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Hong Kong Exempts Executives From Quarantine Guidelines

Hong Kong Exempts Executives From Quarantine Rules

Hong Kong’s borders have been sealed for more than a year and its quarantine rules — which require compulsory hotel stays of up to three weeks — are among the strictest in the world.

Corporate executives, however, are now eligible for special treatment.

The city’s Securities and Futures Commission quietly published a notice on Friday saying that fully vaccinated “senior executives” from local companies or their international affiliates could apply for an exemption to skip quarantine when they visit or return to Hong Kong. It did not issue a news release, and the notice offered no explanation for the timing or justification for the measure.

Neither the Securities and Futures Commission nor Hong Kong’s Department of Health responded to requests for comment on Saturday.

The Chinese territory reported no new cases on Friday. Though densely populated, it has managed to avoid a full lockdown and has kept its coronavirus caseload low through aggressive social distancing rules and forced quarantine in government facilities for close contacts of Covid-19 patients, among other measures. Even vaccinated travelers must quarantine in hotels for one to two weeks, depending on where they fly in from.

The quarantine exemption announced on Friday is not the first for corporate executives in Hong Kong; a similar one was issued last year for executives from local companies re-entering the territory from the Chinese mainland. But it further illustrates how coronavirus policies in Hong Kong, which has one of the biggest income inequality gaps in the world, do not apply evenly to all of its 7.5 million residents.

Officials have imposed lockdowns and mass testing after Covid-19 clusters were detected in poor neighborhoods, where many residents live in crowded tenements with faulty piping and poor ventilation. Critics have accused the government of allowing the conditions for outbreaks to fester, then imposing heavy-handed measures on a group that can least afford to bear them.

The government has also repeatedly accused the 370,000 or so migrant domestic workers who live in the city of violating social distancing restrictions, even though major outbreaks have revolved around clusters of expatriates and wealthy locals.

In early May, the government backtracked on a contentious order that would have required all migrant domestic workers to be vaccinated. But it still went ahead with a plan to subject them to a second round of compulsory coronavirus testing, despite the first round turning up just three positives among 340,000 people.

The government has said that its compulsory testing protocols are based solely on “risk assessment” and apply equally to anyone working in high-risk places, including nursing homes.

In other news around the world:

  • Malaysia reached 9,020 new coronavirus cases on Saturday, the fifth straight day of record new infections in the country, according to Reuters. On Friday, Prime Minister Muhyiddin Yassin announced that a two-week nationwide lockdown would begin in June to fight the recent surge.

  • Saudi Arabia is lifting a ban on travelers from 11 countries, the Saudi Press Agency announced on Saturday. Beginning on Sunday, visitors will be allowed entry from the United Arab Emirates, Germany, the United States, Ireland, Italy, Portugal, the United Kingdom, Sweden, Switzerland, France and Japan.

  • Kate, the Duchess of Cambridge and wife of Prince William, announced on Twitter that she received her first dose of the coronavirus vaccine at London’s Science Museum. “I’m hugely grateful to everyone who is playing a part in the rollout — thank you for everything you are doing,” she wrote. According to the government portal, more than 39 million people in the United Kingdom have received at least one dose of a Covid vaccine.

  • Taiwan reported 486 new domestic coronavirus cases on Saturday, according to Reuters. The number includes 166 cases added to the totals for recent days as an adjustment in its infection numbers following delays in reporting positive tests.

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Business

Artwork Basel Hong Kong and Eurovision convey the worldwide arts scene again

Art Basel Hong Kong and Eurovision bring the global arts scene back

With two major cultural events last weekend, the international art scene signaled that it does not intend to have Covid cancel another year.

Held May 19-23, Art Basel Hong Kong marked the return of one of the most revered art fairs in the world. The show followed Frieze New York, which happened earlier this month and was the first major art fair in New York since the pandemic began.

After a one-year hiatus, the extremely popular Eurovision Song Contest also returned to Europe. The competition took place May 18-22 and, according to the show’s organizers, was watched by nearly 200 million viewers, including a live audience of 3,500 people.

After large gatherings around the globe were canceled for more than a year, both events mark a significant step forward on the path to normalcy after the pandemic and highlight the different methods Asia and Europe are using to achieve this goal.

Art Basel Hong Kong becomes “hybrid”

With its first show in more than a year, Art Basel returned to the world stage after canceling its three annual shows last year – Hong Kong in March, its flagship show in Basel, Switzerland in June, and Miami Beach (Florida) in December.

All three events are back this year with the first Art Basel Hong Kong, which will present a “hybrid” format that allows participants to appear virtually or in person.

Art Basel Hong Kong 2021, which was relocated from March to May, made its debut in a “hybrid” trade fair format.

Mighuel Candela | SOPA pictures | LightRocket | Getty Images

Private collectors from more than 30 countries and territories took part in “virtual tours” of the fair, which was held at the Hong Kong Convention and Exhibition Center. More than 100 galleries participated, with many joining through satellite booths that allowed gallery owners to interact with attendees without traveling to Hong Kong.

“After we had designed our booth plan for the fair, the gallery delivered all of the artwork to Hong Kong to be installed by the Art Basel team, as in previous years,” said Valerie Carberry, partner at Gray. Chicago, New York. “Since we couldn’t travel to Hong Kong to attend the fair ourselves, Art Basel appointed us a booth assistant who took care of the booth in our place.”

The gallery planned video meetings ahead of the show to prepare the assistant, who, according to Carberry, “was incredibly professional … we felt well represented”.

Face masks were created as new canvases at Art Basel Hong Kong 2021.

Anthony Kwan | Getty Images Entertainment | Getty Images

The participants were also able to view their collections via online viewing rooms that Art Basel launched last year. Online rooms of the canceled exhibition in Hong Kong in 2020 showed works from more than 230 galleries and, according to Art Basel, attracted around 250,000 visitors.

“We all wanted to be there in person, of course, but the ability to share real-time information with customers at your booth was as close as ever to an in-person pandemic art fair,” said Carberry.

“We all felt a bit ‘jet lagged’ after we did not travel, but it was worth telling our Hong Kong customers how much we value their business and the support of our program.”

The Eurovision Song Contest is back

The cancellation of last year’s Eurovision Song Contest, or Eurovision for short, may have resulted in this year’s competition reaching its largest audience since 2016.

In the singing competition that began in 1956, musical acts from predominantly European countries compete against each other, with 26 reaching the grand finals. The country that produces the winning act hosts the next competition.

This year, the Italian rock group Maneskin won the main prize and made sure that the competition will take place in Italy in 2022.

Italian rock group Maneskin won Eurovision in 2021, which relied on social distancing and testing to keep participants healthy before the show.

Soeren Stache | Image Alliance | Image Alliance | Getty Images

The show was largely a face-to-face event with most of the attendees performing live from Rotterdam, the Netherlands. The Australian Montaigne performed over a taped shot due to their inability to travel to Europe. This was a first in the show’s 65-year history.

Participants wore masks and followed social distancing mandates. According to Eurovision, the participants were subjected to regular Covid tests and isolated in their hotel rooms unless they were exercising.

The show also limited the number of live viewers present. Still, the 3,500 people who watched in person were enough to make Eurovision one of the largest live entertainment events in Europe since the beginning of the pandemic in 2021.

The annual competition, which casts a spell over Europe but is largely unknown to American audiences, is slated to launch in the US next year on NBC. According to the Eurovision website, artists from 50 states, five US territories and Washington, DC will compete in the “American Song Contest” for the title of the best original song.

What’s coming?

With the exception of Art Dubai, which began in late March 2021, most of the major international art exhibitions that were originally supposed to take place before May have been canceled. These include Frieze Los Angeles and Dutch Tefaf Maastricht, both of which were postponed before being canceled.

The Art Basel fairs in Basel and Miami Beach are back in the books, although the Switzerland show has been postponed from June to September in order to “visit as broad an international audience as possible,” according to the fair’s website.

Another top international art fair, Frieze London, is slated to return in October.

It is expected that these fairs will be very personally attended. According to Marc Spiegler, the global director of Art Basel, the digital components of Art Basel will be retained.

“We have developed a variety of techniques and tactics for people to access a gallery’s programming digitally,” he told the New York Times. “The pandemic has enabled us to do a better job for the collectors who cannot attend.”

The next Eurovision competition is planned for May 2022. Although details have not been confirmed, online speculation about dates and locations has begun.

Hong Kong is also pushing high-profile plans that align with the city’s conservative approach to curbing Covid. In line with its nickname as the “Art Capital of Asia”, the city will host a number of art festivals and exhibitions, including the contemporary art exhibition “Ink City” and the French May Arts Fest with around 80 events across the city in June.

This year, a new visual arts museum is due to open in Hong Kong’s new “T” -shaped M + building.

PETER PARKS | AFP | Getty Images

The Hong Kong Ballet will play Romeo + Juliet next month after the show was canceled last summer.

The new M + building in Hong Kong will house one of the largest museums for contemporary visual culture in the world. The “T-shaped” museum has an area of ​​65,000 square meters, including 33 galleries, three cinemas, a research center, restaurants, a tea and coffee bar, a members’ lounge and a roof garden with a view of Victoria Harbor.

The museum is slated to open this year.

Disclosure: NBCUniversal is the parent company of CNBC.

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Business

Singapore, Hong Kong push again launch date for air journey bubble

Singapore, Hong Kong push back launch date for air travel bubble

Crew members and travelers of Singapore Airlines in the transit hall of Changi Airport in Singapore on January 14, 2021.

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SINGAPORE – Singapore and Hong Kong have again postponed the start date of a long-awaited deal on air bubbles, the two cities announced on Monday.

The travel bubble, which would have allowed travelers to skip the quarantine, was due to begin May 26. The program has had several rounds of delays since it was first launched in November 2020.

The Singapore Department of Transportation said in a statement that “with the recent increase in unlinked cases in the community, Singapore is unable to meet the criteria to launch the travel bubble”.

Meanwhile, the Hong Kong government said in a statement that further updates will be made on or before June 13th.

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Health

Hong Kong journey bubble doubtless delayed, new restrictions

Hong Kong travel bubble likely delayed, new restrictions

A woman walks past a cordoned off Merlion Park in Singapore on June 12, 2020.

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SINGAPORE – Singapore’s benchmark index, the Straits Times, fell 3% after the government announced further tightening of Covid-19 restrictions and the likelihood of another delay in the air travel bubble with Hong Kong.

Aviation stocks were hit hard. Singapore Airlines was down 6.7%, while SATS, an aviation catering and airport ground handling company, was down 6.5%.

The Singapore government said Friday it was “very likely” that the Hong Kong travel bubble will not start as planned on May 26. The Southeast Asian country has tightened measures to curb the increasing cases of Covid locally, including stopping all dine-in services and limiting public gatherings to two.

The Singapore-Hong Kong air travel bubble would have allowed travelers to skip the quarantine. There have been several delays since it first launched in November 2020 as Hong Kong reported a resurgence in Covid-19 cases.

Both Singapore and Hong Kong are major Asian business centers with no domestic air travel markets. Your tourism and aviation industries, which are heavily reliant on international travel, have been hard hit by the pandemic.

Singapore Minister of Transport Ong Ye Kung said Hong Kong was “a very safe region” with few new Covid cases discovered daily. However, infections have risen in Singapore and the city-state is unlikely to reach the threshold to start the travel bubble, he added.

Singapore and Hong Kong have previously agreed that the travel arrangement will be suspended if the number of unlinked local Covid cases in both cities exceeds five on a moving average of seven days.

The Singapore Ministry of Health announced Thursday that it had confirmed 24 new cases of locally transmitted Covid-19 infections, four of which were not linked to previous cases. The number of new cases in the community rose to 71 in the past week – compared to 48 the week before, the ministry said.

On Thursday, the city-state confirmed a cumulative 61,453 Covid infections and 31 deaths, according to data from the Ministry of Health.

Meanwhile, Hong Kong identified three potential cases on Thursday, bringing the total number of confirmed or likely infections since the outbreak to 11,818, official data showed. The city has reported 210 deaths, according to the data.

Ong said he spoke with Edward Yau, Hong Kong’s Secretary for Trade and Economic Development, about the Covid situation in Singapore. Both sides will make a decision early next week on whether to continue the air travel bubble launch, Ong said.

Singapore is tightening restrictions

The Singapore government also announced that there will be more Covid-19 restrictions starting this weekend after local infections increase. The measures will take effect from this Sunday until June 13th.

The new measures include:

  • No eating in food and beverage establishments;
  • Smaller social gatherings: A maximum of two people are allowed, up from five previously;
  • All workers who can work from home must do so.

The government will review the measures halfway – or about two weeks later – to see if an adjustment is needed, said Lawrence Wong, Singapore’s education minister and co-chair of the Covid task force.

Before the announcement on Friday, Singapore had already tightened the restrictions since last weekend. These measures included pre-event testing for large gatherings and the closure of some indoor gyms.

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Business

Journey.com up greater than 4% in Hong Kong IPO, bullish on China journey in Might

Trip.com up more than 4% in Hong Kong IPO, bullish on China travel in May

Online travel agency Trip.com made a strong debut in Hong Kong on Monday. The shares rose by around 4.55% compared to the issue price.

The China-based company is now joining other US-listed Chinese tech heavyweights like Alibaba, JD.com and Baidu, who have moved closer to their homeland via second deals in Hong Kong. The IPO was valued at $ 268 Hong Kong per share and $ 8,478 million (US $ 1.09 billion) was raised unless the over-allotment option is exercised.

The secondary listing comes as Chinese tech companies continue to face the risk of being delisted in the US, which clouded investor sentiment.

This May vacation we already have … some of the inbound people and we’re seeing a record number of travelers in China – likely double digit growth from pre-Covid levels.

James Liang

Chairman of the Board of the Trip.com Group

James Liang, CEO of Trip.com Group, told CNBC that the “main reason” for listing the company as a secondary listing in Hong Kong was to make it easier for global investors in Asia and China to trade stocks.

“Most of our customers are in Asia. I think it’s pretty natural for us to be listed in Hong Kong,” he said in an interview with CNBC’s Street Signs Asia on Monday.

“Very optimistic” about the May vacation

Even if much of the global travel market continues to stall due to the coronavirus pandemic, Trip.com expects a “record number of travelers in China” for the long vacation ahead in May.

“This May vacation, we already have … some of the numbers that are coming in, and we’re seeing a record number of travelers in China – likely double-digit growth from pre-Covid levels,” Liang said. Labor Day holidays are May 1-5 in China.

In particular, upscale accommodations like resorts and short-haul travel are expected to see “very, very rapid growth” that could actually more than offset the decline in international travel, Liang predicted.

An employee walks through the reception area at the headquarters of Trip.com Group Ltd. on Thursday, February 4, 2021. in Shanghai, China.

Qilai Shen | Bloomberg via Getty Images

“The money people save by buying international airline tickets is what people are spending on hotels, especially high-end hotels and cars, you know, on local transport,” he said. “While the total transaction amount may not hit record levels, we are very optimistic about the number of travelers and margins.”

China was the first country to report on the coronavirus pandemic. After tight lockdown measures launched across the country weeks after the earliest Covid-19 cases occurred in Wuhan city in late 2019, the country largely managed to contain the spread of the virus and stepped as one of the few major economies in 2020 that expanded this year.

In contrast, authorities in other countries continue to struggle to vaccinate their populations in the face of increasing viral infections and potential mutations.

One example is India, which has seen a second wave of coronavirus infections since February and overtook Brazil last week to become the second worst affected country after the US, just behind the US

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Business

Asia, Shanghai, Tokyo, Hong Kong costliest cities for the rich

Asia, Shanghai, Tokyo, Hong Kong most expensive cities for the wealthy

Asia is still the most expensive place in the world to get rich. This emerges from a new report in which the region’s resilience to the Covid-19 pandemic kept high prices stable.

The world’s most populous continent remained the most expensive for high net worth individuals (HNWIs) in Bank Julius Baer’s Global Wealth and Lifestyle Report 2021, as its swift response to the global health crisis and overall currency stability kept the cost of luxury goods in the region up .

Four of the top five most expensive cities for HNWIs – those with investable assets of $ 1 million or more – are now in Asia, according to the annual report.

Shanghai, China jumped to the top of the ranking of 25 world cities and was named the most expensive place for a wealthy individual. Hong Kong, number one last year, slipped to third place while Tokyo, Japan stayed in second place.

Monaco, a small affluent state in Western Europe, and Taipei, Taiwan rounded out the top 5.

Covid did not become an epidemic (in Asia) like the other countries in the index.

Rajesh Manwani

Bank Julius Baer, ​​Head of Markets and Wealth Management Solutions (Asia Pacific)

“Covid did not become an epidemic (in Asia) like the other countries in the index,” said Rajesh Manwani, head of markets and wealth management solutions for the Asia-Pacific region at Bank Julius Baer.

Europe and the Middle East took second place, with the majority of global cities represented in the region being sustained by the strength of the euro and the Swiss franc.

America, badly hit by the pandemic, turned out to be the cheapest region to live a luxurious lifestyle as the US dollar and Canadian dollar fell against other major global currencies.

The new must-have luxury goods

The ranking is based on the price of a basket of luxury goods representing discretionary purchases by HNWIs in the 25 world cities.

This year, significant changes were made to the list as four of the 18 items were replaced as the pandemic changed consumption habits.

Personal trainers, wedding banquets, botox, and pianos have been rolled out and replaced with bikes, treadmills, health insurance, and a technology package including a laptop and phone.

“During a year ravaged by global bans, personal technology and treadmills have grown in popularity while the price of women’s shoes has fallen,” the report said.

“We expect all of these items will continue to have a place on the list,” added Manwani, predicting the shifts caused by pandemics will be permanent.

Overall, the luxury goods that saw the largest drop in US dollar prices were women’s shoes (-11.7%), hotel suites (-9.3%) and wine (-5.3%). Business class flights (11.4%), whiskey (9.9%) and watches (6.6%) saw the largest increases.

Watch Asia prosperity trends

Asia is expected to maintain its stronghold as the most expensive region in the world for the rich in the coming years as economic growth continues to accelerate, the report said.

India – currently home to one of the region’s more affordable world cities, Mumbai – will be one of the leading countries, said Mark Matthews, director of research in Asia Pacific at Bank Julius Baer.

India is getting more expensive. Now it’s a bargain.

Mark Matthews

Head of Research (Asia Pacific), Bank Julius Baer

“India’s growth rate will increase,” he said. “India is getting more expensive. Now it’s a bargain.”

China, meanwhile, will remain the world’s leading luxury goods market as the affluent Chinese consumer moves in, he said. By 2025, China is projected to account for 47% to 49% of the luxury goods market, up from 16% to 18% in America and 12% to 14% in Europe.

However, two other trends could change the way wealthy individuals spend their money in the coming years, the report added: conscious consumption and preference for experience over goods.

“We believe that the consumer conscious lifestyle has really become mainstream,” said Manwani. Hence, people can restrict long-haul flights and buy electric vehicles, change their diet and reject fast fashion.

“Zillennials are interested in this trend,” he said, referring specifically to Generation Z consumers.

Do not miss: These are the most expensive cities in the world for expats

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World News

India shares lead losses in Asia-Pacific; Alibaba shares in Hong Kong surge

India stocks lead losses in Asia-Pacific; Alibaba shares in Hong Kong surge

SINGAPORE – Stocks in India fell as stocks in Asia Pacific traded lower on Monday.

Both the Nifty 50 and BSE Sensex in India fell more than 2% each on Monday morning.

The losses came when the Covid-19 situation in the country remained severe. Reuters reported that the hardest-hit state of Maharashtra is considering a lockdown.

Meanwhile, stocks in mainland China also fell as the Shanghai compound fell 0.81% while the Shenzhen component fell 1.72%. Hong Kong’s Hang Seng Index fell 0.98%.

In Japan, the Nikkei 225 fell 0.52% while the Topix index was below the flatline. South Korea’s Kospi bucked the trend, rising 0.03%.

Australian stocks were down as the S & P / ASX 200 lost 0.45%.

The broadest MSCI index for stocks in the Asia-Pacific region outside Japan fell 1.19%.

Stocks in motion

Currencies and oil

The US dollar index, which tracks the greenback versus a basket of its peers, stood at 92.251 after falling above 92.8 earlier this month.

The Japanese yen was trading at 109.54 per dollar, stronger than above 110.5 against the greenback last week. The Australian dollar changed hands at $ 0.7608 after last week’s turbulent trading as it rose from over $ 0.765 to around $ 0.759.

Oil prices barely changed on the morning of trading hours in Asia. The international reference Brent crude oil futures rose slightly to $ 62.99 per barrel. The US crude oil futures were slightly higher at $ 59.37 a barrel.

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Business

Godzilla vs. Kong tops $60 million, the perfect pandemic field workplace haul

'Godzilla vs. Kong' tops box office with $32.2 million opening

Godzilla and King Kong fight in Warner Bros.’s “Godzilla vs. Kong.”

Source: Warner Bros.

“Godzilla vs. Kong” hits pandemic box office records.

On Saturday, Warner Bros., who co-produced the film with Legendary, announced that its kaiju-filled film had exceeded $ 60 million at the domestic box office. This made it the highest-grossing film released during the ongoing coronavirus pandemic.

Previously, Tenet, another Warner Bros. film, held the record for $ 58.5 million, which it secured during its 2020 theatrical release.

As it stands, Warner Bros. ‘films currently represent four of the five highest-grossing films released during the pandemic. Tenet is the second highest, Wonder Woman 1984 is fourth at $ 46.2 million, and Tom and Jerry is fifth at $ 40.3 million.

The third largest grossing film in the pandemic is Universal’s “Croods: A New Age,” which grossed $ 56.5 million during its time in theaters.

“It’s starting to look like the summer of April as ‘Godzilla vs. Kong’ surpasses box office milestones that would have been unthinkable just a few weeks ago,” said Paul Dergarabedian, senior media analyst at Comscore. “Warner Bros. ‘ The release strategy has paid off, proving that cinema is still king when it comes to creating the most impactful, immersive cinematic experience. “

“Godzilla vs. Kong” has broken a number of records since it opened on March 31st. The film had its biggest opening weekend since the coronavirus pandemic began, grossing $ 32.2 million in theaters on its first Friday, Saturday, and Sunday.

It opened in more than 3,000 theaters in North America over the weekend. Most of all films during the pandemic had their largest opening day on Wednesday at $ 9.6 million and Saturday’s largest single day at $ 12.5 million.

“Godzilla vs. Kong” signals that consumers are dying to go to the movies for new blockbuster features and suggests that the summer slate could have similar success.

Disclosure: Comcast is the parent company of NBCUniversal and CNBC.

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Business

AMC upgraded as ‘Godzilla vs. Kong’ renews confidence in field workplace

AMC upgraded as 'Godzilla vs. Kong' renews confidence in box office

AMC Empire 25 in Times Square is open as New York City theaters reopen for the first time in a year after the coronavirus shutdown on March 5, 2021.

Angela Weiss | AFP | Getty Images

“Godzilla vs. Kong” restores confidence in the future of the box office.

The Warner Bros. ‘film, which released the best opening weekend of any movie released during the coronavirus pandemic, “destroys ongoing concerns about the importance of the cinema window and shows a solid path to resurgence,” wrote Eric Wold, an analyst at B. Riley Securities, in a report on Monday.

“Godzilla vs. Kong” signals that consumers are dying to hit theaters for new blockbuster features and suggests that the upcoming summer slate could have similar success.

Wold also switched AMC Entertainment to “Buy” on its Monday listing and raised its price target from $ 7 to $ 13. The company’s shares rose more than 15% on Monday and have risen more than 410% since January, partly due to renewed confidence in the company’s ability to weather the remainder of the pandemic. AMC has a market value of $ 4.2 billion.

“We remain impressed with the management’s ability to weather the pandemic headwinds by both strengthening the bottom line and negotiating with landlords to improve the runway by 2022,” he wrote. “And as the largest exhibitor in North America that also operates most of the premium IMAX screens, we see AMC as well-positioned to benefit from the forecast industry recovery and to match pre-pandemic visitor numbers by 2023.”

AMC has been hit by the pandemic. The company was already in debt to acquiring smaller theater chains and adding luxury seating to its existing locations. Closures, capacity constraints, and the lack of new movie releases put a significant strain on the company’s finances.

The performance of “Godzilla vs. Kong” is a bright light for AMC and the rest of the cinema industry.

The film, which debuted domestically on Wednesday and released on HBO Max, grossed $ 32.2 million on Friday, Saturday and Sunday and brought in $ 48.5 million for the entire five-day Easter weekend in the US and Canada a.

“We believe consumers want to leave the house and return to the theater, and these results are very telling, especially considering the film was available for free to HBO Max subscribers at the same time it opened in theaters,” Wold wrote.

Notably, less than 60% of the North American theater base was open on weekends, and theater capacity constraints remain between 25% and 50%.

“We think these results are impressive considering the previous movie, Godzilla: King of the Monsters, opened for just $ 47.8 million in May 2019 (all theaters are open with no capacity restrictions) “wrote Wold.

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Business

‘Godzilla vs. Kong’ tops field workplace with $32.2 million opening

'Godzilla vs. Kong' tops box office with $32.2 million opening

Godzilla and King Kong fight in Warner Bros.’s “Godzilla vs. Kong.”

Source: Warner Bros.

The box office at home is back.

Warner Bros. and Legendary’s “Godzilla vs. Kong” had a pandemic best opening over the weekend, raising $ 32.2 million on Friday, Saturday and Sunday. The film, which was released domestically on Wednesday, grossed $ 48.5 million in the United States and Canada.

Internationally, “Godzilla vs. Kong” increased its box office results by a further US $ 71.6 million. Since it opened in overseas markets last week, the film has grossed $ 285.4 million.

“The results for ‘Godzilla vs. Kong’ are absolutely stunning and represent a kind of ‘welcome back’ to an industry that has been working its way back from the fringes for over a year,” said Paul Dergarabedian, senior media analyst at Comscore.

“Godzilla vs. Kong” opened in more than 3,000 theaters in North America over the weekend, most of the films during the pandemic. Not only did the film release the biggest opening weekend since the coronavirus pandemic began, it also had the biggest opening day on Wednesday at $ 9.6 million and the biggest single day on Saturday at $ 12.5 million.

“For anyone who has questioned the pent-up demand for admissions, this achievement is another sign of how resilient the theater industry can be,” said Shawn Robbins, chief analyst at Boxoffice.com.

According to Comscore, only 55% of theaters in North America were open over the weekend, compared to the total number of theaters open in 2019. Most of these cinemas are around 50% full.

“It should send a message to the studios again that the global audience is hungry for big box office releases,” said Robbins. “If ‘Godzilla vs. Kong’ can break out in a still hampered domestic market with a simultaneous streaming release on these numbers, imagine what other blockbuster competitors can achieve in the coming months, if a reasonable window for exclusivity of the theater is given. ” Day one.”

“A sleeping giant is really starting to wake up,” he said.