CMX Cinemas CFO Luis Castelazo on His Call for Lower Film Rentals

This week, Daniel and Rebecca talk to Luis Castelazo, the Chief Financial Officer at CMX Cinemas. The North American division of Mexican operator Cinemex, CMX Cinemas became one of the ten largest theater chains in the U.S. shortly after opening in 2017. More recently, in April of this year it became the first top-ten chain to file for Chapter 11 following the emergence of the Covid-19 pandemic; they emerged from bankruptcy in December.

In an open letter published in December, Castelazo advocated for lower film rentals in response to the trend towards shortened theatrical exclusivity windows, which he argues could have a serious effect on theater attendance. In this episode of the Boxoffice Podcast, he discusses the evolution of CMX Cinemas and the need for a hard look at the film rental status quo.

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Episode Resources:

• CMX Cinemas Website
• CMX Open Letter

What to Listen For

• 00:00 Intro
• 02:05 Wonder Woman 1984 drops in its 4th weekend
• 05:51 Welcoming Luis Castelazo of CMX Cinemas
• 06:17 How CMX Cinemas became one of the top 10 circuits
• 10:45 Navigating the changing pandemic landscape
• 15:24 Viable solutions for exhibition on the road to recovery
• 17:36 New theatrical arrangements could save the industry
• 19:23 Did the day-and-date release affect WW84's box office?
• 21:01 Can the industry recover with shortened windows?
• 22:51 What causes drops in attendance?