Cineplex CEO optimistic about movie biz despite writers’ strike, recession fears - BNN Bloomberg

“The box office is coming back,” Cineplex CEO Ellis Jacob said in a Friday television interview with BNN Bloomberg. “The optimism in the business has increased dramatically.”with a loss of $30.2 million or 48 cents per diluted share and total revenue of $341.0 million.

He pointed to the recent success of Amazon’s “Air,” which has been playing in cinemas before heading to the tech giant’s Prime Video streaming platform, as a sign that the emphasis on streaming releases has “subsided.” Based on his experience with past strikes, Jacob said it takes a long time for the effects to show up on his side of the movie business – and theatres have gotten a boost in attendance after the labour actions concluded.

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