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How COVID-19 could impact the movie theater industry
As movie theaters across the country have been forced to close due to COVID-19, there could be a lasting impact on the industry once the pandemic is over.
Cinemark Holdings, one of the largest movie theater operators in the world, plans to have its movie theaters open by July 17 after closing due to the coronavirus pandemic.
The reopenings will take place in four phases, starting with a handful of theaters in Dallas on June 19. The remaining reopenings will be conducted between July 3 and July 17, and will include “enhanced cleaning and sanitizing protocols,” the company said.
“There is nothing quite like the awe and power of great cinematic storytelling on the big screen, and Cinemark is proud to once again welcome guests to enjoy the shared, immersive experience they crave in a way that provides them confidence and peace of mind,” said Mark Zoradi, Cinemark CEO in a news release.
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AMC Theaters had previously announced that it expects most of its theaters to be open by the middle of July, despite previous worry over the financial health of the company after closing due to the COVID-19 outbreak. The closures, however, did spark a renewed interest in drive-in theaters in some areas.
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Movie theaters in general had been forced to shutter their doors due to lockdown orders. Major Hollywood productions were also put on halt due to the pandemic, while some have started to resume.
The closures, however, did spark a renewed interest in drive-in theaters in some areas. Renowned film organizations such as Sundance, Tribeca and Cannes participated in the online “We Are One: A Global Film Festival” event that was held from May 29 to June 7.
With moviegoers stuck at home, streaming services experienced a significant boost in usage amid the pandemic. Netflix added nearly 16 million new subscribers in its first fiscal quarter of 2020.
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Even with theaters reopening, some have questioned if moviegoers are ready to fill seats right away with the threat of COVID-19 still present. A survey from EDO indicated that a majority of moviegoers would be highly likely or somewhat likely to return to cinemas when they reopen if necessary safety measures were implemented, according to Deadline.
Among the new films that moviegoers can expect to see in July are Christopher Nolan’s “Tenet” and Disney’s “Mulan.”
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Fed Chair Jerome Powell warns of deep downturn due to pandemic
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