Vue Boss Says Streaming Isn't the Big Screen's Rival, It's a Movie Love Fest!

Tim Richards, the founder and CEO of Vue International, one of the UK's largest cinema chains, says he does not see streaming services like Netflix and Disney Plus as direct competition to cinemas. According to Richards, the film industry learned a tough lesson during the pandemic when studios tried to release movies straight to streaming platforms, bypassing cinemas. He claims this move cost studios hundreds of millions of dollars and showed that everyone in the industry needs to work together. Richards told the BBC that rival cinema chains also share best practices and work together to promote the idea that cinemas are a great place to enjoy movies.

The past five years have been very challenging for the cinema industry. Vue had its best year ever in 2019, but then the Covid-19 pandemic forced cinemas to close for almost two years. On top of that, strikes by actors and writers made it even harder for cinemas to get new movies to show. Vue reported a pre-tax loss of £91. 8 million in the year ending November 2024, mainly because fewer people came to see movies. Other cinema chains have struggled too. Cineworld, another major player, filed for bankruptcy in the US in 2022 and went into administration in the UK in 2024. Cineworld has since restructured its debt and closed some branches to survive. Richards says his main focus during these tough times was to save Vue and protect the jobs of all 10,000 employees. He believes that when you have such an important mission, failure is not an option.

As cinemas reopened, some people wondered if the way movies are released had changed forever. For example, Marvel's Black Widow was released on streaming and in cinemas at the same time, and some new movies only play in cinemas for a few weeks. Despite these changes, Richards is confident that people still want the big screen experience. He points out that many of Vue's most loyal customers also subscribe to streaming services, but they still come to the cinema. Richards says the real problem during the Hollywood strikes was a lack of new movies, not a lack of interest from audiences. He believes that demand for movies in cinemas has always been strong. Vue has returned to pre-pandemic trading levels this year, and Richards expects next summer to be the company's biggest ever.

Richards has a long history in the film industry. Before starting Vue, he was a senior executive at Warner Brothers and helped run their cinema chain, Warner Village. Vue bought Warner Village's 36 cinemas in 2003, which helped the company grow quickly. Richards remembers being called an 'unknown bit player' when he made the deal, but he has proven himself since then. The entertainment industry is facing more challenges now because people are spending less due to the cost of living, and operating costs are rising. Richards says Vue has tried hard not to raise ticket prices, even though it means making less profit. He hopes that keeping prices low will encourage more people to visit cinemas. Richards also worries that people might choose other activities, like theme parks or football games, instead of going to the movies. However, he believes that young people today are more social and enjoy going out to see films. Richards watches many movies every week and says that seeing a great new film gives him hope for the future of cinemas.