Morgan Stanley analyst Benjamin Swinburne issued a report this week in which he argues that the big studios should get serious about premium on-demand video and suggests that Hollywood release feature films to the home while they’re still showing in movie theatres.
Ymagis Group has announced the completion of the agreement to form its new exhibitor services company, CinemaNext North America, with Dallas-based CinTech. In accordance with the agreement signed in May, Ymagis Group holds a 75 percent stake in the company; CinTech the remaining 25 percent.
Entertainment payroll company Indiepay officially unveiled its rebrand today as GreenSlate with the launch of enhanced entertainment payroll and accounting software. Now, GreenSlate users have all-digital employee start-work capabilities, digital/mobile timecards, online purchase order management, and prepaid cards to replace petty cash.
Ymagis Group has reported its consolidated financial results for the first quarter of 2017, ending March 31. In a market where replacement sales have not yet significantly taken off and after a first quarter generally unrepresentative of annual business, revenue for Ymagis Group was down by 2.9 percent at €41.5 million over the first three months of 2017, mainly due to the effect of a scheduled reduction in VPF business and a temporary fall in equipment sales.
An estimated 991 million cinema tickets were sold in the 28 European Union member states in 2016. This is 13.3 million more than in 2015 and marks the highest level registered in the EU since 2004. Cumulative gross box office revenues measured in euros, however, declined slightly by 2.3 percent from 2015’s record high but remained above the €7 billion level for the second consecutive year amounting to an estimated €7.04 billion.
Ymagis today announced that it has been awarded the Tech 40 label, marking its entry into the EnterNext Tech 40 index.
Beekman Investment Partners, through an affiliate, has acquired select assets from AMC Entertainment and Carmike Cinemas and certain of their subsidiaries to create a movie theatre circuit of 16 locations across the U.S., with 184 screens and more than 500 employees.
Ymagis Group announced today that it has agreed with Dallas-based CinTech to form a new, full-service exhibitor services company in North America. Under the terms of the agreement and subject to the fulfillment of conditions precedent, a new company, CinemaNext North America, will be created with Ymagis Group acquiring a 75 percent stake and CinTech the remaining 25 percent. CinemaNext North America will be managed by industry veteran Stan Hays. Both parties intend to start operations during the second quarter of the year
Ymagis today reported its consolidated financial results for the 2016 fiscal year, ending December 31, 2016, as approved by the Group’s Board of Directors following its meeting April 4, 2017. In 2016, Ymagis Group maintained its strong growth momentum, reporting revenues up by +13 percent at €178.2 million, primarily due to the acquisition of businesses completed both in 2015 and 2016.
The European Audiovisual Observatory is focusing on the impact of video-on-demand on the film value chain in this year’s Cannes conference. This year’s topic Is VoD growing the film pie its impact on the film ecosystem. The discussion will take place May 20.
