SAN ANTONIO — Wonder Woman 1984 may be further proof that women have the power to save the day. In the next installment of the Wonder Woman franchise, she takes on two enemies on the screen, and the off-screen reality of a pandemic plagued box office.
"Blockbusters in the year 2020 are the same as blockbusters in any other year," Santikos Entertainment CEO Tim Handren said. His theaters retained 10 to 15 percent of their typical audience since mid-March.
Lack of new content from Hollywood to draw movie-goers out to generate revenue is the continuing challenge in keeping the doors open.
The local movie chain received relief in a $50 million loan from The Bank of San Antonio. It's a Federal Main Street lending program friendlier to businesses hurting from the impact of the pandemic.
"This is not a grant. This is not stimulus money," Handren said.
He said it allows Santikos to pay off debt while not requiring the company to put up all its properties for collateral.
"Servicing $50 million in debt is going to be roughly $5 million or $6 million a year in cash that has to go out the door," he said.
Expansion plans for three new theaters remain on hold. But the theater chain CEO said he is fielding calls about moving into existing spaces where other movie chains are leaving.
Now, poised to come in the door are the spoils of the pandemic's first potential blockbuster movie: Wonder Woman 1984.
According to Handren, Santikos scheduled more than 520 private screening packages with 20 people or more at $175 per booking. Pre-sales for the film are doing well too.
"This is where it starts to feel like a regular blockbuster weekend," he said. "If you go online to get a Wonder Woman ticket today or on Christmas Day, you're going to have a hard time finding a seat," he said.
Due to COVID-19 regulations, theaters are at 50 percent capacity, which means they can fill up fast. Buy early, they advise.
"I've been amazed at the ticket sales," he said. "I think people are really really excited to get out and see a classic like Wonder Woman on the big screen."
Related links on KENS 5: