Why Movie Theaters Are In Panic Mode Seven Months Into Coronavirus? Description video: The movie business has a reputation for being recession-proof. Even when the economy’s in a downturn, people want entertainment. But with the coronavirus pandemic ravaging the U.S. […]
Why Movie Theaters Are In Panic Mode Seven Months Into Coronavirus?
The movie business has a reputation for being recession-proof. Even when the economy’s in a downturn, people want entertainment. But with the coronavirus pandemic ravaging the U.S. and the world, movie theaters are in panic mode seven months into the coronavirus pandemic. Big movie theater chains, AMC and Regal Cinemas, reopened their theaters to the public back in late August. But with several blockbuster movies pushed back to Christmas or to 2021, movie theater chains are shutting down across the U.S. and the United Kingdom for the second time. With the movie business competing with popular streaming services like Netflix, Disney+ and Apple+, is this the end of the movie theater business as we know it? Here’s what the movie business looks like during a pandemic, and what it will look like in the future.\n\n» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC\n» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision\n» Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic\n\nAbout CNBC: From ‘Wall Street’ to ‘Main Street’ to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.\n\nConnect with CNBC News Online\nGet the latest news: https://www.cnbc.com/\nFollow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC\nFollow CNBC News on Facebook: https://cnb.cx/LikeCNBC\nFollow CNBC News on Twitter: https://cnb.cx/FollowCNBC\nFollow CNBC News on Instagram: https://cnb.cx/InstagramCNBC\nSubscribe to CNBC PRO: https://cnb.cx/2NLi9AN\n\n#CNBC\n\nWhy Movie Theaters Are Panicking Seven Months Into Coronavirus
“Argument” conquers American cinemas even during a pandemic
After numerous delays and postponements, the thriller “Tenet” finally made it to the big screens over the weekend in the USA.
The latest film from Warner Bros. and the newest job director Christopher Nolan brought distributors about $ 20.2 million in the first weekend. All over the world «Argument» has already raised $ 146.2 million.
The picture tells about time travel. Starred John David Washington and Robert Pattison. The film is the first major global blockbuster since the pandemic that began in March and paralyzed the work of cinemas around the world. The film was originally scheduled to premiere in July..
The coronavirus has disrupted the plans of many projects. Studios were forced to postpone high-profile films until next year or move them to streaming services, as was the case with Disney that released «Mulan» on their Disney + service. Cinemas, which are starting to revive after the epidemic, have already shown viewers a super-hero film «New mutants».
Thus, «Argument», which was one of the most anticipated films of 2020, could be the beginning «path to recovery» for cinemas, said Sean Robbins, chief analyst at Boxoffice.com.
«The fact that he came out in theaters is a huge boom for the entire film industry.», – he thinks.
Now, Nolan’s painting will try to attract as many viewers as possible over the coming months. This can be challenging as the coronavirus is still widespread in the U.S..
«Argument» and other films may run in theaters longer than we are used to seeing in recent decades. This is the kind of film that sparks debate and controversy among those who have seen it, and this is what can increase consumer demand and encourage people to go to the cinema again.», – said Robbins.
The next month «Argument» there won’t be much competition on screens in the US. Next major premiere ("Wonder Woman 1984") will take place only on October 2.