Cineplex open to producing original content as movie attendance drops 12% by Linda Nguyen, The Canadian Press Posted Feb 15, 2017 8:38 am MDT Last Updated Feb 15, 2017 at 1:40 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email TORONTO – Canada’s largest movie theatre chain is open to the idea of producing original content like Netflix and Amazon do, the head of Cineplex said Wednesday.CEO Ellis Jacob said the Toronto-based company isn’t signing up to produce Hollywood blockbusters but he would consider smaller productions.“It’s a matter of being opportunistic in certain circumstances,” Jacob said Wednesday following the company’s latest earnings release.“For example, if there is a particular movie that a distributor has that we feel comfortable with, we may join venture with them. But as far as getting into large productions of movies, that’s not a business that we’re going to head down.”Producing content can be financially risky. Companies generally need a large amount of capital up front in the hopes that a film would take off with audiences in order to generate a healthy return.“To say, OK, by making our own movies, (we’re) diversifying in that degree, the risk of how they do is still there,” Jacob said.“I’m not saying it’s a bad business. I’m saying it’s not a business that we’re focused on to look at from a big numbers perspective.”Cineplex said the idea came up earlier this month during a panel in Ottawa featuring Michael Kennedy, its executive vice-president.Adam Shine, a media and telecom analyst at National Bank Financial, said he doesn’t see moviemaking becoming a core focus for Cineplex, especially as it has already dipped into other businesses such as gaming.Earlier in the day, Cineplex reported a 12 per cent decline in attendance in its fourth quarter compared to the same period last year. It attributed that to a stronger movie lineup in the fourth quarter of 2015 that included some of the highest-grossing films of all time, such as “Star Wars: The Force Awakens” and “The Hunger Games: Mockingjay Part 2.”The drop in attendance to 17.9 million visits from 20.4 million was partly offset by higher per-patron spending on tickets and concessions.Cineplex’s net income was down 69.6 per cent, falling to $23.3 million or 37 cents per diluted share in the quarter ended Dec. 31 from $76.8 million or $1.20 per diluted share a year before.Its 2015 fourth quarter profit included an unusual gain related to the acquisition of CSI and a favourable change in the value of a financial instrument linked to a 2013 acquisition.Follow @LindaNguyenTO on Twitter.
Mining3 says it and The University of Queensland, in conjunction with the Australian Coal Association Research Program (ACARP), are currently in the process of building prototype autonomous sensors for the constant monitoring of tailings and spoil storage facilities.The Australia-based company said: “Tailings impoundments are one of the largest man-made structures on earth and ensuring their integrity for the safety of human life, the environment and property are critical in today’s mining operations. Past and recent catastrophic tailings dam failures have placed an urgent need for improved waste disposal, storage processes and monitoring capabilities.”Currently, the integrity of the tailings dam infrastructure is monitored by mining staff walking along the, potentially unstable, perimeter and visually inspecting the exterior. Piezometer-like devices are also placed throughout dams to measure changes in liquid pressure. “Combined, these methods provide subjective data that cannot deliver an ongoing and accurate assessment of the integrity of these waste storage facilities,” Mining3 said. “Without a reasonable assessment of these large structures, there is no way to identify if or when one might fail.”With a web of small, interconnected sensors spread across a tailings dam or spoil dump, Mining3 says accurate measurements in the change of water pressure or movement in the soil can be delivered to the surface in real-time. “This provides up to date readings of environmental factors that can affect overall wall stability, limiting the need for staff on the ground,” the company added.Mining 3 and the university’s research will also delve into identifying indicators and precursors to failures, in relation to data collected from these sensors. “This could revolutionise the understanding of these storage facilities. By understanding the causation, steps can then be taken to minimise risk in the future,” Mining3 said.“The current project addresses key industry outcomes surrounding safety and the removal of personnel from hazardous situations such as those involved in ground stability, the investigation of material properties and their implications in the design and functionality of a dump site, and the investigation into aspects of effective mine closure and the long term impacts associated with tailings dams and spoil dumps.”