Vue CEO Tim Richards Shares Insights on Awards Season, IMAX, and the Future of Cinema in the WBD Landscape

EXCLUSIVE: Tim Richards, CEO of Europe’s largest privately held cinema operator, Vue International, and former Chair of the British Film Institute, recently discussed the state of the film industry on the eve of the BAFTAs.

The Canadian-born executive founded Vue nearly 30 years ago, overseeing a chain that now includes 220 cinemas and 2,000 screens across eight countries, with the UK as its largest market. Before launching Vue, Richards held positions at major studios, including Warner Bros, where he spent seven years as SVP of Business Development. A trained lawyer, he has lived in cities such as Los Angeles, New York, London, Brazil, and Canada, and holds Canadian, British, and American passports.

In an interview, Richards shared his insights on awards season, the sale of Warner Bros Discovery (WBD), Netflix, IMAX, the 2026 box office outlook, and innovations in cinema exhibition.

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DEADLINE: As we approach the end of the awards race, how do you see it concluding?

TIM RICHARDS: I think Hamnet is going to be the standout film at the BAFTAs, even though there are a couple of others nipping at its heels.

DEADLINE: It has done exceptionally well at the UK box office [$23M]…

RICHARDS: Incredible, yes. The success of Hamnet and a film like I, Swear [$8.3M in the UK] shows that the market is there for great British and independent films. These are not just great films; they’re quintessentially British. Jesse Buckley is easily the front-runner for the BAFTA and Oscar. Best Director will be interesting; Chloe Zhao deserves a spot, but Paul Thomas Anderson and Ryan Coogler also have momentum. I believe Robert Aramayo [for I, Swear] stands a great chance for Best Actor at the BAFTAs. It’s an incredible performance. Michael B. Jordan and Leonardo DiCaprio are also strong contenders for the Oscar in that category.

DEADLINE: So you think Robert Aramayo might outshine the Hollywood heavyweights at the BAFTAs?

RICHARDS: I genuinely think he deserves it. His performance was extraordinary, and he’s building momentum as an outsider coming on strong. I hope the BAFTA membership recognizes his talent.

DEADLINE: There’s an ongoing debate about whether the BAFTAs are British enough or distinct from the Oscars. What’s your viewpoint?

RICHARDS: BAFTA has made significant progress. Look at the final nominees—there are plenty of Brits represented. Can we do more? Absolutely. But the nominations for I, Swear and Hamnet are telling. The latter is more commercial, but neither film is Sinners.

DEADLINE: What’s your favorite film this season?

RICHARDS: Hamnet left a strong impression. Jesse Buckley was a standout. I also loved One Battle After Another; Leonardo DiCaprio’s role was extraordinary, and I think Sean Penn has been overlooked for his incredible performance.

DEADLINE: Will you be attending the BAFTAs?

RICHARDS: Absolutely. It’s an event I never miss. I shouldn’t say it, but it’s more fun than the Oscars—a more intimate affair. Vue Lumière, our UK distribution arm, has a film up for both an Oscar and BAFTA: the animated feature Little Amélie Or The Character Of Rain. It’s a beautiful hand-drawn film and I think it stands a great chance at the BAFTAs.

DEADLINE: That’s a highly competitive Oscar category with titles like K Pop Demon Hunters and Zootopia 2…

RICHARDS: It certainly is, yes. Those films have seen significant commercial success. However, I find it difficult to support Netflix films that don’t have a theatrical release. To their credit, both BAFTA and the Academy have tightened qualification rules, but Netflix often only meets the minimum requirements and then pulls their films off screens. For instance, Frankenstein had a minimal release on less than 10% of UK screens, and major exhibitors didn’t show it. Meanwhile, All Quiet on The Western Front had limited screenings but won the BAFTA for Best Film—an incredible film that 90% of audiences couldn’t see on the big screen. How can Frankenstein be in contention for Best Film or any other award when the majority of the country hasn’t had the chance to see it?

DEADLINE: Given this perspective, do you prefer Paramount over Netflix in the WBD situation?

RICHARDS: The entire industry seems to be supporting Paramount, as Netflix has been an outlier. Cinema operators have tried to collaborate with Netflix for 15 years without success, which has been frustrating. Paramount, with a 15-year record of producing exceptional commercial films, is clearly better positioned to support the industry moving forward. It’s unfortunate to see Warner Bros in its current situation; last year they generated $4.2 billion at the box office, indicating they weren’t truly in crisis.

DEADLINE: Regarding one of their current releases, there’s been heated debate about whether Wuthering Heights has been a box office success.

RICHARDS: Emerald Fennel has a strong following in the UK. The film has performed better than our initial expectations, earning $10.5 million in its opening weekend, with strong exit surveys and positive word-of-mouth. We’ve even noted repeat viewings early on, which suggests it will continue to do well.

DEADLINE: Recent data from the BFI and UNIC indicates that the UK and European box office is flat year-on-year, with significant declines in admissions compared to pre-pandemic levels. What’s your take on this data?

RICHARDS: We’ve been on a growth trajectory. After Covid, the strikes impacted the industry more severely and for a longer duration than anticipated, delaying production until late winter or early spring of 2024. As we plan our budgets for 2025, we recognize that this year won’t be as strong as it could be without those strikes. However, the early signs for this year are promising; we’ve outpaced our first two months last year in just six weeks. The summer is shaping up to be one of our highest-grossing seasons, with more movies on the slate contributing to this optimism.

We’re also thrilled about the renewed commitment from studios to theatrical releases. Paramount plans to release 15 major films this year, an increase from seven, and revamped Amazon MGM is opening global distribution offices. Overall, it’s an exciting time.

I recently returned from meetings in LA and noticed a significant number of films securing 2027 and 2028 release dates—a rare occurrence. These are all greenlit projects, signaling that the industry is bouncing back. I believe the narrative will shift positively after the summer; the current uncertainty surrounding the Warner Bros deal has cast a shadow, but once that’s resolved, the outlook will brighten considerably.

Additionally, local film production is resurging across Europe. Last year, several local films made it to the top five in their respective territories, highlighting a growing appreciation for homegrown content.

DEADLINE: Discussions have suggested decreasing ticket prices for British or low-budget films to drive attendance. Is that topic still relevant?

RICHARDS: I don’t think reducing ticket prices has ever held any value. Even if we offered tickets for free, if the film doesn’t interest viewers, they won’t attend. Marketing, promotion, and providing a great cinema experience have always been paramount. Over the last 18 months, we’ve installed nearly 40,000 leather recliner seats and have introduced our new Ultra Lux seating, which includes amenities like integrated champagne coolers and blankets.

We’re also innovating with Vue Your Way, featuring self-service snack, drink, and ticketing areas that eliminate long queues. This has positively impacted both concession sales and attendance.

DEADLINE: This seems to rival IMAX.

RICHARDS: It’s not a direct rival; our technology is more current. Forbes recently ranked large format experiences in terms of quality, placing us first, Dolby second, and IMAX fourth. IMAX has shifted focus from technology to marketing, and currently, Dolby and Vue are ahead in terms of both sight and sound quality.

DEADLINE: Your concerns also extend to IMAX’s recent two-week exclusive deal to show Greta Gerwig’s upcoming Netflix film, Narnia.

RICHARDS: They are jeopardizing the cinema industry with moves like that. Filmmakers, especially someone like Greta Gerwig, must find it frustrating that her release will only appear on a small percentage of screens worldwide for a limited time. This creates a viewpoint that Netflix acts as a last resort for filmmakers, primarily due to insufficient theatrical distribution.

DEADLINE: That’s still a profitable last resort.

RICHARDS: True, it is difficult for filmmakers nowadays. However, established, A-list filmmakers increasingly insist on theatrical releases in their contracts.

DEADLINE: What communication do you have with Netflix regarding these issues? Do you engage in discussions with them?

RICHARDS: We’ve made efforts to engage. Ted Sarandos has built an impressive company valued at $50 billion, and he deserves recognition. However, Netflix’s business model, which primarily revolves around home entertainment, often clashes with theatrical requirements. The frustration arises from their refusal to be flexible. While other studios show willingness to collaborate, Netflix sticks to its model. The primary concern remains the theatrical release window, and despite exhibitors occasionally being inflexible, the pandemic taught the industry that the day-and-date release model was unsustainable. We’ve moved to a 45-day window that most are happy with, but Netflix hasn’t adapted. Even respected industry figures like Scott Stuber have left due to frustrations over limited theatrical releases, which illustrates the issue clearly.

DEADLINE: Regarding your distribution label Vue Lumière, how many films do you plan to release this year?

RICHARDS: We expect to release 10 to 15 films in the UK this year, employing various distribution models. Our ambition is to expand these releases into our other markets, like sharing Italian films in Germany and Poland.

DEADLINE: Recently, you faced a dispute with Coca-Cola over an unpaid bill. They issued a “winding-up petition,” a legal step often taken to recover debts, which can lead to business closure. How do you view this situation?

RICHARDS: After a successful 24-year partnership, Coca-Cola filed a winding-up petition over a £40,000 disagreement, despite our cash reserves exceeding £100 million. We were already in discussions when they took that action, and we ultimately settled, leading to them now owing us £100,000. This situation was unexpected and displays a troubling lack of professionalism in maintaining partnerships.

DEADLINE: This incident coincided with your decision to switch suppliers to Pepsi after a lengthy relationship with Coca-Cola, correct?

RICHARDS: Yes, it seemed like a classic case of sour grapes.

DEADLINE: Coke versus Pepsi can be quite a passionate topic, as seen in our comments section.

RICHARDS: Overall, the business impact has been neutral across our territories.

DEADLINE: Lastly, there are discussions about former Cineworld CEO Mooky Greidinger potentially returning to the UK cinema landscape with a bid for Paramount-owned Showcase cinemas. What’s your perspective?

RICHARDS: I welcome Mooky’s return. His challenges mainly stemmed from the pandemic, an issue many exhibitors faced. You wouldn’t wish the closure of a business for almost two years on anyone—it was tough. Mooky faced additional struggles because of the scale of his company, but he is a talented businessman, and I hope for his success in re-entering the industry.