The United States, Canada, and the United Kingdom are losing immediate access to Regal Cinemas. It was announced on October 3rd by Regal Cinemas that all theatre locations throughout these regions will shut down effective immediately. Their decision comes after Metro-Goldwyn-Mayer announced that “No Time to Die” had been delayed until April 2021, with no films slated to arrive beforehand. Maintaining operations would cost the worlds 2nd largest cinema operator more money than earned. It should be noted that Regal Cinemas also clarified that Cineworld, their subsidiary theatre chain, will also close all locations throughout the United Kingdom.
Regal Cinemas reopened a large percentage of their locations in Canada, America, and the UK. It was hoped that Christopher Nolan’s “Tenet” would obtain large profits at the international box office & prompt production houses to begin re-releasing their films. However, the American domestic box office failed “Tenet”, with the $100 million box office record not being broken. Production houses like Metro-Goldwyn-Mayer have cancelled all releases for 2020 to eliminate financial fallout of their films. Universal Pictures has postponed “Fast Nine” until the 2021 Spring Season as well, causing concern that cinema chains won’t sustain the prolonged delay of operation.
Circumstances for Tenet are different when looking at the Chinese & Asian box office, with Christopher Nolan’s latest thriller earning more than $300 million since it’s release. Domestic results weren’t positive & prompted most studios to delay their films, with Asian box offices not enough to garner continues released. Warner Brother Studios confirmed that their upcoming movie “Wonder Woman 1984” won’t release until December 2020. Disney has also postponed the release of their slated movies, with “Black Widow” being delayed until an undesignated date in 2021.
Regal Cinemas cannot account for an additional six months of postponed operations; it’ll inflict financial disarray onto the corporation & likely prompt bankruptcy. Even Regal’s main competitor of AMC Theatres is struggling to sustain operational costs during the pandemic. With their most recent announcement, hundreds of thousands are at risk of losing their jobs. Individuals working with Regal Cinemas & Cineworld in the United Kingdom have already entered furlough status. An opportunity to regain that employment will become available with Regal Cinemas opens their locations & all subsidiaries with Cineworld.