LSR MEXICO REPORT

Will March bring the reopening of movie theaters Mexico Valley?

La Canacine assures that it already has the endorsement of the authorities, but the official announcement is expected this Friday, February 26

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  • 25/02/2021
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Will March bring the reopening of movie theaters Mexico Valley?
The authorities of the Valley of Mexico, said Canacine, have allowed movie theaters to reopen after a new closure last December. (Cuartoscuro)

The state cinemas and Mexico City will reopen from next Monday, March 1. However, the sector would prefer that it be allowed from this Friday the 26th to take advantage of the weekend's influx, said the National Chamber of the Cinematographic Industry (Canacine), given the drop in the level of hospitalizations for covid-19 in the region.

The authorities of the Valley of Mexico, said Canacine, have allowed movie theaters to reopen after a new closure last December. According to Grupo Milenio's information, after having to close at the beginning of the pandemic, they had reopened in August; however, an official announcement is still expected.

In the past 11 months, according to data from Conacine, the sector sold 15.6 million tickets in the country, that is, 334 million fewer tickets that translate into a loss of 18 thousand 407 million pesos.

Movie theaters generate around 150 thousand jobs indirectly and 50 thousand families directly, he added.

At the national level, 39.2% of theaters have reopened. That is, 38.7% of all theaters are active.

CINEMA IN CRISIS

At the beginning of the month, Cinépolis and Cinemex announced the temporary closure of complexes in different states of the country due to Mexico's economic and health crisis.

The states in which cinemas present complications are Puebla, Guanajuato, Jalisco, Durango, Chiapas and Querétaro.

Cinemex, owned by the Larrea family, decided to close 145 cinemas outside the capital area until Hollywood resumes the premieres of significant movies, and the company can operate without severe restrictions, he said.

The chain's debt includes a term loan of 4,050 million pesos (202.6 million dollars) and a term loan of 640 million pesos, both maturing in March 2023.