Tim Richards, founder and CEO of Vue Leisure, Europe's largest private film operator, mentioned that film exhibition businesses are expected to make a comeback after the weathering pandemic disruption and Hollywood strikes. Richards also traded with keynote speeches at a meeting of the European Digital Film Discussion Committee (EDCF) on Wednesday.
“From now, we will study it again [the upcoming] “Avatar”, assuming that is the top and the beginning. ” Richards suggested choose. “For the last 5 years, the business has been in the pandemic and strikes and the beginning of the movie.”
While acknowledging that the United States has remained flat in 2024 compared to 2023, Richards noted that the lingering results from the Hollywood strike are slightly different than any basic shift in audience behavior.
“What we see is the consequences of the strike,” Richards said. “Even throughout the strike, we noticed that filmmakers across Europe stopped. The explanation for this is that if you are a filmmaker, your dream is to make a Hollywood movie in some unspecified period in the future, and you don't want to do something that could endanger that situation.”
The Vue head determined that manufacturing will not reboot meaningfully until February and March 2024, which makes chain issues still affect drama releases. “We suffered on '23 and '24, so we will suffer effectively in 25 years,” he mentioned. “Over the entire interval, we corrupted all data for all genres and all demographic movies and once again confirmed that we had a problem that provided without any requirement.”
Richards cited the success of films like “Inside Out 2” and “Deadpool & Wolverine” to prove that audiences have been expecting theatrical experience. He hopes that the on-site workplace in 2025 has “no substantial rise just now at the age of 24.” Richards predicts: “'26 and '27 will be extraordinary years, just trying out the absolute breadth of the movie that may be rolling out.”
The Chief welcomed the completion of the multiplexed chain Cineworld's currency restructuring, which shows that this allows the industry to display a web page. “It's tough for everyone. Everyone has had a tough time and Cineworld is actually the final process of finally coming and going through their own process,” Richards mentioned. “It’s a good thing to have them again, as the industry’s narrative can now change again, which is a good result rather than unhealthy information about restructuring and refinancing.”
The persistence consistent with the success of advanced codecs strengthens Richards' optimism. Vue is adding its luxury options and plans to launch a company’s Personal Premium Format (PLF) screen while maintaining current partnerships with IMAX and Dolby.
“We will be launching our personal PLF soon,” Richards said. “They will have a range of standards, which can be a very overdone habit…enhanced laser projectors with unimaginable Dolby Atmos sound program, very large screens with reclining seats.” The company recently opened a next-generation cinema in Swindon in U.Ok, which includes full-accent seats, IMAX display screens and new Lux Lux Premium seats with built-in wine coolers.
Vue has been an early adopter of AI knowledge, which has been in control of the films for almost 9 years. Richards mentioned: “AI determines how we perform in the cinema, on what screens are displayed and what time.” The system attributes the system to the system to explore buyer preferences across the European market. “So we play 50% of the extra movies than anyone on our main rivals, and 46% of all the movies we show in U.Ok. It's an overseas language movie,” Richards is known.
The chain also completely eliminated the franchise after Vue canceled the groundbreaking transfer of traditional on-site workplaces in 2003. “Our focus is on the journey we buyers enter seats from bus stops or parking areas. We are trying to remove the queues. We are trying to make the full process a little thrilling,” he mentioned. “Now, we offer our customers a larger lineup of retail merchandise, about 3 times as capable as we are behind the concession stands, and we are six to 12 months away from all Amazon-style checkouts.”
Vue's latest release growth through Vue Lumiere represents what Richards calls “the early days of turning the clock into the company again,” when it co-produced the film with Man Isle. Richards Richards Richards Richards Richards Richards introduced the company’s release of Italian films “There’s still a tomorrow,” inside U.Ok, so “we noticed there’s a niche, smaller justice films and foreign language films out there.”
“We want to have six to 12 movies a year, and our ultimate goal is to be on the street – not this year, most likely not the year that follows – once again taking root in our roots and starting to look at films that make smaller, unbiased.”
When asking for potential conflicts with different distributors, Richards stressed the collaboration: “We are not trying to compete with anyone. We just noticed a niche out there, and we are trying to really fill it up. We brought these movies for everyone, not just for Vue Prospects.”
Richards also expressed optimism about the relationship between exhibitors and studios improving relationships, while expressing the hope that streaming companies would embrace drama releases more widely, especially with reference to Netflix.
“Netflix has received some superb films, documentaries and TV shows. We want to point out all their content material on the screen,” Richards mentioned. “'Emilia Pérez' is an unimaginable movie worth watching on a huge display screen, sadly not. It has very limited small releases. For a movie that is so good, it deserves a wider global drama release.”
Regardless of the ongoing challenges in the exhibition panorama, Richards assured the future of the film: “I’m very optimistic about the way our business goes forward.”
