CinemaCon is the convention for theater owners and the last time they had an event was in March of 2019. The tone of that convention was very "we don't need to worry about VOD, streaming isn't a problem, it'll be fine," as we went into the release of Avengers: Endgame being one of the biggest movies of all time. This time, it's going to be a very different sounding convention as theaters have been forced to deal with streaming, PVOD, and everything else with the pandemic. We'll have to see how this one turns out. Today, bright and early which is cruel considering how late dinner and drinks went last night after the Ghostbusters: Afterlife screening, we have MGM/UA and the State of the Industry presentation.
Today that MGM has had a rough time would be the understatement of the year. One of the first big movies of 2020 that got delayed was No Time To Die and the movie has had multiple false starts since the beginning of the pandemic. Each of those false starts has some sort of money lost with marketing costs. James Bond movies are already a ton of money to make, but the fact that this one has had those false starts means it needs to do massive numbers before it even starts to break even. There is also just the state of the industry in general. There are a lot of unknowns going on here and there is still the specter of COVID-19 hanging over the fall season. Sony was optimistic last night which is good, but who knows where this will go. There was also a rumored sale earlier this year. Follow along with our liveblog of the State of the Industry MGM/UA presentation below. I, Kaitlyn, will be on my own this time so please excuse any typos and technical difficulties as I try to do it live from the ground.
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