, with certain provisions. Prior to the pandemic, studios abided by a long-standing 90-day theatrical exclusivity. The new agreement is more in line with a similar deal Paramount secured for titles like "A Quiet Place Part II."
"We are very happy for the agreement with Warner Bros. This agreement shows the studio's commitment to the theatrical business and we see this agreement as an important milestone in our 100-year relationship with Warner Bros." Greidinger said.
On an earnings call Thursday, Greidinger confirmed that they are pursuing deals with other studios. Cineworld is talking with Universal Studios. The two groups will likely work out a deal similar to the one Universal made with AMC Theaters last year. That deal gave Universal 17- and 31-day theatrical exclusivity for their movies. Greidinger assured that while the deal is being worked out, Regal Cinemas will still be showing Universal movies.
Greidinger also responded to Disney's shocking decision to move "Black Widow" and "Cruella" to a theatrical/Disney+ Premiere Access release. “We trust and believe at end of the day that theatrical exclusivity is of interest to all sides — exhibition, studios, moviemakers. Once the dust settle(s) a bit, there will also be much more stability in the windows issue,” Greidinger said.
This news comes to us from Variety and Deadline.
About the Author
Matt Lissauer is a writer & data manager for Noovie. When he is not busy writing listicles, Matt is enjoying life in New Jersey with his lovely wife and three kids.