Sunday, February 27, 2011

Cineworld 2011

Just listening to Radio 5's "On the Money" (27.2.11, 8-9pm) with Cineworld boss Steve Wiener interviewed on Oscar night. Some intersting insights:
  • whilst the 15-24 (and wider 15-34) demographic remains absolutely key, the fastest growing audience segment is 35-44
  • with this in mind, a spate of new cinemas (or at least sections in cinemas) will be rolled out across the Cineworld chain: deluxe cinemas with bigger, individual seats and luxury food for sale at cafe-style outlets in place of the popcorn concession stalls (he doesn't say so, but this must partially be in response to consistent complaints from non-teen cine-goers over texting/mobile-using youth spoiling the cine-experience!)
  • just as with £d - sorry, 3D... -  that handily creates an excuse for premium ticket prices!
  • Cineworld's shares are valued at around £300m
  • the majors have subsidised the cost of digital projectors and 3D projectors (Cineworld is spending £40m on digital projectors alone) - and have agreed to stick with the technology in use for a period of time in order to let cinema operators recoup the set-up costs
  • 65-70% of profits still come from ticket revenues; Wiener is adamant the profits from popcorn etc are overplayed
A second interviewee (from Pinewood Studios, recently bought by private equity investors, I think) discussed the major investment in studio facilities, with 3D cameras for hire and the old "The Bill" sets of police station/cells and hospital wards/operating rooms among the features.