- Movie theatres across the United States are set to re-open over first half of September
- Success of OTT platforms during COVID-19 lockdown had led to concerns about future viability of movie theatres
- Successful launch of ‘Tenet’, a Hollywood spy action thriller released in international markets ahead of its US domestic release, has revealed significant amount of pent-up demand from avid movie goers
- The Movie Studio is currently engaging in filming process of three major motion pictures
Film production companies have been forced into a temporary lull over the past few months, as COVID-19 related restrictions led to wide-ranging cinema closures around the world. This past week, however, has brought about the initial signs that a recovery may be afoot, promising news to companies like The Movie Studio (OTC: MVES), an independent Florida-based film studio. Cinemas are back in business, following the longest hiatus since movie theatres first came into being in the early 20th century, heralded by the launch of Warner Bros.’ “Tenet”, a spy action thriller. Simultaneously, over the first half of September, nearly 40% of U.S cinemas are expected to resume operations – a move keenly awaited by various stakeholders within the US film industry.
As of the end of August, less than 1,000 U.S. theatres were estimated to be open, of which 300 were classed as drive-in cinemas. However, over the first ten days of September, three of the largest U.S. movie theater chains—namely AMC Theaters, Cinemark Theaters and Regal Cinemas—are set to re-open anywhere from up to 40% of their theatres to the public. The move has been mirrored by a marked increase in film marketing in…
NOTE TO INVESTORS: The latest news and updates relating to MVES are available in the company’s newsroom at http://nnw.fm/MVES
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