Paramount recently reached a deal with AMC Theaters and Cineplex to substantially cut the time it takes for certain movies to get from theaters to home viewing formats, while Netflix has eliminated the wait time completely in some cases — much to the ire of many theater owners. As far as Zoradi is concerned, though, there’s no need to follow suit.
“The arrangement is working well,” said Zoradi, according to Variety. He’s apparently so comfortable with Cinemark’s current system that he hadn’t even read Paramount’s proposal. It’s hard to blame him, given that the company is reportedly on track to potentially have a record year. “I’ve never seen a brighter time to be in this business,” he added.
Although streaming is often seen as a threat to theaters, it turns out it may actually be helping them. Now that DVD sales have plummeted, Zoradi argued that “what studios are realizing is how important theatrical is in both the profit and revenue part of the equation.” With that being the case, companies like Cinemark are by no means at the mercy of studios.
Zoradi is willing to make changes in some areas, however. He shared that the company plans to explore alternative content, like opera, theatrical events, video games, and more. Cinemark may plan to keep us waiting, but at least it will try to entertain us while it does it.
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