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Closure of Theater Chains...


Chris A

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On 10/7/2020 at 5:44 PM, NBPK402 said:

In Mexico they assign you seats and make sure that no seat is assigned in front, behind, or to the sides of you...with a minimum of 6' spacing.i have been told they only allow 20 people per theater showing too. The problen in the USA is the people refuse to wear masks, and greedy theaters would pack the theater if possible.

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There is Zero Proof that mask stops the Spread of The Chinese Virus.

It's Not a Healthy Practice for a person to wear a Mask All Day.

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On 10/4/2020 at 6:00 PM, Chris A said:

This can't be good for the professional/cinema marketplace:  https://www.reuters.com/article/us-health-coronavirus-cineworld-grp/regal-owner-cineworld-considering-closing-all-u-s-uk-screens-idUSKBN26P00F

 

This puts a lot more pressure on outfits like Klipsch (KGI) consumer products to carry the load while the big cinema chains figure out how to deal with the SAR-CoV-II virus.  I think there is a lot that can be done to increase the safety of cinemas, but the profitability of such cinemas is going to change--especially for the major movie studios that create "A" films.  Perhaps home theaters as a concept is something that could be developed into neighborhood/smaller venues...?

 

Your thoughts?

 

Chris

I remember in the late 70s they tried something like this, much smaller spaces with a few different movies playing. They seemed to fizzle out. Perhaps that model (on a per square foot basis), may make more sense now.

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From this article: https://www.researchandmarkets.com/reports/4845709/home-theaters-global-market-trajectory-and#rela0-5030037

 

Quote

Amid the COVID-19 crisis, the global market for Home Theaters estimated at US$15 Billion in the year 2020, is projected to reach a revised size of US$48.1 Billion by 2027, growing at a CAGR [compound annual growth rate] of 18.1% over the analysis period 2020-2027.

 

Home Theatre In A Box System, one of the segments analyzed in the report, is projected to record a 19.%8 CAGR and reach US$24.5 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Sound Bar segment is readjusted to a revised 17.9% CAGR for the next 7-year period...

 

...Component System Segment to Record 16.2% CAGR

In the global Component System segment, USA, Canada, Japan, China and Europe will drive the 15.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.7 Billion in the year 2020 will reach a projected size of US$4.6 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.

 

I think that Klipsch is well positioned in the HT sound segments, and the numbers mentioned here correspond to my initial guess for how things will likely fall out.  That's a very healthy projected growth rate.  Too bad for big screen cinema and the type of blockbuster movies that it supports, but I think that disc rentals and online streaming are the way this market will continue to expand.  More and more smaller productions geared to individual tastes and (perhaps) improved storytelling (as opposed to high-dollar special effects typically found in blockbuster movies) seems to be the way things are going.  This is perhaps good for KGI, after effectively losing the cinema marketplace to current events.

 

In one article I read recently, someone was complaining about how many Netflix online streaming series were added and then cancelled this year alone (a number greater than 14) as if this were a bad thing (i.e., the author was complaining that he had to try more and more series vs. time because the ones that he was familiar with were being cancelled).  Some of the series that I've seen this year have been a step up from earlier years, and other series...well let's just say--I'm not sorry to see them cancelled.  I do see many "miniseries", some of these are very good relative to my viewing tastes. Most of these series are being picked up by Netflix and Prime from British and other foreign made series. 

 

At any rate, the demand for home theater sound systems looks to be robust over the next seven years--which is more central to the subject of this thread.  How that will change the content of what is being watched is another story. 

 

[EDIT: while I personally do not have use for e-gaming, it seems to me that this segment continues to expand at a healthy rate.  Having a good surround sound system for the bigger and higher resolution screens also seems like it is a growth market.]

 

Chris

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One of the thoughts that came to mind was the expansion of HT installations to fulfill the needs of a wider variety of ages than the big-screen theaters were consistently attracting.  Over the years, it seems to me that the theaters have continued to cater more toward the teen and early 20s crowd, while the more capable HT crowd seems to include older patrons who don't necessarily feast very heavily on DC and Marvel Comics movies.  With the closure of the big screens, some form of substitute HT or neighborhood theater (much smaller audiences) seems to make a lot more sense. 

 

What I don't see currently are turn-key package deals for smaller community-based theaters--like municipalities might offer.  This could be an alternative to the loss of the big screens, and tend to keep the teens and twenty-somethings (those still in school) engaged in their free time activities without necessarily increasing local crime rates.  This seems like it could become an increasing issue, i.e., the loss of the big screens for entertainment vs. time for these young folks without the income to own their own HTs.

 

So for public playground equipment for pre-teens and younger kids, I just found the following:

 

Quote

In general, you should budget about $1,000 per child. The average cost of playground equipment is between $8,000 and $50,000. For larger, higher-end structures, the cost can soar to as high as $50,000–$150,000...

 

0*iLLKD_SyiD8jr0Hq.

 

It seems to me that a fairly capable local neighborhood theater (up to ~20 seats) could be equipped for far less than this, and be hosted in existing community recreation centers--bring your own chair, sort of like an indoor Levitt Pavilion without the facilities and talent scheduling costs associated with live venues. 

 

Chris

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2 hours ago, Chris A said:

Over the years, it seems to me that the theaters have continued to cater more toward the teen and early 20s crowd, while the more capable HT crowd seems to include older patrons who don't necessarily feast very heavily on DC and Marvel Comics movies. 

Yes, and the sound systems at the theaters sounded terrible and was blaringly loud, which the kids probably likes. The last movie I went to see was Ford vs Ferrari. I liked the move, but the sound system made it hard to enjoy.

I am surprised that drive-ins aren't being built. 

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Guys--if you want to talk about  SARS-CoV-II/COVID-19 and masks, please start another thread. 

 

This thread is about the consequences on movies/home theaters. 

 

Chris

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30 minutes ago, NBPK402 said:

Well this is bad for the theaters, and also for buying physical media.

Interesting...and predictable.  Disney has always made its living on its "back catalog" (selling you the same thing over and over again) and doesn't really own a lot of skin in the cinema marketplace--other than getting more money for its new releases.  The video that follows the one that you posted, hosted by the same fellow, shows that Disney and other studios are doing what the record companies are trying to do with SACD, DVD-A, and Blu-Ray Audio--they're trying to sell you old movies shot on 35mm film at 4K resolution.  Blu-Ray quality is about it for most movies shot before 2008, unless they were shot in large format film--like 70MM, etc. 

 

The fact that Disney is now cutting out the major cinemas is not very surprising, since no one is really going to big screen movie theaters nowadays. They will try to survive this, so they are going to the marketing channels that will pay them the most money, and digital streaming is that marketing channel now.

 

Chris

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Interesting...and predictable.  Disney has always made its living on its "back catalog" (selling you the same thing over and over again) and doesn't really own a lot of skin in the cinema marketplace--other than getting more money for its new releases.  The video that follows the one that you posted, hosted by the same fellow, shows that Disney and other studios are doing what the record companies are trying to do with SACD, DVD-A, and Blu-Ray Audio--they're trying to sell you old movies shot on 35mm film at 4K resolution.  Blu-Ray quality is about it for most movies shot before 2008, unless they were shot in large format film--like 70MM, etc. 
 
The fact that Disney is now cutting out the major cinemas is not very surprising, since no one is really going to big screen movie theaters nowadays. They will try to survive this, so they are going to the marketing channels that will pay them the most money, and digital streaming is that marketing channel now.
 
Chris
True, and they only make 50% from theaters while they make 80% from streaming. I just wish they would keep making physical media.

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On 10/5/2020 at 9:57 PM, Zen Traveler said:

Imo, it depends who owns their Retail Space on which will make it--Landlords will want to see their rent, while owners of the property can whither this storm....That's my take.

 

I said this earlier and feel it's still the case insofar as physical theaters are concerned. They are in a similar boat as Restraunts, Bars, along with Gyms/Studios in this regard--Real Estate is expensive and the folks carrying the Note/contract want to be paid. If anything, the concept of Social Distancing will be around as long as pandemic numbers are on the rise and catering to a smaller number of people in that same location may not be feasible financially.  That's my take.

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4 hours ago, Chris A said:

What I don't see currently are turn-key package deals for smaller community-based theaters--like municipalities might offer.  This could be an alternative to the loss of the big screens, and tend to keep the teens and twenty-somethings (those still in school) engaged in their free time activities without necessarily increasing local crime rates.  This seems like it could become an increasing issue, i.e., the loss of the big screens for entertainment vs. time for these young folks without the income to own their own HTs.

I wonder how going from the  competitive marketplace to community centers would impact the industry? My guess not well but I'm not opposed to it. 

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1 hour ago, Chris A said:

Guys--if you want to talk about  SARS-CoV-II/COVID-19 and masks, please start another thread. 

 

This thread is about the consequences on movies/home theaters. 

 

Chris

 

It will be interesting to see whether masks will be required for attending movies in the (near) future.

 

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My guess is the current *REALITY* isn't going to be good for the Home Theater market insofar as speaker systems are concerned...If so they will still be geared more to the video aspect than the sound quality, imo--Ha! the HT market has a "Real Estate" problem similar to what commercial theaters have: 1) How much are you willing to spend on speakers? 2) How easy is it to space multiple speakers appropriately in a room that's not dedicated to Home Theater? This has been the ongoing dilemma with Home Theater.

 

Of course there will still be a market for these items, but who knows where the economy will be going and Soundbars still seem to be the rage. 

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According to Google, in 2017 the Movie Theater numbers were equal to 1992. Fast forward to where we are today, the streaming services have been on track to wipe them out, its just that the virus is going to make it happen quicker.  I dont care about going to a theater, quite frankly, I think the majority of films these days suck.  Convenience, affordability and the safety of your home and workspace is ruling all aspects of life for most people IMO.

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1 hour ago, Zen Traveler said:

...If so they will still be geared more to the video aspect than the sound quality, imo--Ha! the HT market has a "Real Estate" problem similar to what commercial theaters have: 1) How much are you willing to spend on speakers? 2) How easy is it to space multiple speakers appropriately in a room that's not dedicated to Home Theater? This has been the ongoing dilemma with Home Theater.

Interestingly, thing that I've found is that it is actually the other way around: the sound system is the thing that makes the movie, given good enough resolution and size of the screen for the listening/viewing room.  When most people finally do hear a good sound system with a HT, it completely transforms the experience.  Just remember going to a drive-in movie using those terrible old mono in-car speakers.  The difference is like that between the living and the dead as compared to big screen walk-in theaters.

 

28 minutes ago, Max2 said:

According to Google, in 2017 the Movie Theater numbers were equal to 1992. Fast forward to where we are today, the streaming services have been on track to wipe them out, its just that the virus is going to make it happen quicker. 

I remember reading what the pundits were saying upon the introduction of broadcast TV, saying how it was slated to put the big screens out of business (i.e., ~70 years ago). It didn't.  Now it seems that streaming video to home theaters, etc. are really going succeed the big screen, but it has taken a big change in terms of public health danger to push the big screens out.

 

Chris

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