On Monday (6/14) the Commodities Futures Trading Commission (CFTC) announced it had approved the trading of futures and options contracts tied to the box-office revenue of movies.
Hollywood, including all the major studios, guilds, and the MPAA were vehemently opposed to the trading of these contracts stating that they could impair the performance of films as market traders began looking for ways to affect a movie's opening.
The derivatives would be traded on the MDEX Exchange, aimed at large and institutional investors. The contracts would begin trading four weeks before a movie opened and end trading as the film premiered on its opening weekend.
As of today, the battle continues as Senator Blanche Lincoln (D-Ark.) has sponsored a senate bill - the Wall Street Transparency Act - which would prohibit such futures trading. Backers of the trading argue that movie futures are a way to finance movies and to hedge the risk of movie financing.
I'll continue to follow this development and how it will impact or be used by exbibitors to hedge box-office revenues.
Monday, June 21, 2010
PANAVISION'S NEW 3D SYSTEM
Panavision, Inc., the California based manufacturer of precision camera and related equipment for the motion picture industry announced on Wednesday that it had developed the first 3D System for cinemas that is compatible with all screens - white or silver - and with all projectors - film or digital.
The Panavision 3D System is being introduced next week at Cine Expo - Amsterdam. The System will enable exhibitors to show 2D or 3D content on the same screen - similar to the Technicolor 3D System. The Panavision uses a special lens for film projectors and a filter mechanism for digital cinema projectors, and includes the use of reusable glasses.
No pricing was given for the System or the glasses, nor were any particulars regarding contractual items for the use of the System. Panavision stated that their new System will be available worldwide by the Fall of 2010. I'll keep you informed.
The Panavision 3D System is being introduced next week at Cine Expo - Amsterdam. The System will enable exhibitors to show 2D or 3D content on the same screen - similar to the Technicolor 3D System. The Panavision uses a special lens for film projectors and a filter mechanism for digital cinema projectors, and includes the use of reusable glasses.
No pricing was given for the System or the glasses, nor were any particulars regarding contractual items for the use of the System. Panavision stated that their new System will be available worldwide by the Fall of 2010. I'll keep you informed.
3D SPURS U.S. BOXOFFICE
It appears, that for the foreseeable future, 3D films will be the U.S. boxoffice drivers. Last year, the year-over-year increase in boxoffice revenue was due entirely to 3D films and their accompanying higher admission prices (up to $15 in some locations).
Therefore, the issue for cinema owners/operators is not "if" but "when" to get on the 3D bandwagon. With the publics' current craze for 3D even the single-screen theatre owner must consider installing either the Technicolor on-film 3D System or a D-Cinema platform w/3D System to compete and draw in moviegoers.
Exhibitors should think hard, and in my opinion, get on the 3D bandwagon as soon as possible. For advice and information regarding any aspect of the current 3D Systems
- their required specifications, equipment, cost and financing - contact us at 800-448-1645.
Therefore, the issue for cinema owners/operators is not "if" but "when" to get on the 3D bandwagon. With the publics' current craze for 3D even the single-screen theatre owner must consider installing either the Technicolor on-film 3D System or a D-Cinema platform w/3D System to compete and draw in moviegoers.
Exhibitors should think hard, and in my opinion, get on the 3D bandwagon as soon as possible. For advice and information regarding any aspect of the current 3D Systems
- their required specifications, equipment, cost and financing - contact us at 800-448-1645.
CTC & CATHAY GROUP - LINK-UP FOR ASIAN CINEMA TRAINING
In March, the Head of Training & Staff Development for the Cathay Organization Holdings, Ltd., Anya Loh, visited CTC in Buffalo to attend a training and orientation program. The week-long program included a wide variety of topics - from
3D to concession operations.
Resulting from this visit the Cathay Group has extended an invitation to CTC to conduct training workshops for 50 of their senior and technical staff at their headquarters in Singapore and their offices in Kuala Lumpur, Malaysia. Tentatively scheduled for October 2010 we are very excited about this partnership as it reinforces CTC's preeminent position in the cinema training arena.
This year, the Cathay Group is celebrating its 75th Anniversary in the cinema industry - as film producer, distributor, and exhibitor - and it recently opened the second largest cinema complex in the world in Dubai, UAE.
The international boxoffice grew over 7% in 2009 and now accounts for over two-thirds of the global boxoffice. In contrast, last year, the U.S. cinema market was constant in terms of admissions, while the boxoffice gross increase was driven entirely by 3D films and their higher-per-ticket pricing.
Like other overseas exhibitors, the Cathay Group, is experiencing real growth and this is expected to continue for some time. As such, CTC will be at the forefront in assisting organizations to properly train and develop staff to manage and cope as they grow and expand their cinema operations.
3D to concession operations.
Resulting from this visit the Cathay Group has extended an invitation to CTC to conduct training workshops for 50 of their senior and technical staff at their headquarters in Singapore and their offices in Kuala Lumpur, Malaysia. Tentatively scheduled for October 2010 we are very excited about this partnership as it reinforces CTC's preeminent position in the cinema training arena.
This year, the Cathay Group is celebrating its 75th Anniversary in the cinema industry - as film producer, distributor, and exhibitor - and it recently opened the second largest cinema complex in the world in Dubai, UAE.
The international boxoffice grew over 7% in 2009 and now accounts for over two-thirds of the global boxoffice. In contrast, last year, the U.S. cinema market was constant in terms of admissions, while the boxoffice gross increase was driven entirely by 3D films and their higher-per-ticket pricing.
Like other overseas exhibitors, the Cathay Group, is experiencing real growth and this is expected to continue for some time. As such, CTC will be at the forefront in assisting organizations to properly train and develop staff to manage and cope as they grow and expand their cinema operations.
Wednesday, June 09, 2010
BENEFITING FROM THE CINEMA'S LOW ECO-COMMITMENT
These days - in view of the consumer's general cynicism toward business - there are not many initiatives a company can act upon which will positively enhance their sales and brand. However, one way to buck this trend is to be viewed as an environmentally friendly and socially responsible local business.
Virtually every consumer survey I've come across indicates that roughly 80% of the public view environmentally friendly businesses favorably and, as such, would be a business they are more likely to support with their patronage. So, being viewed by moviegoers as an eco-friendly, local business is a major positive in garnering on-going and continued support for your cinema.
As a follow up to my last article, I wanted to continue the theme of adopting sustainability initiatives that, one, can be easily implemented, and two, improve the bottom line while enhancing your cinema's eco-credibility.
WHAT ARE OTHERS DOING
The cinema seems wide open to becoming greener. For example, at this year's ShoWest Cinema Convention I found very little in the way of green products or services being marketed.
Therefore, it is even more advantageous for any cinema to develop, institute, and publicize their green initiatives - essentially becoming a green trailblazer. This would add tremendous value and credibility to your sustainability program and add very little cost to your plan.
This is a unique opportunity for cinemas - all of your environmental actions and initiatives should be "voiced" in all of your marketing, public relations, and sales activities.
BE REALISTIC BUT AGGRESSIVE
Recognize that the real return-on-investment of your sustainability efforts won't happen overnight. That's why it is so important to set realistic and achievable goals that can be built upon. However, you can and should publicize your actions, from the get-go, and continue this promotion. Don't be shy, as a cinema operator you are at the forefront in the greening movement of your industry.
Cinema's have a conspicuous public persona and, right now, is the right time to take advantage of an inevitable trend that is going to continue far into the future. So, be realistic about your goals and plans but once you start be aggressive.
The public is looking to local businesses to be not only good stewards of the environment but leaders in sustainability efforts impacting their neighborhood. View this public concern as an opportunity to re-ignite and rejuvenate your cinema's community relationship - the time is right!
Virtually every consumer survey I've come across indicates that roughly 80% of the public view environmentally friendly businesses favorably and, as such, would be a business they are more likely to support with their patronage. So, being viewed by moviegoers as an eco-friendly, local business is a major positive in garnering on-going and continued support for your cinema.
As a follow up to my last article, I wanted to continue the theme of adopting sustainability initiatives that, one, can be easily implemented, and two, improve the bottom line while enhancing your cinema's eco-credibility.
WHAT ARE OTHERS DOING
The cinema seems wide open to becoming greener. For example, at this year's ShoWest Cinema Convention I found very little in the way of green products or services being marketed.
Therefore, it is even more advantageous for any cinema to develop, institute, and publicize their green initiatives - essentially becoming a green trailblazer. This would add tremendous value and credibility to your sustainability program and add very little cost to your plan.
This is a unique opportunity for cinemas - all of your environmental actions and initiatives should be "voiced" in all of your marketing, public relations, and sales activities.
BE REALISTIC BUT AGGRESSIVE
Recognize that the real return-on-investment of your sustainability efforts won't happen overnight. That's why it is so important to set realistic and achievable goals that can be built upon. However, you can and should publicize your actions, from the get-go, and continue this promotion. Don't be shy, as a cinema operator you are at the forefront in the greening movement of your industry.
Cinema's have a conspicuous public persona and, right now, is the right time to take advantage of an inevitable trend that is going to continue far into the future. So, be realistic about your goals and plans but once you start be aggressive.
The public is looking to local businesses to be not only good stewards of the environment but leaders in sustainability efforts impacting their neighborhood. View this public concern as an opportunity to re-ignite and rejuvenate your cinema's community relationship - the time is right!
Subscribe to:
Posts (Atom)
