HONG KONG -- Despite a relatively successful summer at the boxoffice, led by Finding Nemo, Hong Kong cinema circuits are still laboring under the weight of heavy losses suffered during the outbreak of Severe Acute Respiratory Syndrome in trying to return to the kind of business generated a few years ago. "We're back to average levels, but this can't cover what we lost during SARS," said Tessa Lau, general manager of corporate development at Edko Films, which owns the 41-screen Broadway circuit. "The hole made by the outbreak is just too big." Said Bob Vallone, general manager of UA Cinemas: "We're still suffering from the effect of SARS. The fundamentals that make the business strong in Hong Kong are still weak."...
- 8/19/2003
- The Hollywood Reporter - Movie News
HONG KONG -- The downward slide of Hong Kong boxoffice grosses continues unabated as the SARS epidemic spreads. Since the outbreak last month of atypical pneumonia in Hong Kong, cinemas saw boxoffice grosses for March plunge 47% compared with the same period last year, the Hong Kong Theaters Assn. said at a press briefing Wednesday. Researchers on Wednesday identified the virus that causes the disease, which so far has killed 161 people worldwide, mostly in China and Hong Kong, and has sickened 3,293 people in 22 countries. Despite taking all necessary health precautions and offering free masks, cinema operators have not been able to attract filmgoers back into theaters. "These are unprecedented times", HKTA committee member Tessa Lau said. "Certain circuits are down almost 70%. Some cinemas with three screens are reporting only HK$300 ($38) a day." The situation has forced Hong Kong exhibitors to appeal to utility companies and landlords to lower service rates and rents.
- 4/17/2003
- The Hollywood Reporter - Movie News
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