Cineworld


Cineworld is the world’s second largest cinema chain, with 9,518 screens across 790 sites in 11 countries: the UK, the US, Canada, Ireland, Poland, Romania, Israel, Hungary, Czechia, Bulgaria and Slovakia. The group’s primary brands are Regal, Cineworld and Picturehouse, Cinema City and Yes Planet.
As of March 2018, Cineworld was the leading cinema operator in the UK by box office market share, with 99 cinemas and over 1,017 screens, including Ireland’s single largest multiplex by screens and customer base. Cineworld Glasgow Renfrew Street is the tallest cinema in the world and the busiest, by customer base, in the UK. The Cineworld site with the greatest number of screens is located at Valley Centertainment in Sheffield, which has 20. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
In March 2020, Cineworld and all other cinemas in the UK closed until further notice due to the 2019-20 coronavirus outbreak.

History

Cineworld was founded by Steve Wiener in 1995. The first Cineworld theatre opened in Stevenage, Hertfordshire in July 1996. A second theatre opened in Wakefield, West Yorkshire, in December 1996 and the third opened in Shrewsbury, Shropshire, in 1998. In 2004, Cineworld was acquired by Blackstone private equity group for £120m. The following year, Cineworld acquired the UK and Ireland operations of French cinema company UGC.
In December 2012, Cineworld acquired the Picturehouse Cinema chain, adding 21 cinemas to its portfolio, including The Little Theatre in Bath, Brighton’s Duke of York’s cinema, the Cameo, Edinburgh, the Phoenix in Oxford and the Ritzy Cinema in Brixton.
The Blackstone Group, which had invested in Cineworld when it was privately owned, sold its entire remaining 20% shareholding in November 2010. In August 2013, The Guardian revealed that Cineworld employs 80% of its 4,300 staff on zero hour contracts. In October 2013, the Chester location was closed due to the landowner wanting to develop the land into a supermarket.
In 2014 Cineworld's Picturehouse chain was subject to industrial action owing to its refusal to pay the London living wage to its staff. The workforce attracted the support of Eric Cantona. On 27 February 2014 Cineworld completed the takeover of Cinema City International N.V.. As of March 2015, the Greidinger family held a controlling bloc as the largest shareholders in the enlarged company.
In May 2014, Mooky Greidinger joined the board of directors as CEO, having previously been CEO of Cinema City International.
In 2015, Picturehouse unveiled their new West End flagship site, ‘Picturehouse Central’, a 1,000 seat, seven-screen cinema on Shaftesbury Avenue near Piccadilly Circus in central London. In August 2016 Cineworld acquired six cinemas from Empire Cinemas, including the Empire Theatre in London's West End, and 4 other locations in Basildon, Poole, Bromley and Hemel Hempstead. Empire Newcastle was also acquired by Cineworld the following year.
In November 2017, Cineworld began merger talks with the US theater chain Regal Cinemas. On 5 December, it was officially announced that Cineworld would buy Regal for US$3.6 billion, creating the world's second largest cinema group. It would also allow Cineworld access to the US market, the largest in the world. The acquisition was completed in 2018.
In 2018, a record 308 million people attended Cineworld movie theaters, creating a 7.2 percent increase in revenue.
In March 2019, Cineworld and Eagle Pictures invested in Spyglass Media Group.
On 16 December 2019, Cineworld announced its proposed acquisition of Cineplex Entertainment—Canada's largest cinema chain—for approximately US$2.1 billion. Cineworld plans to integrate its operations with Regal to achieve cost and revenue synergies. This will make it North America's largest cinema chain which was formerly held by Loews Cineplex Entertainment. The deal was approved by shareholders in February 2020. The name Cineplex would continue for the Canadian operation, according to CEO Moshe Greidinger. A news report on 12 June 2020, however, indicated that Cineworld would terminate the purchase agreement due to alleged "material adverse effect and breaches" by Cineplex.
On March 17, 2020, Cineworld and all other cinema companies in the UK temporarily closed their UK theaters due to the ongoing COVID-19 pandemic.Some 800 staff at Cineworld Group PLC wrote to Chief Executive Moshe Greidinger requesting their jobs back after many were made redundant, “with immediate effect”. Employees with over three years of service were told they would be retained with 40% of their salary or average pay. The letter said the move would leave many of the affected unable to afford essentials such as housing and food. In late May 2020, Cineworld announced they planned to reopen all its UK cinemas in July.
In May 2020, Alicja Kornasiewicz became chair, having been a non-executive director since May 2015.

Cinemas

Across the Cineworld estate there are seven different ways in which their customers can watch a movie: 2D, 3D, 4DX, IMAX, Superscreen, VIP and ScreenX. Prices are set according to the format the customer chooses, and not the movie they choose. As of April 2018, across the European estate there are 38 4DX screens, 35 IMAX screens and 12 VIP auditoriums. Out of 45 cinemas in the world that are fitted with IMAX with Laser projection systems, two are in the UK, both belonging to Cineworld, located in Leicester Square and Sheffield. In April 2018, IMAX And Cineworld Group signed an agreement to install 55 new IMAX with Laser experience in Cineworld and Regal IMAX locations.
In 2012, Cineworld began a trial of a premium service, The Screening Rooms. Located next to the Cheltenham cinema, The Screening Rooms offers considerably larger, leather seating, premium food, and 'table' service.
Cineworld was the only cinema chain in the United Kingdom to operate a 'strict no food and drink policy' on items that have been bought elsewhere, but in November 2012 the food policy was changed and now states that "neither alcohol nor hot food may be brought onto the premises". In early 2014, Cineworld introduced an allocated seating system, starting as a trial in selected sites including Wembley and rolling out to all their cinemas by the summer. The move was controversial and a Twitter campaign was created against this policy. Cineworld have responded to the criticism stating that it gives customers peace of mind along with other benefits.
Cineworld continues to expand and enhance their estate, with an extensive ongoing build and refurbishment programme. In 2017, the company opened nine new cinema locations with a total of 109 screens; four of which were in the UK and five in the rest of Europe. A further 75 screens were scheduled to open in 2018 in addition. Throughout 2018 the company opened 13 new locations with 108 screens in total, six in the United States, six in the United Kingdom and one in Romania.