Chicken Soup for the Soul Entertainment, whose $375 million acquisition of Redbox closed about a year ago, delivered second-quarter financial results reflecting the company’s struggle to fully digest the deal.
26.07.2023 - 15:29 / variety.com
Naman Ramachandran Despite the humongous success of “Barbie” and “Oppenheimer” in the U.K. and Ireland, the territory’s theatrical exhibition business is not out of the darkness yet, the Vue cinema chain chief has said. Speaking to the Sky News podcast, Tim Richards, founder and CEO of Vue International, hailed an “amazing summer” citing the latest films in the “Guardians of the Galaxy,” “Mission Impossible” franchises and the “absolutely phenomenal” “Barbie” and “Oppenheimer.” “We knew it was going to be big.
The advance bookings that we had for the movies were the biggest since ‘Avengers: Endgame,’ but what was really amazing is 23% of our customers booked to see both movies at the same time. I don’t think anyone saw that coming. I mean, the pink of ‘Barbie’ and the incredible, but somewhat a little bit bleak landscape of ‘Oppenheimer,’ two very different movies, but they just worked together really well and they were very effectively marketed,” Richards said.
“It was really through social media that the term ‘Barbenheimer’ came out. It just really goes to show that when the movies are out there, our customers are desperate to come out and be entertained on a big screen. Our customers never left us during the pandemic and after the pandemic, that we just didn’t have any movies for them to see.
And now they’re back, our customers are back with us,” Richards added. The executive said that it was fair to say the recovery of the industry has taken potentially two years longer than anyone expected and it is still significantly down compared to the pre-pandemic period. He said that whenever films like “Belfast,” “Ticket to Paradise,” “Top Gun: Maverick” and “Avatar: The Way of Water” had released, they had broken records in
.Chicken Soup for the Soul Entertainment, whose $375 million acquisition of Redbox closed about a year ago, delivered second-quarter financial results reflecting the company’s struggle to fully digest the deal.
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Naman Ramachandran Greta Gerwig’s “Barbie” and Christopher Nolan’s “Oppenheimer” are attracting a record number of punters back to the cinemas in the U.K. and India. In the U.K. the Vue cinema chain said that it witnessed its biggest weekend in four years and second biggest weekend in history by admissions, with “Barbie” on track to become the biggest film of 2023, ahead of “Super Mario Bros.” Vue saw more than a fifth of its customers booking tickets to see both films. Over 2,000 sessions sold out for “Barbie,” delivering the largest ever opening weekend for an original, non-franchise film for the U.K. and Ireland market box office.
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