
Coronavirus: Box Office Sees Possible $4B Loss Through March Date: 2020-04-10 Author: Original Site
The impact in 2020 from Covid-19 (coronavirus) on the motion picture business cannot be overstated. That s as the closure of cinemas in China alone is approaching a loss of $2B to the global box office, while the disease has now seen spikes in Italy, South Korea, Japan, Germany France and so on. What looked in late January as a possibly short-term, confined issue has now taken on enormous proportions, clearly on a human scale, and also on the film industry. As movie theater attendance has slowed in several markets, compounding the losses, an estimate we ve heard in overall ticket sales impact could be as high as $4B worldwide by the end of March. A ringing question in distribution circles is how long the situation will continue. Says one source, "We are decision makers and problem solvers, but unfortunately because the problem is so unknown in terms of its degree, we just don t know how deep we re in. No one knows."
Italy, a mature major, brings up concerns of a possible spread onto the European continent. Currently, about 50% of cinemas have been closed there, including in the Lombardy region, which is home to Milan. Amid those closures, we hear some studios have also made the decision to delay releases of upcoming titles including The Invisible Man (Universal) and Onward (Disney), while local films are also being affected. Venice s Carnival events too have been called off and Paramount said this week the studio was altering the production plan for a three-week Venice shoot on Mission: Impossible 7. That was amid efforts of the local government to halt public gatherings in response to the virus threat.
In fact, there have been further new cases in the past days including in Spain, Austria, Croatia, Greece, Switzerland, Sweden and UK.
The situation in Korea ? which has been basking in an Oscars afterglow ? is particularly worrying as it is the world s fifth largest box office market. As we noted few days ago, Disney moved Pixar s Onward off of its date there while the Global Timesreports local pics Call and Innocence have also been delayed. The Korean Film Council said last week that attendance was sharply down; a challenge, we hear, is fewer screenings because there are longer periods between shows so that theater teams can sanitize auditoriums.
In Singapore the attendance was off by 64% in one week this month versus the same period last year.
So what are the studios doing? Apart from keeping in close touch with teams on the ground in the various affected markets and doing their best to ensure their safety as well as limiting travel and switching some local release dates ? which we may see more of depending on how the virus spreads ? their hands are somewhat tied. All of digital cinema related companies all around the world are in a stand-by position.
In China, Sonic The Hedgehog china release date was postponed due to coronavirus
Disney s Mulan, a ballad to China ? which was expected to be the major driver on the film ? is looking likely not to have a day-and-date release in late March.
Marvel s Black Widow is scheduled for late April/early May in the rest of the world, and so hopefully would see a China release shortly thereafter if the theaters come back in time.
Universal s first time at bat with Bond, No Time To Die, has seen its Beijing premiere and press tour cancelled. It has an early April UK date with domestic the week following. Again, there was no set China date, but it now looks like 007 will be delayed.
This coronavirus epidemic is unpredictable, but we can only hope that it will pass sooner.
Most recent headlines
13/03/2025
WASHINGTON FCC Chairman Brendan Carr announced that the agency has launched a massive, new deregulatory initiative that could potentially subject virtually all ...
13/03/2025
SUNNYVALE, Calif. SDVI has announced that it has integrated its Rally media supply chain management platform with the Spectra Vail multi-cloud data management s...
13/03/2025
ATLANTA Gray Media has announced that the Federal Communications Commission (FCC) has granted a waiver of its local ownership rules to permit Gray Media to acqu...
13/03/2025
TV Tech: What do you anticipate will be the most significant technology trends at the 2025 NAB Show?...
13/03/2025
Watch Student Naomi Soleils Folk Pop Performance on The Voice The songwriting major sang Stars by Grace Potter and the Nocturnals during the blind auditions.
...
13/03/2025
Bundle up - GeForce NOW is bringing a flurry of Blizzard titles to its ever-expanding library.
Prepare to weather epic gameplay in the cloud, tackling the genr...
13/03/2025
AI is leveling up the world's most beloved games, as the latest advancements...
13/03/2025
PC game modding is massive, with over 5 billion mods downloaded annually. Mods p...
12/03/2025
O Spotify acaba de lan ar o relat rio Loud & Clear deste ano, uma vis o transpar...
12/03/2025
Spotify acaba de presentar el informe Loud & Clear de este a o, una mirada trans...
12/03/2025
Ramadan, a period of profound spiritual significance for Muslims worldwide, is a time for fasting, prayer, reflection, and community. Enrich your experience thi...
12/03/2025
Spotify has just unveiled this year's Loud & Clear report, a transparent loo...
12/03/2025
More than 70% of FAST programming has been produced since 2010, according to new Gracenote report
NEW YORK March 12, 2025 Gracenote, the content data busin...
12/03/2025
GEONA, Nev. Independent digital and linear advertising rep firm Viamedia will adopt cloud-based ShowSeeker Pilot as its primary ad campaign and order management...
12/03/2025
BRUSSELS Mediagenix has announced that Wael Yasin has joined the company as sales director Central Europe....
12/03/2025
LONDON A new study highlights opportunities for shoppable TV and the massive impact online consumer spending is having on the economy, with Omdia predicting tha...
12/03/2025
CUPERTINO, Calif. Interra Systems has announced that Comcast Technology Solutions has integrated recent updates to BATON Version 9 into its operations....
12/03/2025
Nevion announces new 400G addition to its eMerge SDN media fabric offering
Brie Clayton March 12, 2025
0 Comments
High-capacity switch enhances existi...
12/03/2025
DaVinci Resolve Studio Delivers Cinematic Sound for Adam Bol
Brie Clayton March 12, 2025
0 Comments
Feature film relies on DaVinci Resolve Studio for ...
12/03/2025
SVT Leverages Ateliere Live to Pioneer 100% Software-Defined Production at Rally...
12/03/2025
Berklee Awards Fenway Neighborhood Improvement Grant to Four Organizations A total of $17,000 will be distributed among the Boston-based nonprofits.
By
Madd...
12/03/2025
TVBEuropes Jenny Priestley sits down with new SMPTE president Richard Welsh to discuss his aims for the organisation going forward, its efforts to attract a you...
12/03/2025
The new process has significantly enhanced operational efficiencies, with automation freeing up creators to concentrate on higher value tasks
By Matthew Corrig...
12/03/2025
Jellyfish Pictures, which has offices in London and Sheffield, said it has been battling hard in the face of strong headwinds over the last 12 months
By Jenny ...
12/03/2025
Visit Booth #W2213 to Experience the Latest in AI-Driven Content Discovery and Workflow Automation
Bitcentral, a leader in media workflow solutions, is set to ...
12/03/2025
CHICAGO Jeff Lilly has been named WGN-TV director of technology effective March 17, 2025, according to Ric Harris, WGN-TV vice president and general manager....
12/03/2025
MOUNTAIN VIEW, Calif. A new study from LG Ad Solutions indicates that consumers want more features that would allow them to shop for products on the connected T...
12/03/2025
BOTHELL, Wash. The Alliance for IP Media Solutions (AIMS), Advanced Media Workflow Association (AMWA) and the Video Services Forum (VSF) will once again present...
12/03/2025
PHILADELPHIA Comcast announced that it has upgraded Xfinity Internet speeds for more than 20 million customers for no additional cost....
12/03/2025
Create with Maxon: Cinema 4D Fundamentals Workshop - March 12-14
Brie Clayton March 11, 2025
0 Comments
Makin' Waffles with Elly Wade
During Marc...
12/03/2025
Ottawa, Canada - March 12, 2025 - Ross Video is pleased to announce the appointment of Aaron Tunnell as Business Development Director, Cloud Solutions, reinforc...
12/03/2025
12 Mar 2025
VEON to release 4Q 2024 trading update on 20 March 2025 Dubai, 12 March 2025 - VEON Ltd. (NASDAQ: VEON), a global digital operator, today confirms ...
12/03/2025
Getting set for the Winter Olympics: Inside SVT's ongoing software-based pro...
12/03/2025
THE PLAYERS Championship 2025: AI Commentary, Shared-Reality Viewing at COSM, La...
12/03/2025
Seamless SMPTE 2110: A Discussion on Making the Move to IP Less Painful Leaders from Netflix, Monumental Sports & Entertainment, LinkedI, and Megapixel address ...
12/03/2025
Opening Doors of Perception: Meta's Ajit Ninan on Rethinking AR/MR Perceptua...
12/03/2025
With the 2025 Formula 1 season set to begin in Melbourne on March 16, Sky Sports is gearing up to deliver its most comprehensive F1 coverage yet. Following a th...
12/03/2025
Unicanal and Trece TV revolutionize Digital TV in Paraguay with Rohde & Schwarz ...
12/03/2025
Honoring Service, Celebrating Sport: Rohde & Schwarz UK Sponsors NavyFit Rugby D...
12/03/2025
New HVS-Q12 Represents a Quantum Leap in Switcher Design...
12/03/2025
Telespazio and ABS Expand Partnership to Deliver Tailored C-Band Connectivity So...
12/03/2025
ABC conducts independent audits across the TAG programs. In the March 2025 TAG s...
12/03/2025
Facebook
Twitter
LinkedIn
Moonlight: ESA program to create a satellite con...
12/03/2025
Facebook
Twitter
LinkedIn
In 2025, Thales ranks among the top 0.01% of the...
12/03/2025
Consumer show back following hugely successful first series
10 March 2025 Following a hugely successful first series, The Complaints Bureau returns to RT ...
11/03/2025
By Lucy Spicer
One of the most exciting things about the Sundance Film Festival...
11/03/2025
Salsa is making a comeback, captivating new listeners with its infectious energy...
11/03/2025
For many people, music can serve as a reflection of their roots and upbringing. ...
11/03/2025
The solution delivers reliable, scalable and secure connectivity for critical pu...
11/03/2025
SAN JOSE, Calif. Harmonic has announced that Weigel Broadcasting has deployed Harmonics VOS Media Software, which offers playout-to-delivery capabilities, inclu...