Owning a movie theater right now is no picnic. Deciding when and how to reopen as society confronts the next phase of the pandemic is complicated by patchy public health patterns, uncoordinated regulations and unpredictable customer behaviors.
AMC, the biggest theater owner in the U.S., plans to begin reopening on July 10th. Last week its chief executive Adam Aron told Variety that AMC would not require customers to wear masks, only to reverse course the next day following a public backlash. Regal and Cinemark, two other big cinema chains, also plan to be up and running by mid-July. All three companies, plus many smaller ones, have begun sharing their plans to provide moviegoers a safe environment to allay their health concerns and lure them back to the big screen.
Among those plans: encouraging customers to use cashless and contactless payments for tickets and concessions, which may prove to be a windfall for Santa Monica-based Atom Tickets.
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Craig Kornblau, now entertainment and media advisor for Alphabet's venture arm, GV (formerly Google Ventures), is familiar with disruption.
As president of home entertainment at Universal Pictures managing revenue over $2 billion, he saw his booming DVD business blow up during the 2008 financial crisis as consumers tightened their spending, having decided that what they wanted from their films was not ownership but access. But that experience showed Kornblau, who began his career at Disney, that adversity also creates opportunity. Out of that sea change emerged the rise of Redbox and Netflix rentals, which, he says, kicked off the modern era of entertainment.
Craig Kornblau is entertainment and media advisor for Alphabet's venture arm, GV.
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