Exhibitor News

Tea Leave Reading for Chinese Cinemas

Wanda Film is the group that bought AMC in the States and which then bought the studio Legendary Entertainment, the company behind blockbusters like Jurassic World and The Dark Knight, and also bought the mid-sized theatre brand Carmike, and UK's Odeon Cinemas, and EU group UCI Cinemas – before being told by the Chinese government that they were spending too much money out of the country. They are now less than majority owner, though still in control of the board.

The primary source of income for Wanda previously was property development, which in this Age of PauseDemic has led to being a group with problems with getting rent from cinemas who are often the cornerstone of a closed or partially closed malls. 

China famously opened and closed their cinemas, and technically the cinemas can open now though none are – except the private cinemas. AMC held a news cycle by saying that they had to report that there were serious odds that they could shutter completely or go BK. Of course, most people are aware that that was a kabuki, to put pressure on creditors.

And, with that in mind, Wanda has announced that they are going to build more cinema theaters. China’s Wanda Film To Build More Cinemas Despite Heavy 2019 Losses, Coronavirus Impact