He was simultaneously rejoicing at studios allowing the country to debut new releases like "Spongebob: Sponge on the Run," "Unhinged" and
"This is a very unusual occurrence," Jacob told
His remarks came as Cineplex reported a loss of
Revenue for the quarter ended
The company was hurt when it was forced by governments to keep its theatres closed for months during COVID-19, resulting in temporary layoffs, slashed salaries and tussles with landlords over rent.
Jacob warned analysts on a call Friday morning that the company would take more "bold action" if necessary, but for now, he is focused on welcoming guests to theatres.
To get them back, Cineplex is offering cheaper movie tickets, reserved and distanced seating, increased cleanings and screenings of NHL and NBA games.
Jacob said the plan is already working.
"It is clear that Canadians miss the big screen and want to come back," he said, noting that he was planning to head to the movies tonight.
The slate was far from the highly anticipated films, including "Black Widow, "Mulan" and sequels from "Star Wars" and "Avatar" that were once planned for this summer, but were pushed back amid COVID-19.
"Mulan"-backer
Jacob, who has long argued that movie watchers prefer the experience of visiting a theatre to watching at home, said he was "disappointed."
"
"From talking to them, they say this is more of a one-off and not something they would like to do once this is behind."
Jacob argued most studios still value the theatre experience and though they've shifted in some cases to streaming, he wasn't worried that switch would stick around forever or hurt his business.
He'll keep an eye on that situation and on managing the fallout from
Cineplex has filed a lawsuit against its former suitor over the failed deal.
The matter is set to make it to trial in
This report by
Companies in this story: (TSX:CGX)
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