Tag: demand

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Business

Health corporations see surge in demand as Individuals rush to lose Covid weight

Fitness companies see surge in demand as Americans rush to lose Covid weight

The economy opens up again quickly. Restaurants, sports arenas, and even offices are filling up again as pandemic restrictions are lifted. And that means a lot of people who have been confiscated from their homes in the past year are heading out even if they don’t look exactly alike.

The stressful and sedentary nature of life during the coronavirus pandemic caused many to drop out of their fitness routines and gain weight. According to a recent survey by the American Psychological Association, 42% of adults in the United States reported unwanted weight gain due to Covid. Average gain: 29 pounds.

“Sourdough bread was fun making. Banana bread was fun making, but the result is not great,” said Jim Rowley, CEO of Crunch Worldwide.

On the flip side, 18% reported unwanted weight loss, possibly due in part to muscle loss from all that sitting around. It’s no wonder, profit or loss, that fitness companies are suddenly seeing a new surge in activity.

“We now have a lot of people who haven’t seen us over the winter who are ready and realizing this is a long time coming,” said Lucy Ballentine, gym manager at Orangetheory Fitness in Washington, DC I told her, “It It’s been over a year since I’ve done any kind of training and I’m really desperate to get back in shape. “

An employee wearing a protective mask disinfects a treadmill between classes at an Orange Theory gym in Atlanta, Georgia, United States on Wednesday, May 27, 2020.

Elijah Nouvelage | Bloomberg | Getty Images

While the demand for home fitness has spiked over the past year, benefiting big names like Peloton, Beachbody, and The Mirror, the urge to get back in shape is now clearly felt as Americans come out of hiding.

That was the overwhelming feeling of an outdoor orange theory class in a DC parking lot.

“Do you think I have to go back to the closet that I no longer fit? Yes,” said Stacey Weinstock, who has been working from home since the pandemic began.

“We’re getting a little closer to where everything will open up, and we want to do our best and feel our best,” Rachel Robins said as she prepared for class.

Both gyms and streaming fitness companies are suddenly seeing a surge in new demand and overall workout. Nationwide Orange Theory memberships rose 17% in the first quarter of this year, with the biggest jump in March, up 9%.

Crunch reports that member visits in March were up 30% compared to February. Despite having a huge presence in major cities that still have severe gym restrictions, such as New York, Los Angeles, and San Francisco, the company had its strongest new member sales in a year.

“We predict the big boom will be in September when we’re through the summer and the kids are back to school. It’s normal for businesses to reopen, especially in urban centers like Manhattan and San Francisco,” Rowley said.

According to Barry’s Bootcamp, the number of studio goers in March increased 31% from February and 48% from January. The new streaming workouts are also available.

The presence in the class is increasing thanks to relaxed restrictions and increased vaccinations.

“I feel more comfortable being closer to people and sharing air with people after I’m vaccinated,” said Rachel Weiss, another client at Orangetheory.

A person works out on an elliptical trainer at a crunch gym in Burbank, California, the United States, on Tuesday, June 23, 2020.

Patrick T. Fallon | Bloomberg | Getty Images

However, that doesn’t necessarily mean an end to the new boom in streaming and home fitness. Crunch, for example, has been streaming for more than a decade.

“I can tell you that during the shutdown we spent money improving our lighting, sound, camera, and digital presence,” said Rowley, who argues that those who focus on fitness always have multiple options have used. “They were the first to buy the thigh master, the Ab Cruncher. So it’s not unique to say, ‘Oh, I have a gym membership and a peloton.'”

Peloton, which has seen phenomenal growth in its streaming fitness platform and bike and treadmill sales over the past year, doesn’t seem to be losing steam right now. While the publicly traded company wouldn’t release the latest numbers on streamed workouts, CEO John Foley recently said he wasn’t worried about a return to the gym.

“I can commit to hypergrowth,” said Foley. “What we’re seeing is a shift in which people want to exercise at home … it’s the future of fitness, Covid or not.”

Cari Gundee rides her peloton exercise bike at her home in San Anselmo, California on April 6, 2020.

Ezra Shaw | Getty Images

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Health

Psychological well being professionals are in excessive demand because the pandemic enters a second yr

Mental health professionals are in high demand as the pandemic enters a second year

Coronavirus has rocked the nation with a year of restrictions, bans, missed meetings and events, isolation, and a staggering loss of more than half a million Americans. As the pandemic extends for a second year, Americans struggling with increased rates of depression, anxiety, and insomnia are seeking mental health support, and providers are working hard to keep up with demand.

When the pandemic first started, Dr. Mary Alvord that there was an almost instant increase in those seeking treatment for anxiety and depression. Alvord is a psychologist and director of Alvord, Baker & Associates in Rockville, Maryland, a group of 19 clinicians primarily focused on children, adolescents and families.

“I think everyone was just in a state of disbelief that this was going on so quickly and so dramatically,” said Alvord. “That first rush was fear of the daily uncertainty of not knowing what was going to happen [regarding] the pandemic. And I think it led to a lot of sadness. “

Psychologists like Alvord report that they have seen more patients with anxiety and depression in the past year, and most say they treat patients remotely via telemedicine. Last fall, a third of psychologists said they saw more patients since the pandemic began, according to the American Psychological Association (APA).

Among psychologists treating anxiety disorders, nearly three-quarters of those surveyed by APA reported an increase in demand for treatment, while 60% of patients treating depression saw an increase. A similar increase in demand for treatments for traumatic and stress-related disorders and sleep-wake disorders has also been reported.

“We had a waiting list of about 187 people,” said Alvord. “We seem to take it down and then we go up again.”

Telemedicine use has expanded thanks to states-issued emergency directives to improve access to services during the pandemic, the APA said. The Centers for Medicare and Medicaid have also revised the rules to allow for expanded services via telemedicine. The group is pushing for this access to continue for at least six months after the federal government declares the pandemic is over.

There are still many barriers to treatment, including the number of mental health professionals available, cost, scarring, and time, but the expansion of telehealth has improved access to care for many.

“You can see a therapist in your own home, you don’t have to rely on transportation or childcare. I think that helps having access to it once you’re under treatment. But we still have a pretty big problem with the health system with having enough providers for the people who need them, “says Dr. Vaile Wright, Senior Director, Healthcare Innovation at APA.

However, Wright noted that the shortage of healthcare professionals was a long-standing problem prior to the pandemic. “Even if we do things like lower the retirement age or increase the workforce, we will never meet everyone’s needs,” he said.

The pandemic may have fueled the growth of telehealth services, but the course is expected to continue. According to financial data firm PitchBook, the global telemedicine market beyond therapy is expected to reach $ 312 billion by 2026, more than quadrupling from 2019 levels. A total of $ 1.8 billion was invested in virtual health companies in 2020, including Doctor on Demand and MDLive, both of which offer virtual therapies, PitchBook analysis shows.

Frontline health workers, parents of children under the age of 18, and fathers – more than mothers – have been seeking treatment lately, according to the APA. It’s too early to tell if those who sought treatment during the pandemic will continue to have access to care once life returns to normal, but advanced telehealth could help.

“I think the convenience consumers expect will encourage them to stay in treatment rather than having to come back in person. So that’s going to be a big component,” Wright said. “I also think that if individuals are unable to manage the stress they are experiencing, we will have long-term mental health consequences.”

In particular, Wright noted that key workers – including frontline healthcare workers – are most vulnerable to parents with children under 18, people from color communities, and younger adults with high levels of stress and stress.

Alvord of Alvord, Baker & Associates is also committed to expanding telehealth and has trained 10,000 mental health professionals on how to do this effectively and ethically over the past year. One silver lining for the extreme challenges facing the world over the past year is that the conversation about mental health has come to the fore.

“We’re all in it together, so the message is, ‘You are not alone,'” she said. “The mental health stigma has really gone because it’s okay not to be okay. There are normal levels of stress that is a part of life and the grief and loss and sadness that come with it.”

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Business

GM’s first-quarter gross sales up 3.9% on robust client demand

GM's first-quarter sales up 3.9% on strong consumer demand

A customer looks at a General Motors Co. Chevrolet vehicle on sale at a Colma, Calif. Car dealership on Monday, February 8, 2021.

David Paul Morris | Bloomberg | Getty Images

DETROIT – General Motors’ vehicle sales were driven by strong consumer demand in the first quarter as fleet sales cratered and a persistent shortage of semiconductor chips shut down some assembly plants.

The Detroit-based automaker announced Thursday that it had sold 642,250 vehicles in the first three months of the year, up 3.9% year over year when Covid-19 began forcing dealerships and auto plants to close in March .

GM and the majority of the other major automakers in the US are expected to report first-quarter sales on Thursday. Analysts expect sales across the industry to grow 8% or 9% compared to the first quarter of 2020.

According to GM, retail sales to individual consumers rose 19% in the first quarter, while fleet sales to corporate and government customers declined 35% year over year. The automaker expects consumer demand to remain stable this year.

“Consumer confidence and spending will continue to rise due to incentives, rising vaccination rates and the gradual reopening of the economy,” said Elaine Buckberg, GM’s chief economist, in a press release. “Demand for automobiles should remain strong all year round.”

GM’s Buick, Cadillac, and GMC brands saw double-digit sales increases in the first quarter, while Chevrolet – the largest brand – fell 1.7%. Chevrolet’s decline was due to a 12.5% ​​decline in sales of Silverado vans.

Hyundai’s record month

Automakers that are less reliant on fleet sales in the US saw larger gains than GM in the first quarter. These include: Volkswagen, up 21%; Toyota Motor, up 21.6%; Hyundai Motor, up 28%; and Kia Motors by 22.8%.

Hyundai’s sales were particularly impressive. For the quarter, the South Korean automaker’s results relied on a 38% increase in retail sales, including the best monthly retail and total sales ever in March.

“We had a great month. I mean, almost unexpected all-time records,” said Jose Munoz, CEO of Hyundai North America, on CNBC’s “Squawk on the Street” on Thursday. “I have to be optimistic, but there are a lot of challenges in the automotive industry these days.”

Ford, America’s second largest automaker after GM in the US, won’t report its first-quarter domestic sales until Monday.

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Business

Gasoline demand rebounds to almost regular March ranges, in accordance with newest GasBuddy knowledge

Gasoline demand rebounds to nearly normal March levels, according to latest GasBuddy data

A customer refuels a vehicle at a gas station in Peoria, Illinois.

Daniel Acker | Bloomberg | Getty Images

U.S. gasoline demand is nearing normal levels as Americans took to the streets again amid the economic recovery and the introduction of the Covid-19 vaccine.

Demand is almost at the normal March level and continues to rise according to the latest data from GasBuddy. Thursday demand was 17.5% higher than the average for the four previous Thursdays.

“There has been an impressive rebound in demand over the past few weeks and I continue to be surprised every day,” noted Patrick De Haan, Head of Petroleum Analysis at GasBuddy.

Except for one Sunday, every day since February 20th has seen positive percentage growth. There are, of course, many factors that drive gas demand. One of them could be people driving long distances for Covid-19 vaccines. The spring break could also be a driving force.

Nevertheless, the trend shows an upward trend.

“It’s still March, which means the economy is recovering and we’re approaching summer. All the signs point to higher demand than I think almost everyone expected just a few months ago,” added De Haan.

Source: GasBuddy

The graph above shows the recovery in demand. It compares daily gas mileage to February 2020, which was just before the US stalled.

The data showed that demand last Thursday was 1.8% higher than last Thursday before the Covid lockdown took effect in 2020. However, the data is not seasonally adjusted and February tends to be the weakest month for gas demand .

More consumers on the street combined with a decline in gasoline supplies have pushed prices up.

“On average, Americans pay 14% more to refuel than in February,” said Jeanette McGee, AAA spokeswoman, in a statement on Monday. “Given the increased demand and the tighter gasoline supply, we expect more expensive pump prices with little relief in the coming weeks.”

On Friday, the national average for a gallon of gasoline, according to the AAA, was $ 2.886, up 69 cents or 31.4% year over year.

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Business

Boat reveals are again and drawing large crowds amid strong demand

Boat shows are back and drawing big crowds amid robust demand

Queen of the Show from the Orlando Boat Show.

Source: Marine Industry Association of Central Florida (MIACF)

Boat shows are back!

For both new and avid boaters, boat shows are one of the most important ways customers connect with the boat market. Last year, many events were canceled by the pandemic and organizers turned to online platforms instead. However, personal events are experiencing a revival, giving visitors the opportunity to discover a variety of boat types, sizes, brands, and additional equipment.

As the boat shows return, organizers find they are attracting more than expected crowds. The trend could reflect the strong demand for boats that the industry has seen over the past year. In 2020, boat, ship product and service sales hit a 13-year high of $ 47 billion as people flocked to the water to safely enjoy the outdoors.

The Orlando Boat Show held a personal indoor event earlier this month after a year-long hiatus due to Covid concerns. The event, attended by 21 dealers and more than 70 manufacturers, drew the largest crowd in a decade. According to a press release, attendance increased 66% compared to the event in 2019.

David Ray, executive director of the Central Florida Marine Industry Association, which hosted the event, said the group was stunned by its success as it expected a 20% to 25% decline in 2019.

“This was the best show we’ve ever had,” said Glenn Adams, the yacht and ship broker for Boat Max USA, who attended the event. “We were expecting fewer visitors than our first show in a showroom in over a year, but this was not the case.”

The event had over 500 boats to choose from, and sales at the event exceeded dealer expectations, Ray said. He wouldn’t reveal any specific sales data.

15 shows are scheduled to take place this year, only two of which are virtual, including the Seattle Boat Show, according to DiscoverBoating.com.

The Seattle Boat Show took place in January with 218 business partners. The four day online event consisted of live and recorded seminars on boating and fishing. Usually their personal shows showed over 1,000 boats while their virtual event could only show around 600.

More than 5,200 households have paid to take part in the online show. By comparison, the 2020 in-person event drew more than 45,000 people.

George Harris, president and CEO of the Northwest Marine Trade Association, the organizer of the event, said virtual events will never replace the experience of a personal boat show.

“A boat is an emotional purchase for people. They want to see it, they want to touch it, they want to smell it,” Harris said in an interview. He said he hoped they could hold a face-to-face event next year.

The National Marine Manufacturer’s Association, the largest boat show manufacturer in the country, has canceled its winter and spring shows this year due to the pandemic. However, most of their shows took place last year before Covid hit in March, association spokeswoman Sarah Salvatori told CNBC in an email.

The boat show season usually takes place in the fall and winter to prepare boaters for the high season in the warmer months of spring and summer.

In a research report, Jefferies analyst Randal Konik said recent channel checks showed that consumer appetite for boats remains high. Traders are pledging to buy inventory and internet traffic trends are still growing faster than they were before the pandemic.

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Business

Demand for composite decking is rising due to a DIY boon, Trex CEO says

Demand for composite decking is rising thanks to a DIY boon, Trex CEO says

Bryan Fairbanks, CEO of Trex, told CNBC on Friday that sales for the company’s alternative wood products rose during the Covid-19 pandemic as consumers embark on more home improvement projects.

In addition to increasing demand for composite decks from homeowners, the manufacturer has increased capacity and lowered prices to make its products more affordable, Fairbanks said in a “Mad Money” appearance.

“People are really starting to understand what the long-term cost of owning a wooden deck will be,” he told CNBC’s Jim Cramer. “Another thing that we see significant traction in is people who want to make the green choice.”

The housewares and remodeling markets benefited from increased interest in home improvement and outdoor living projects during the pandemic as residents found new ways to stay busy amid lockdowns and travel restrictions over the past year.

In the final quarter of 2020 – which is typically slower for the company due to a decline in construction – Trex’s residential product sales grew 40% year over year.

Fairbanks found that many customers find their way to Trex when looking for more sustainable materials to use on their DIY projects. He added that the company’s decks are 95% made from recycled material, as opposed to the environmental impact of pressure treated wood, which is high in chemicals.

While Trex competes with Azek on alternative wood surfaces, the company is focused on disrupting wood, which accounts for around 78% of the total market, he added. North America has an installation base of 40 million wooden decks, he said.

“There is absolutely a lot of space in the market,” Fairbanks said when asked about composites competition. “As we continue to grow as an organization, we are aiming for the largest segment of the market that is under pressure [wood]is very important to us and we look forward to this opportunity. “

Trex’s total revenue rose 18% to $ 881 million in 2020, the company said in late February. This is double the revenue growth rate that Trex saw in 2019. The company expects further double-digit sales growth in 2021, but did not give a forecast for the full year.

The shares of the $ 10 billion company rose 3.6% to $ 88.24 on Friday, breaking a three-day streak of bad luck.

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Business

Airways altering enterprise to reply post-pandemic demand for holidays

Airlines changing business to answer post-pandemic demand for holidays

A picture taken on February 28, 2021 shows palm trees on the empty “Promenade des Anglais” in Nice on the French Riviera.

VALERY HACHE | AFP | Getty Images

LONDON – Airlines in Europe see sunshine and beaches as their way to make money again.

The sector has been badly hit by the coronavirus pandemic and people have been advised to stay home. Lufthansa announced on Thursday that the number of passengers had decreased by 75% between 2019 and 2020. This underscores the devastating impact many airlines have had since the Covid hit.

However, they are currently examining ways to adjust business models as economies seek to reopen in the coming months.

“European airlines will focus on vacation travel,” Adrian Yanoshik, a stock analyst at Berenberg, told CNBC on Wednesday. “This is a tactical answer. You follow the flow of people,” he said.

Given the easing of restrictions in European economies, people are expected to try to go on vacation as soon as possible after about a year at home. In contrast, it takes longer for business trips to recover.

I think we’ll see a little less business travel and more vacation travel.

Rickard Gustafson

CEO of Scandinavian Airlines

“Will I be making the one-day trip from London to New York for a three-hour meeting? Probably not, so this will have some impact on business travel,” Keith Barr, CEO of IHG Hotels & Resorts, told CNBC’s “Squawk” Box Europe “last Month.

Rickard Gustafson, CEO of Scandinavian Airlines, also expects “some significant changes in the dynamics of the (airline) market”.

“I think we’ll see a little less business travel and more vacation travel,” he told CNBC. “We have to adapt our operations more to the seasonality than we do today,” he added.

Low-cost airlines like Ryanair and easyJet have always tempted customers to take breaks in sunny European destinations like Greece, Spain and Italy. However, more airlines such as Lufthansa and British Airways, which traditionally cater to those who travel for work, could do the same.

“Business travel will be above 2019 levels by the end of the decade,” Stephen Furlong, senior analyst at wealth management firm Davy, told CNBC on the phone, adding that vacation travel, on the other hand, could snap back “very quickly”.

Another mix of cabins

Business travel has led airlines to develop business class, premium seats and loyalty cards. However, as part of a new focus on leisure, analysts expect a different aircraft layout.

“You will get a cabin reconfiguration,” said Furlong, mentioning that business class will be a much smaller part of the aircraft. “The size of the plane is (also) smaller,” he added.

When you consider how low-cost airlines have traditionally organized their aircraft, the focus is far less on premium customers. In fact, for example, Ryanair does not have a frequent flyer loyalty card.

People sit on the “Castel” beach along the “Promenade des Anglais” on the French Riviera in Nice, southern France.

VALERY HACHE | AFP | Getty Images

“This is probably a temporary phenomenon. You will focus on business (travel) again,” said Yanoshik from Berenberg.

However, as more airlines focus on vacation travel in the short to medium term, he added that ticket prices “will be weak”.

Vaccination records

European airlines hope vaccine passports will be used to restore lost businesses this year.

The idea of ​​a vaccination pass is still debated by European politicians, but the travel industry sees it as a must that some trips can return during this summer season.

“IATA is pushing extremely hard within the industry,” Andrew Lobbenberg, equity analyst at HSBC, told CNBC.

The International Air Transport Association is currently working on a passport, a digital platform where passengers can upload their health information. She has asked the EU heads of state and government to introduce vaccination records so that customers can feel safe again.

Vaccination records “will be part of the reopening of air traffic,” said Lobbenberg.

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Business

Lydall CEO sees demand growth for its filtration materials past pandemic

Lydall CEO sees demand boom for its filtration material beyond pandemic

Sara Greenstein, CEO of Lydall, told CNBC’s Jim Cramer on Friday that the company is working with the White House in Biden to replenish the national supply of personal protective equipment and she expects the demand for specialty filtration products to grow beyond the pandemic will be.

Based in Manchester, Connecticut, the company manufactures specialty filtration material used in N95 respirators and surgical masks. These products are especially important to the healthcare sector and frontline workers during a health crisis.

Greenstein said in a “Mad Money” interview that President Joe Biden’s administration is “making active efforts” to build a strategic supply.

As part of his first steps after taking office last month, President Joe Biden invoked the Defense Production Act to strengthen supply chains for PPE and replenish US inventories. Lydall won a $ 13.5 million federal contract last summer under the previous administration to increase domestic production of meltblown air filtration media, a fabric component in N95 respirators made to protect against germs.

The company expanded capacity to meet demand for materials, with one line running at full capacity and selling out “for the foreseeable future,” Greenstein said. Two more lines should be in operation by the third quarter, she said.

The increased production allows Lydall to make enough material to make 140 million N95 masks a month, up from about 21 million a month about a year ago. The company has announced that the US will require approximately 2 billion breathing apparatus per year. The demand for surgical masks and other consumer masks is expected to remain elevated beyond the pandemic.

“We assume that national inventories around the world, including here in the US, will need to be rebuilt and replenished, which is why we expect strong demand for well-made PPE at least until the end of 2022,” said Greenstein.

Lydall is also a provider of thermal and acoustic products, including for building and auto end markets. The 150-year-old company, with sales of $ 622 million, had sales of $ 764 million in 2020, a decrease of nearly 9% year over year.

PPE manufacturing was Lydall’s primary focus last year, but indoor and outdoor air quality products will be a major driver of post-pandemic business, as it was before Covid-19.

Specialty filtration is a key component of the growing indoor air quality market, and a move to higher efficiency filtration is only expected to accelerate as new and stricter standards are introduced around the world, Greenstein said.

Bringing their employees back to the office alone will create an estimated $ 3 billion market alone, Greenstein said, adding that another $ 15 billion market will emerge as buildings get new codes.

“The demand for higher performing specialty filtration solutions will eclipse the demand we see today for PPE,” she said.

Prior to the coronavirus pandemic, Lydall sales rose double digits in 2017 and 2018 before rising 6.6% to $ 837.40 million in 2019. The company had net income of more than $ 70 million for the past two years, but had net income of at least $ 20 million going back to 2014.

Lydall stock rose 4% on Friday to $ 34.83 at close of trading. The stock is up 16% in the first two months of the year and has expanded its earnings after rising 46% last year.

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Business

China box-office file reveals international pent-up demand for films

China box-office record reveals global pent-up demand for movies

Imax broke its box office records over the weekend of the New Year celebrations in China and the results predict what will happen when more US theaters resume operations this summer, CEO Rich Gelfond told CNBC on Tuesday.

The company, which produces immersive movie experiences, said it grossed $ 25 million between Friday and Sunday, up 45% from its pre-pandemic record.

“It tells you [that] If it’s safe to go outside and people want to go, run to the movies, “said Gelfond, who appeared on Closing Bell after the deal on Wall Street ended.

Detective Chinatown 3, a comedy adventure postponed from the release of Lunar New Year last year, captured a large portion of Imax ticket sales during the three-day period. The film grossed $ 23.5 million, the best results Imax has ever seen for a Chinese film. The action films “A Writer’s Odyssey” and “New Gods: Nezha Reborn” have also helped Imax hit both gross admissions and gross sales highs.

Coming from the news, Imax shares rose more than 6% on Tuesday, the best day since November. The stock closed at $ 19.85, up more than 5% after hours.

Imax took in more than 1 million people in cinemas in China on Friday, the best one-day attendance ever recorded. The results come despite capacity constraints that persist in entertainment businesses in China. The $ 25 million Imax brought in at the box office was better than the comparable opening week of 2019 that preceded the coronavirus pandemic.

Most theaters in China have a 75% capacity limit, while parts of the country with higher broadcasts of Covid-19 are limited to 50%. US theater restrictions vary by state. Limitations range from 25% capacity in Minnesota to 50% in Indiana to 100% in Alaska. This is based on data held by the National Association of Theater Owners.

The seven-day New Year holiday ends on Wednesday. Theaters in China closed around this time last year when the country shut down in response to the fast-spreading virus discovered in Wuhan city, Hubei province in late 2019.

The movie frenzy was fueled by China’s traditional travel season, which has largely been suspended due to coronavirus restrictions. Millions of time spent in the cinema with scrapped travel plans.

Gelfond said Imax expected strong participation in China over the weekend.

“I think the only thing you can say is the pent-up demand that people just get tired of sitting on their couches and watching streaming or whatever else they’ve been doing,” he said. “I think they are just happy to get out and I think that gives the rest of the world a guess.”

In the midst of the pandemic, Imax’s 2020 sales fell 74% from the first three quarters of last year through September. The company is expected to report fourth quarter and full year 2020 performance next month.

Gelfond said in December that the release of US films in 2021, including a number of films postponed from first releases last year, would be an “embarrassment of fortune” for Imax if the country’s theaters closed Should be opened at the beginning of the year.

According to the online ticketing platform Maoyan Entertainment, mainland China posted holiday week sales of 6.77 billion yuan, or $ 1.05 billion, on Tuesday. That figure surpassed the record 5.9 billion yuan in the same period of 2019.

Since the theaters reopened in June, box office revenues have increased. Coronavirus cases have declined sharply in countries like China, Australia and South Korea, and movie ticket sales have increased.

Global movie ticket sales decreased 70% year over year in 2020. Ticket sales in the Asia-Pacific region accounted for approximately 51% of global sales, up from 41% in 2019, based on information from Comscore and Gower Street. The US and Canadian box office sales accounted for just 18% of sales in 2020, compared to 30% in 2019.

– Reuters contributed to this report.

Categories
Entertainment

‘Cowboys’ Assessment: Abduction on Demand, by Horseback

‘Cowboys’ Review: Abduction on Demand, by Horseback

The crisis for the couple at the heart of “Cowboys” begins when their son Joe (Sasha Knight) expresses his desire for a transition.

In this western-themed family drama, dad Troy (Steve Zahn) likes to acknowledge his son’s identity, but Troy’s diffuse sweetness makes it difficult for his wife Sally (Jillian Bell) to see his support as anything other than enjoyment. At home, Sally enforces girlhood, and she wins custody if she and Troy split up.

Joe asks his father to take him with him. In response, Troy steals his son from home and leads him into the woods on horseback. The legal term for Troy’s actions is kidnapping, and Sally calls on the police to help her find her lost family.

The conflicts at the heart of “cowboys” are timely, and come at a time when trans children and their rights are at the forefront of American political debate. But writer and director Anna Kerrigan doesn’t sensitize her story. Your characters don’t speak as if they were addressing the audience from a pulpit. Instead, she shows Troy, Sally, and Joe communicating through their differences of opinion. She pays attention to the behaviors that occur when under pressure. This sensitivity gives the film a smooth feel – the understated “cowboys” hop without adding to the excitement of a gallop.

The attention of this character drama offers Zahn in particular the opportunity to break new ground. He hasn’t lost the space that once made him a lovable comedic buddy, but here fatherhood gives the same charm of pathos, even tragedy. He understands and supports his son, but may not have the resources to make decisions that will benefit both of them.

Cowboys
Not rated. Running time: 1 hour 23 minutes. Available in virtual cinemas and to rent or buy on Apple TV, Google Play and other streaming platforms as well as pay TV operators.