Why Movie Theater Reopenings Overseas Show ‘Early Signs of Progress’ for the Industry – TheWrap

Business in the U.K. seems to be picking up looking at increasing location counts, as opposed to gross since the market reopened, Boxoffice Pro editor Daniel Loria said

Hollywood has resigned itself to forgo releasing new movies in theaters (for now), instead rolling out shelved wares overseas in markets where the novel coronavirus pandemic is more under control.

One sign of promising demand came Tuesday from Imax, which pulls roughly 70% of its overall revenue from outside of the U.S. The large-format theater exhibitor has reopened 624 of its theaters globally, or approximately 40% of its network, including 409 theaters in China over the July 24 weekend, CEO Rich Gelfond said Tuesday.

Over the weekend in China, Dolittle and Bloodshot earned $750,000 on Imax screens, despite playing in only 40% of the companys Chinese theaters with a 30% capacity limitation and reduced ticket prices, the company said Tuesday. We project that approximately 1,400 screens in 70 markets, or 90% of our global network, will open by the end of August.

Also Read: Imax Reports Revenue Down 92%, $26 Million Loss in Q2

Reopening theaters and getting the moviegoing business up and running again has proven difficult for studios and exhibitors, particularly in the U.S., where cases of COVID-19 continue to spike in many key markets.

On Monday, Warner Bros. committed to releasing Christopher Nolans highly anticipated big-screen spectacle Tenet in more than 70 countries worldwide ahead of the U.S. The film will open starting Aug. 26 in international territories, including Australia, Canada, France, Germany, Italy, Japan, Korea, Russia, Spain and the U.K. It will open in the U.S. over Labor Day weekend in select cities. But that decision followed months of uncertainty and three announced delays in a release date.

In South Korea, theaters have been able to successfully reopen and even produced a genuine box office hit: Peninsula, the blockbuster sequel to 2016s Train to Busan, has grossed more than $21 million in the country since its July 15 release. Thats a case where a successful domestic title on the market can make a real impact, Boxoffice Pro Editorial Director Daniel Loria said.

Also Read: Christopher Nolan's 'Tenet' Will Not Skip Theaters for HBO Max Debut - But Other Movies Could

Peninsula continues to perform well across markets in Asia and Europe, drawing $26.5 million in global box office despite capacity limitations and highlighting solid demand among moviegoers in lower-risk markets worldwide, Gelfond said in a statement on Imaxs second quarter earnings. We are seeing early signs of progress, with approximately 40% of our global network currently generating revenue We believe that our solid financial position gives IMAX the strength to be ready as the rest of our network comes back online.

On the other end of the overseas theatrical spectrum, however, French theaters have struggled since reopening in June. The French Cinema Federation has called on the government to provide additional aid the cinema sector.

Theaters there were allowed to reopen on June 22 and are hoping the influx of studio product helps their cause a bit, Loria said. Admissions from repertory titles and domestic films havent been able to keep Pariss iconic Grand Rex open its closing temporarily through much of August. Complicating things further is a creeping number of domestic films in France now opting for a VOD release instead of hitting theaters at reduced capacity.

Gelfond assured analysts that theaters can operate successfully at 50% capacity or below, noting that Imaxs average global capacity was roughly 10% in 2019, when the company set a new box office record. Of course, a lot is still riding on whether people will feel comfortable enough to head back to theaters (signs point to yes) and whether major studio releases will draw moviegoers back to the theater, even at more limited capacity as Pennisula has done for South Korea.

Also Read: Hanks vs Theron vs Samberg: With Theaters Still Closed, Summer Movie Showdowns Shift to Streaming

According to the British Film Institute, the top 15 films at the box office during the July 17 to July 19 weekend (the most recent available) grossed more than $300,000. None of the films in the top 15 was a major release, most being library titles.

In terms of performance, without studio reporting were somewhat limited in what weve been able to track, Loria said. Business in the U.K. seems to be picking up, however looking at increasing location counts, as opposed to gross since the market reopened.

As the coronavirus continues to spread, an increasing number of movies are delaying or suspending production. As the number of impacted movies grows, TheWrap felt it would be most informative to keep a running list.

"No Time to Die"

MGM, Universal and Bond producers Michael G Wilson and Barbara Broccoli announced that after careful consideration and thorough evaluation of the global theatrical marketplace, the release of "No Time to Die" will be postponed until November 2020.

"A Quiet Place Part II"

Director John Krasinski announced on Instagram that the horror sequel's March theatrical release would be delayed amid the growing spread of the coronavirus around the globe. Paramount has now dated the film for release on Sept. 4.

Peter Rabbit 2: The Runaway

"Peter Rabbit 2: The Runaway" was one of the first films delayed as part of the coronavirus, with Sony pushing its late March release to Aug. 7. But as the shutdowns continued, Sony juggled its release slate so that the family film will now open Jan. 15, 2021.

"Fast and Furious 9"

The release of the next Fast & Furious installment, F9, has been delayed from May 22 to now opening on April 2, 2021.

"The Lovebirds"

Paramount postponed the April 3 theatrical release of the romantic comedy The Lovebirds" starring Issa Rae and Kumail Nanjiani after its SXSW premiere was also canceled. Netflix then acquired the film from Paramount and debuted it on May 22.

"Blue Story"

Paramount postponed the theatrical release UK gang film "Blue Story," which was set to open on March 20. The film then premiered on digital on May 5.

"The Artist's Wife"

Strand Releasing and Water's End Productions delayed the limited release of the Bruce Dern and Lena Olin film "The Artist's Wife." The film was meant to open in New York on April 3 in Los Angeles on April 10 and in San Francisco on April 17. No new release date has been set.

"The Truth"

Hirokazu Kore-eda's film "The Truth" from IFC Films will postpone its March 20 domestic release to now open at an unspecified date in summer 2020. The film is in both French and English starring Catherine Deneuve, Juliette Binoche and Ethan Hawke and has already opened in some overseas markets. IFC Films has set a new release date for July 3.

"Mulan"

Disney postponed the release of its blockbuster, live-action remake of the animated film "Mulan" from March 27 to now open on July 24. The shift was part of a big shuffle of films Disney made to its release calendar on April 3.

"The New Mutants"

After numerous delays, 20th Century's X-Men spinoff "The New Mutants" was also pushed back by Disney "out of an abundance of caution." The film from director Josh Boone was meant to open April 3. The film will now open Aug. 28, 2020.

"Antlers"

"Antlers," an indie horror film from director Scott Cooper starring Keri Russell, was also pushed back by Disney and Searchlight Pictures from its April 17 release. No new release date has been set.

"Black Widow" and the MCU

In a restructuring of its entire release calendar, Disney pushed back every Marvel movie in the cinematic universe. "Black Widow" was meant to open on May 1, but will now shift back to the slot previously occupied by "The Eternals" on Nov. 6.Eternals is moving to February 12, 2021, Shang-Chi and The Legend of the Ten Rings will open May 7, 2021, and Doctor Strange in the Multiverse of Madness is shifting to Nov. 5, 2021. The changes also affected Marvel's slate for 2022 with Thor: Love and Thunder opening Feb. 18, 2022, Black Panther 2 shifting to May 8, 2022, and Captain Marvel 2, which was not previously dated, is now set for a July 8, 2022 release.

Untitled Elvis Movie

Baz Luhrmann's Elvis Presley biopic starring Austin Butler ceased production in Australia after co-star Tom Hanks (playing Presley manager Col. Parker) and his wife, Rita Wilson, tested positive for COVID-19. The planned release date was also bumped back one month to now open Nov. 5, 2021.

"Mission: Impossible 7 and 8"

In late February, Paramount's action sequel halted production in Italy on the Tom Cruise action sequel. Paramount on April 24 also bumped the release dates of both films, with "M:I 7" moving to November 19, 2021 from its July 2021 release date, and the eighth film also moving back to Nov. 4, 2022 from its summer release.

"The Nightingale"

Sony postponed the Budapest shoot of the drama starring real-life sisters Dakota and Elle Fanning.

"Birds of Paradise"

Amazon Studios halted production in Budapest on director Sarah Adina Smith's ballet drama.

"Jurassic World: Dominion"

Universal put a pause on production on the third "Jurassic World" in March after four weeks of shooting had been completed in the UK for a 20-week shoot. Production will resume on July 6, and the film is expected to be released on June 11, 2021.

"Flint Strong"

Universal also halted production on this boxing biopic starring Ice Cube and Ryan Destiny.

"Man From Toronto"

Sony delayed the start of production on the action comedy starring Kevin Hart and Woody Harrelson (who stepped in to replace Jason Statham).

"Official Competition"

Spanish studio Mediapro suspended production on the new comedy starring Penlope Cruz and Antonio Banderas.

"The Batman"

On March 14, Warner Bros. halted the U.K. production on Matt Reeve's DC Films reboot for at least two weeks. The film stars Robert Pattinson as the Caped Crusader. On April 20, Warner Bros. officially shifted the release date back four months to Oct. 1 from its originally planned June 2021 release date. The shift also pushed back some other DC titles, including "The Flash" to June 3, 2022 and "Shazam 2!" to Nov. 4, 2022.

"Samaritan"

On March 14, MGM paused production on the Sylvester Stallone thriller. The film had been shooting in Atlanta.

"Cinderella"

Sony's modernized take on "Cinderella" from director Kay Cannon and starring Camila Cabello will put its production on hiatus due to the travel ban extension to the UK. The film was shooting at Pinewood Studios.

"Fantastic Beasts 3"

The third installment of J.K. Rowling's "Fantastic Beasts" series that's spun off from the Harry Potter universe will postpone its production that was scheduled to begin in March in the U.K. The film stars Eddie Redmayne, Johnny Depp, Jude Law and Katherine Waterston.

"The Card Counter"

Paul Schrader's "The Card Counter," starring Oscar Isaac, Willem Dafoe, Tye Sheridan and Tiffany Haddish, shut down production with five days remaining in its shoot after the director said on Facebook that a "day player" tested positive for the virus. "Myself, I would have shot through hellfire rain to complete the film," Schrader added. "I'm old and asthmatic, what better way to die than on the job?" Schrader said in an interview in June that the film would resume production on July 6 but that all major crowd and intimate scenes had been completed.

"The Matrix 4"

Production on "The Matrix 4" was temporarily put on hold in March, an individual with knowledge told TheWrap. The sequel starring Keanu Reeves was in production in Berlin, Germany.

"First Cow"

After releasing Kelly Reichardt's "First Cow" in limited release on March 6, the distributor announced Monday it will re-release the film in theaters later this year.

"Deerskin"

The theatrical release of the indie film "Deerskin" from director Quentin Dupieux starring Jean Dujardin has been postponed until further notice. Greenwich Entertainment meant to release the film on March 20 after it played at Cannes, TIFF and Fantastic Fest. The movie will now open via a virtual cinema offering on May 1.

"Uncharted"

Uncharted, the film adaptation of the popular PlayStation video game franchise starring Tom Holland, Mark Wahlberg, and Antonio Banderas, was unable to begin production in March amid coronavirus concerns. As part of a larger shuffle of Sony's release slate, the most recent release date for the film was also shifted back from March 2021 to Oct. 8, 2021.

"The Climb"

Sony Pictures Classics' indie comedy "The Climb," which played at Sundance this year, was meant to hit theaters March 20 and will now be released on Oct. 9.

"Avatar"

The sequels to James Cameron's four "Avatar" sequels delayed shooting in New Zealand indefinitely, according to the film's producer Jon Landau speaking to the New Zealand Herald. The executive team was to fly to Wellington, NZ on Friday but will remain in Los Angeles due to the coronavirus. Landau said he couldn't give an answer as to when production would resume and when the local Kiwi crew could get back to work. "If I told you we are going to know something in two weeks I'd be lying. I might not be wrong - even a broken clock is right twice a day. But I would be lying because I don't know," Landau said."We're in the midst of a global crisis and this is not about the film industry. I think everybody needs to do now whatever we can do, as we say here, to flatten the curve."

"The Personal History of David Copperfield"

Searchlight Studios was meant to release "Veep" creator Armando Iannucci's comedic take on the Charles Dickens novel on May 8. It will now open in limited release on August 14.

"The Woman in the Window"

The Amy Adams mystery thriller from director Joe Wright, "The Woman in the Window" was meant to open in theaters on May 15 from 20th Century Studios. No new release date has been set.

"Bull"

The theatrical release of the Annie Silverstein indie drama "Bull" was postponed from its March 20 release and will now open on VOD and digital on May 1. The film has toured the festival circuit since making its debut at Cannes in 2019.

"Minions: The Rise of Gru"

The latest "Minions" movie "The Rise of Gru" was postponed from its release date on July 3. Illumination Entertainment's Paris office was forced to shut down due to the coronavirus, so the film was not able to be finished in time. Universal will release the film on July 2, 2021, a full year after its initial date.

"Wonder Woman 1984"

The sequel to "Wonder Woman" starring Gal Gadot will now hit theaters on Oct. 2 after first being pushed back from its June 5 release date and again from Aug. 12.

"In the Heights"

The movie musical based on Lin-Manuel Miranda's stage production "In the Heights" was postponed by Warner Bros. from its June 26 release date and bumped to June 18, 2021.

"Malignant"

"Malignant," a horror film from director James Wan, was pushed indefinitely from its release date on Aug. 14 to clear the way for "Wonder Woman 1984" to open at the tail end of the summer.

"Peter Rabbit 2," "Morbius" and "Ghostbusters: Afterlife"

In a sweeping overhaul of its release slate, Sony moved three films it had scheduled for release this summer to the first quarter of 2021. The "Peter Rabbit" sequel will now be released in January 2021 while both "Morbius" and "Ghostbusters: Afterlife" have been moved to next March.

"Greyhound"

Sony has moved a WWII drama written by and starring Tom Hanks off of its mid-June release date and partnered with Apple to release the film on Apple TV+ in early July.

"Wicked"

Universal has removed the movie musical adaptation of Wicked from its release slate from its original date on Dec. 22, 2021, and will be redated at a later time.

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Why Movie Theater Reopenings Overseas Show 'Early Signs of Progress' for the Industry - TheWrap

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