Circuits search for global spark: U.S. loops face double whammy abroad. (Cinema Expo: o'seas exhibs gather in Amsterdam for blockbusters, seminars and chat on state of the biz).(Industry Overview)

HOLLYWOOD International exhibition is a double-bind dilemma for U.S.-based operators.

It's tough for them to succeed without a critical mass of screens in any one territory. But overscreening and other market challenges make it difficult to identify markets ripe for major new development.

"You need economies of scale," observes Bryan Krug, an exhibition analyst with Waddell & Reed in Overland Park, Kans. "AMC Entertainment is losing money overseas because they don't have the economies of scale."

The Kansas City, Mo.-based exhib, which has 244 screens in eight foreign territories, recently posted quarterly financial results hamstrung by a major writedown of international assets.

"But at Cinemark, international exhibition …