The mega-opening gave a lift to shares in cinemas as they rebound from pandemic-era disruption.
Movie fans running to the cinemas over the weekend in record numbers for an animated pic had credit ratings agency Fitch touting the box office recovery for debt-laden movie chains looking to shrug off the impact of pandemic disruption on their debt servicing, even if getting back to pre-COVID 19 crisis credit ratings won’t happen soon.
“We expect theatrical attendance will continue to recover on sequential basis, driven by increased comfort in out-of-home environments, broader film slates accessing theatrical releases, including the return of video streaming studios into the theatrical release and distribution, growing on a mid-to-low single digits throughout the rating horizon,” Fitch said in a report on Monday.
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Shots Fired at Movie Theater During Argument Over Ride Payment: Chicago PoliceChicago police took two people into custody late Saturday after shots were fired inside a South Loop movie theater during an argument over payment for a Lyft ride, authorities said.
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