Vue chief executive: UK cinemas not out of the darkness despite Barbenheimer box office success | Business News

Fewer movie releases have hit UK cinemas, the top of one of many UK’s largest cinema chains has advised Sky Information.

“Our problem is a provide problem, our problem shouldn’t be sufficient films,” the chief government of Vue Worldwide, Tim Richards, stated.

“We all know the numbers: 36% fewer movies launched final yr, 20% fewer movies launched this yr.”

The post-COVID-19 cinema restoration has taken years longer than anticipated, Mr Richards stated. “We’re nonetheless considerably down [compared] to earlier than pre-pandemic run charges, and that is now happening 4 years.”

That is due to a scarcity of movies, he added. “After the pandemic we simply did not have the films for [audiences] to see. And now that they are again, our clients are again with us.”

The stakes are excessive. With the Hollywood actors’ strike and writers’ walkout occurring on the identical time, the UK cinema business shouldn’t be out of the darkness, Mr Richards stated.

The newest strikes are totally different, he stated, in comparison with earlier Writers Guild walkouts in 2007 and 2008 which lasted 100 days. That industrial motion was not likely felt because the studios managed to launch movies, Mr Richards stated.

“This time feels a bit of bit totally different, if it goes for an extended time frame then we’d really feel the affect of it.”

“I imply, it has been 40 years since their final strike and 60 years since each writers and SAG-AFTRA [Screen Actors Guild – American Federation of Television and Radio Artists] have been on strike collectively.”

General, nevertheless, it has been a tremendous summer season with an unimaginable collection of films, Mr Richards stated.

The affect of the so-called Barbenheimer – an amalgamation of the Barbie and Oppenheimer movie titles – led to the largest weekend of cinema-going since earlier than the pandemic.

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Advance bookings at Vue cinemas have been the most important because the 2019 launch of Avengers Endgame, Mr Richards stated.

Almost a fifth (23%) of Vue clients booked to see each films on the identical time, he added.

“I do not suppose anybody noticed that coming.”

“It simply actually goes to point out that when the films are on the market, our clients are determined to come back out and be entertained on a giant display.”

Mr Richards stated the period of firms like Netflix and Disney+ having a damaging impact on cinema viewing is over. “Streaming companies have their day within the solar and that is come and gone.”