Cinemas in the UK are hoping that upcoming blockbuster movie releases in the winter will bring a much-needed boost after a quiet summer. Despite the release of the popular and successful Top Gun: Maverick earlier this summer, it failed to ignite a lasting resurgence for cinema. Since cinemas were able to open in the UK …
National Cinema Day provides boost in UK and US
National Cinema Day in the UK and the US proved successful in providing a boost to ticket sales, with an estimated 8.1 million movie fans attending their local venue in the US and 1.46 million in the UK on Saturday. Discounted tickets were available for £3 and $3 to entice moviegoers back to cinemas, which …
Cineworld shares halve following rescue talks
Cinema chain Cineworld’s market value more than halved after management said that it was in talks with stakeholders about a financial rescue package. The chain has blamed a lack of blockbuster films which has in turn resulted in lacklustre admission levels. Cineworld has managed to rack up a debt of more than $4.8bn (£4bn/€4.8bn) according …
Fall in ticket sales contributes to Vue valuation decline
The Vue International cinema chain has had its valuation slashed by approximately half, according to a report from The Times. The valuation has been almost halved to £650m ($785m/€771m) in a restructuring deal that also allows the chain to be protected from a €130m legal claim in Germany, and the injection of new funds into …