Fade to black: The covid-19 pandemic of 2020 forced extended closure of more than 40,000 movie screens in 5,500 commercial movie theaters in America. It is a devastating blow to an industry already facing long-term structural competition from stream-at-home movie services. How will the industry sort itself out when theaters re-open? Here are the major players to watch.
AMC Entertainment, since its acquisition of Carmike Cinemas in 2016, owns 8,380 screens in more than 600 U.S. theaters. The company is a subsidiary of Chinese conglomerate Dalian Wanda, which is owned by Chinese tycoon Wang Jianlin. [ticker: AMC]
Cord-cutting continued in 2019 as U.S. consumers dropped pricey cable TV bundles in favor of internet-based TV and movie options. As the cable/broadband industry consolidates, three major players — Comcast, Charter and AT&T — now control most of America’s digital pipelines.
Subscribers to U.S. video and internet services (Q4 2019 or as noted)
Consumer Digital TV
Added 1.4 million internet customers in 2019; 9.9 million voice customers
9.4 million telephone subs
ATT (includes DIRECTV)
62.3 million consumer wireless devices; more than 4 million video subs lost from DIRECTV, AT&T U-verse, and AT&T TV NOW in 2019
94.5 million wireless customers
Q4-2019 estimates: about 4.6 million voice customers