Analyst Believes Theaters Won't Open Until September, Cinemark & Imax In Best Position To Survive
According to MKM Partners analyst Erik Handler (who I like to imagine is just Ben Stiller's Risk Analyst character from ALONG CAME POLLY) we aren't going to be able to smell extremely cold air conditioning and buttery popcorn goodness for at least fifty more days.
Well, now I just hope he eats too much indian food and gets the shits in front of Jennifer Aniston.
THR reports that Handler says:
"The near-term outlook for exhibition related stocks remains extremely clouded given the uncertainty about when theaters will be able to re-open with new Hollywood content. We place a low likelihood of TENET opening on Aug. 12 given a rising number of COVID-19 cases in key areas, such as California, Texas and Florida, along with the slowed re-opening of the New York City economy. In our view, it would be surprising to see theaters able to re-open nationwide before September, at the earliest."
Well fuck me in the face with an aardvark. That's just more bad news for us who were hoping to get back to some sense of normalcy with some escapism. We're going to be alright. It'll just be even more glorious when we finally do get to go to the movies and do it safely. I'm going to pay $7 for a pack of Twizzlers with pride, goddammit. Not to mention, this isn't a for sure thing. This is just an analyst prediction. Fuck that guy, right? I'm kidding. He's just doing his job. I'm sure he's lovely.
He also adds that Cinemark and IMAX are both in the best position to survive, saying:
"We continue to believe Imax and Cinemark are best positioned to navigate through current business issues given their well funded balance sheets."
I needed this W. Cinemark is by far the closest theater to my house. Plus I have Cinemark rewards. I have a LOT of Cinemark rewards. We'll keep you updated on theaters, Halloween Kills, Scream 5 and all that good shit right here on WWAM until that happens. Be sure to subscribe to the newsletter below and check out the youtube channel! Have a great monday folks. Can't wait to shush you at a movie theater in August.