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Cinemas hold breath as long-awaited blockbusters arrive soon

Big chains like Cineworld rely on blockbusters and snacks to bring in money, so the upcoming releases will be crucial for their path to recovery

Cineworld Group PLC - Cinemas breathe a sigh of relief as long-awaited blockbusters soon to come out
The latest James Bond has been postponed several times

Cineworld PLC (LON:CINE) said it is looking forward to the release of Cruella and A Quiet Place 2 next week as they are expected to draw customers to the screens. 

The cinema operator reported a bumper reopening weekend in the UK thanks to Peter Rabbit 2: The Runaway

READ: Cineworld reports better-than-expected reopening as film fans return 

Big chains like Cineworld and smaller rivals like Everyman Media Group PLC (LON:EMAN) rely on blockbusters and snacks to bring in money, so the hotly-anticipated releases this year will be crucial for their path to recovery. 

Many have been postponed during the pandemic, even when cinemas were open, over concerns viewers wouldn’t flock to cinemas in fear of catching the virus. 

In fact the latest James Bond film, No Time To Die, is now scheduled for release in September after being moved five times. 

Marvel’s Black Widow and Steven Spielberg’s West Side Story, which suffered a similar fate of repeated delays, are now earmarked for July and December respectively. 

Also on the calendar over the next weeks we have Disney’s Cruella, In the Heights, Fast and Furious instalment F9 and Space Jam: A New Legacy

“The cinema industry is celebrating the success of Fast & Furious 9 in China over the weekend, so Cineworld will be hoping that title will be also be a blockbuster hit once released in the UK and US in late June,” said AJ Bell investment director Russ Mould. 

“The success of the cinema is heavily dependent on the quality of the film slate and there aren’t that many big films lined up for release until later in the summer. This suggests Cineworld will still have to keep its fingers crossed that the past weekend’s trading boost wasn’t a one-off.” 

Shares in Cineworld rose 3% to 89.42p on Monday in the early afternoon, while Everyman was down 1% at 154.2p.

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