Some promising news coming in if you were a moviegoer that frequented Cinemark locations before the COVID-19 closures. In the company’s earnings release reported via “Deadline”, Cinemark CEO Mark Zoradi confirmed they have shifted their attention to a domestic re-opening.
Zoradi says that employees have “shifted our attention to domestic re-opening, which we plan to initiate in a multi-phased approach beginning June 19.” This is great news for those itching to get back to the movies and it also appears that Zoradi is showing some optimism about re-opening as well. Some of that confidence has to do with the Warner Bros. release of Tenet on July 17 which Zoradi is “optimistic” will keep its planned release date. Zoradi has been in frequent talks with Warner Bros. and he says they sound like they’re still aiming for the July 17 date but a final decision is expected in the not so distant future because it has to be made before the studio puts more money into marketing the July release.
The chain’s phased re-opening plan, which is expected to take place between June 19 and July 10, can be shifted and is “flexible”, and there won’t be any negative financial impact should the exhibitor be required to pivot and delay re-opening by 4-5 weeks. Also, according to Zoradi, even with reduced auditorium capacities at 50%, “we can operate profitability with all the (safety) techniques we put in place.”
Cinemark is the No.3 U.S. exhibitor so it is significant that they are moving forward with a plan to open their doors again. The rollout that Zoradi presented will occur with five theaters opening in the first week around the chain’s Dallas Fort Worth area HQ followed by a third of the chain’s theaters in the second week, another third in the subsequent week, and the remaining theaters leading into the July 10-12 weekend. After this, the chain will be testing its systems, and programming studio catalog titles at reduced ticket prices which will run $5 for adults and $3 for children. Zoradi also pointed to the safety protocols that will be in place at Cinemark locations including, but not limited to, disinfecting seats and high touch areas, providing ample amount of seat and hand sanitizers, screening the health of employees; guests and employees’ wearing of masks, seat buffering technology, and the reduced use of paper tickets. Zoradi also revealed that, even though employees will be required to wear face maks, guests will be encouraged but not required to do the same. Zoradi also said that he doesn’t expect many theater chains to get into a full swing pre-COVID-19 rhythm until at least 2022 but he’s encouraged by the data they have received that shows moviegoers are anxious to get their butts back in the seats.
