6/16/2023 0 Comments Among the hidden movie cinemark![]() Wold echoed the view that worries about Disney+ PVOD releases were overstated, arguing that the performance of Black Widow “demonstrates underlying theatrical demand.” Riley analyst Eric Wold similarly noted the issue of piracy in a report this week, writing: “We have already seen the significant impact on (and potential loss of) the China theatrical market given the ease of piracy with a day-and-date PVOD release.” “From what I have heard, the level of piracy amped up quite a bit with Black Widow, which also ate into box office numbers,” explains Handler.ī. Secondly, piracy could be a growing concern. Then there are unquantified payments which are being made to talent who have seen their points/bonus get cannibalized by PVOD.” The platform which consumers use (Apple, Amazon, Google etc.) all get about 15 percent. “It’s not true that Disney doesn’t have to share premium video on-demand revenue like it does with box office revenue. With regard to Black Widow, “I think there are a few factors which cinema bears are overlooking,” Handler says. What we are seeing right now with the cinema stocks isn’t all that different from what some of my other colleagues are seeing in restaurants and airlines.” “From there though I think the selloff is more macro-driven and related to rising Delta variant concerns. “I think early in the week the weakness had to do with the $60 million of premium VOD revenue for Black Widow, which increased the industry’s secular concerns,” Handler says. MKM Partners analyst Eric Handler also sees both factors weighing on cinema investors’ sentiment. Indeed, investors have of late been bidding up stocks of companies seen benefiting from an end of lockdowns and the reopening of the economy, but the more infectious virus mutant has raised questions about next steps. “There’s also been a major sell-off in the (COVID pandemic) ‘reopening’ names as well.” “I think the pullback is related to Disney’s success with the Disney+ viewers” of Black Widow, Macquarie analyst Chad Beynon tells The Hollywood Reporter, referring to Disney’s weekend disclosure of $60 million in Premier Access revenue for the movie. Box Office: 'The Little Mermaid' Swimming to $118M-Plus Memorial Day Debut
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