Global cinema reopenings a healthy sign for Vista Group

by — October 22, 2020

Cinemas staff take precautions as movie theaters reopen in New Delhi, India this month. Seven months after screens went dark because of Covid-19, cinemas have reopened in much of India with mostly old titles on show.

The world’s struggling movie industry threw listed film solutions company Vista Group for a loop, but the company is now banking on cinema attendance returning to normal next year

Vista, which has about 300 staff in New Zealand and the equivalent overseas, makes almost all its revenue internationally.

But as Covid-19 fears shuttered movie theatres, and production houses and studios struggled to return to work, the company announced in June that it was making an unspecified number of job cuts.

In an update to the NZX, chief executive Kimbal Riley said between 70 per cent and 75 per cent of cinemas globally were open as of the end of September, providing ‘’areas of strong and consistent recovery’’.

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