We all know that because of the COVID-19 pandemic, almost all businesses have been closed across the country. This has a negative financial effect on many industries, including the movie industry.
Almost every major blockbuster movie for the film studios has been turned over, removed from rotation, or put on hold. For instance, “A Quiet Place II” was supposed to be released from Paramount Pictures but was not premiered due to the coronavirus. Other films like “Mulan” and “Black Widow” from Disney, “Wonder Woman 1984” from Warner Bros., “Fast & Furious 9” from Universal Pictures, or “No Time to Die” from MGN were to be completed but have been delayed by the pandemic.
Changing the dates of their releases is not as easy as it seems. This is because these studios have already put millions of funds into the advertisements of a lot of these releases, including buying expensive Super Bowl spots that are now rendered useless.
Other movies that are not moving from the phase of production include “Mission Impossible 7” and “Shang Chi.” These are just a few of the many high stakes projects that have had to close their sets.
The U.S. box office noticed a decline of 4.6% last year, which marked the second lowest admissions this century.
Since movie theaters are closed due to the pandemic, more people are streaming movies on Hulu, Amazon Prime Video, Netflix, and Disney+. As watching movies becomes more expensive, ticket prices could increase to about $22 once movie theaters open back up again, and that’s added to costly concessions. It is presently harder for these studios to make the viewers leave their couches and walk away from their TV screens for other things apart from blockbuster releases.
We’ll have to see how long these closures last, it may affect theaters reopening again, or films being released in a timely manner. And when theaters do reopen, they may have new restrictions for customers, and some may stream online only.
What do you miss most about going to the movies?