Cinemark Closes Down, Nearly 4,000 Theaters Closed Nationwide

Cinemark Closes Down, Nearly 4,000 Theaters Closed Nationwide

Cinemark Closes Down, Nearly 4,000 Theaters Closed Nationwide

According to Deadline, Cinemark has closed all 345 theaters in the U.S. effective today. Cinemark has joined AMC Theatres (the nation’s largest movie theater chain), Regal, Cineplex, Landmark, and Alamo Drafthouse in temporarily closing their doors in an effort to stem the spread of the COVID-19 virus.

“Through these absolutely unprecedented and evolving times, one thing will not change, and that is Cinemark’s dedication to its team members and moviegoers,” said Mark Zoradi, Cinemark CEO. “The decision to close our U.S. theaters was incredibly tough, but we know it is the right thing to do as global coronavirus concerns continue to escalate. We will closely monitor recommendations of national and local governmental health organizations and look forward to inviting everyone to once again enjoy experiencing the movies with Cinemark.”

Cinemark is extending the expiration of Cinemark Movie Rewards points to June 30 and is also pausing all Movie Club memberships. Members will be able to maintain unused movie credits and billing will be on hold.

With the closure of major theater chains, Deadline also reveals that distribution executives estimate around 20% of the nation’s movie theaters remain intact and open for business, while about 4,000 theaters have now been shut down, leaving many wondering what happens next as businesses and theater chains face massive financial losses in addition to how long the shutdowns will last. As we saw, the box office this past weekend slowed to a crawl, with Onward, for example, dropping 73% from the previous weekend and maintaining the #1 slot garnering $10.5 domestically. With theaters shutting down, it’s likely the movie will finish its run as the lowest-grossing Pixar movie of all-time.

Deadline also reported that 120,000 IATSE members have lost their jobs in production and event shutdowns. A large number of those members work in Hollywood production, but IATSE also covers conventions, live events, and all “people-facing businesses” that have been hit hard by the pandemic.

Yesterday, the IATSE General Executive Board approved $2.5 million in donations to three entertainment charities, including the Actors Fund, the Motion Picture and Television Fund, and the Actors Fund of Canada.

Some studios have already promised a two-week severance pay to the full-time production staff while others have so far offered only encouraging words and promises of jobs waiting for staffers when production resumes.

“It’s all over the place,” said a union source, via Deadline. “It depends on the employer. There’s no consistent pattern to it, and they’re all trying to figure it out.”

ComingSoon.net recommends all readers comply with CDC guidelines and remain as isolated as possible during this urgent time.

The post Cinemark Closes Down, Nearly 4,000 Theaters Closed Nationwide appeared first on ComingSoon.net.

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