Brixton Ritzy staff in pay dispute for London Living Wage with Picturehouse Cinemas
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DaveCinzano
WATCH OUT, GEORGE, HE'S GOT A SCREWDRIVER!
ska invita
back on the other side
this is strange - bottom of the article
"The state of Cineworld is in stark contrast to the performance of AMC Entertainment, the world’s largest cinema group and owner of the Odeon chain in the UK, which said the new Top Gun and Dr Strange films had fuelled a doubling of ticket sales in the US.
The company, which has a $12.8bn market value, said July had the highest monthly attendance in US cinemas since before the pandemic."
So why did Cineworld do so badly?
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hiraethified
Tron Cruise
Active Member
Picturehouse turned from art house/rep that were staffed by film nerds to showing blockbusters staffed with whoever + charging more than any other chain in London. Ritzy especially has been a disgrace for years (shit programming, prices so high it’s cheaper to go to Mayfair for a film and that fucking cafe). When the staff decide to noisily clank in a long ladder DURING THE FUCKING FILM then you know that any love for cinema left that building a long time ago.
CH1
"Red Guard"(NLYL)
I once tried their "Silver Screen" offering for pensioners etc, where you got to see a feature for half-price and get a free cup of tea at the end. Not criticising the Ritzy here, but I went to see "Get Out" and was bursting to share my shock horror with other patrons over the tea.
Suddenly I realised that Brixton is in fact in Surrey. "Have we been introduced?"
I would have gone again - at half-price - but truly they seldom show anything I want to see. This afternoon for example BBC2 had "Witness for the accused" a brilliant 1957 Billy Wilder film I'd never seen. There was no pop-corn going off in your ear and the sound and picture were just right.
I guess in their heyday the Little Bit Ritzy might have shown this as a Sunday matinee - now it's the BFI, the BBC or Talking Pictures TV (or possibly "Great Movies Classic")
The Ritzy had only one film I would have gone to see - the Buena Vista Social Club.
There again on Googling further I find that Silver Screen is Thurdays before 17:00 (2016)
No idea if it still runs - DNS not available.
CH1
"Red Guard"(NLYL)
Rubbish. It needs to go bankrupt and start again. Creative capitalism. Rees Mogg. Trump.
Whoever heard of a tycoon worth their salt paying their debts?
CH1
"Red Guard"(NLYL)
For those with an eye for figures, here they are. It is blatantly obvious that Mookie was brought down by an over-ambitious takeover in the USA. Everyone warned him at the time - would he listen?
Cineworld Group PLC: Shareholders Board Members Managers and Company Profile | GB00B15FWH70 | MarketScreener
Cineworld Group PLC: Company profile, business summary, shareholders, managers, financial ratings, industry, sector and market information | London S.E.: CINE | London S.E.
www.marketscreener.com
Gramsci
Well-Known Member
What annoys me is that the Ritzy was redeveloped as a multi screen cinema through Brixton Challenge funding.
Now its just another private asset at the mercy of the market place.
Maybe Cineworlds owners bad decisions will mean that the Picture House chain is sold off.
IMO if Ritzy is part of bankrupt Cineworld and hence worth little it should go into Council ownership. And then run as Lambeth Coop Council cinema.
Or teamed up with the Peckham plex. Who seem to have business model that does not exclude the less well off.
Now its just another private asset at the mercy of the market place.
Maybe Cineworlds owners bad decisions will mean that the Picture House chain is sold off.
IMO if Ritzy is part of bankrupt Cineworld and hence worth little it should go into Council ownership. And then run as Lambeth Coop Council cinema.
Or teamed up with the Peckham plex. Who seem to have business model that does not exclude the less well off.
Gramsci
Well-Known Member
Which industry experts are you talking about? Got a link for that?
I read the Guardian article and did not see that being said. Unless I missed something.
felonius monk
Well-Known Member
The Picturehouse chain represents about 10% of the total Cineworld business and pre-pandemic was profitable. If the UK business is put up for sale, I can see that there would be interest from other chains or even private equity (The Everyman chain for example has significant PE ownership). Putting up prices beyond inflation would be unwise given the current and forecasted squeeze on discretionary spending.
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Can’t remember where I read it but I don’t just read the guardian. If I find it, I’ll re-post
Brainaddict
slight system overdrive
Their prices are already such that I've stopped going to them. Hard to imagine there's any room to put them up further while maintaining ticket sales. Sadly my local tiny independent cinema collapsed during the pandemic but at least there's still Peckham Plex.
Gramsci
Well-Known Member
Was wondering if Cineworld increases prices to survive what the demographic they are going for?
Was in West End today. At home with swimming pool and one floor for the personal cinema.
People like this are going to stream films to their own personal cinemas. The London top one percent.
I do not see them mixing with the lower orders at a cinema,
So what exactly is the demographic who will pay almost twenty pounds to see a film?
During pandemic I started streaming. I get BFI player for five pound a month. No brainer compared to cinema tickets now.
ska invita
back on the other side
you dont need to be in the 1% to have a "home cinema"
i bought a projector for £200 - cheaper than a tv
tv quality is really good now, in terms of size and image
ive been to the imax three of four times...im not sure if Massive Screen really does anything for me tbh - i dont think i get immersed in a film on imax anymore than i do at home sat infront of a 3x2m (approx) image from the projector
the cinema financial model is more than ever about cynical blockbuster drawing people in to sell food and drink and rip off prices
however it still seems to just about work, especially when children are involved. ("AMC Entertainment, the world’s largest cinema group and owner of the Odeon chain in the UK, which said the new Top Gun and Dr Strange films had fuelled a doubling of ticket sales in the US." etc).
When you have kids you need shit to do with them. People still throw loads of money at cinema experiences, more out of habit and lack of other options I expect, rather than a love of going to the movies.
I am middle aged and have seen a lot of films over the years, so my perspective is different, but for me theres no reason to got to a cinema. the pure popcorn films are edited too fast for maximum fake excitement (actually make a film boring), and what adult films there are are better enjoyed at home
its a shame...there was a time that i loved cinemas...i worked as an usher for a year too...loved the whole thing, the buildings, the seats, the mood. Too many bad experiences in a row now (both film quality and atmosphere) make me not want to go again. Maybe if i lived in a small town I might start going to support a local or if I had time and money to waste, but on the whole, nah. I liev a walk away from an Odeon, last time I went there was Django Unchained - looked it up, 2012, ten years ago!
Talking of which I wonder what kind of business Tarantino's New Beverley cinema does:
New Beverly Cinema - Wikipedia
skyscraper101
0891 50 50 50
Talking of which I wonder what kind of business Tarantino's New Beverley cinema does:
I would probably go to that if I lived in LA, because of the interesting programming and care to create an atmosphere.New Beverly Cinema - Wikipedia
en.wikipedia.org
Weird, I used to live a few blocks away from that place. Never even knew it was there. I think I only went to the cinema like 3 times anyway the entire time I lived there.
The huge move to working from home is leading to a shift in local dynamics. People (not withstanding energy price increases) have more disposal incomes so you will see more Michelin restaurants out of London and presumably this is the demographic local cinemas will also go for. We take our kids to the cinema on a regular basis despite having streaming services at home. There’s a market out there but cineworld need to restructure/dispose of their debt
David Clapson
Well-Known Member
It's still cheap one day a week. £5 on Mondays or something. I saw Top Gun Maverick, which I thought might renew my faith in the big screen. Big mistake.
Winot
I wholeheartedley agree with your viewpoint
Would love to see the Before trilogy again but no sign of it on Picturehouse website
David Clapson
Well-Known Member
Could be because their ramshackle site is wrong. Give 'em a ring and tell them from me that it's no wonder they're bankrupt. Maybe they've sacked all their web staff.
It's a one-off for Cinema Day.
550 U.K. Cinemas to Celebrate National Cinema Day as Box Office Recovers to 80% of Pre-Pandemic Level
Some 550 cinema venues across the U.K. will celebrate cinema and cinema-going under the banner of National Cinema Day on Sept. 3. The initiative, which has the participation of all the major U.K. c…
www.variety.com
urbanspaceman
Well-Known Member
Cineworld files for Chapter 11 bankruptcy protection in US
UK-based cinema chain, second-biggest in the world, hit by lockdowns, audience slump and debt from Regal theatres takeover in US
Cineworld has declared bankruptcy. I wonder what this means for the Ritzy; probably new owners eventually
CH1
"Red Guard"(NLYL)
Well if the shares are only 4.78p each maybe Peckham Plex might buy them out?Cineworld files for Chapter 11 bankruptcy protection in US
UK-based cinema chain, second-biggest in the world, hit by lockdowns, audience slump and debt from Regal theatres takeover in USwww.theguardian.com
Cineworld has declared bankruptcy. I wonder what this means for the Ritzy; probably new owners eventually
But seriously... Chapter 11 Bankruptcy is an American method of perpetuating companies often by fleecing investors. Shareholders get diluted - one new share for every 10 - or even 100 - currently held.
Bondholders get a "haircut" - like their bonds are adjusted maybe a 5% bond now pays 3.5%
The logical thing would be for Cineworld to sell off the Regal group. Is Mookie up to it?
