By Brent Lang Executive Editor of Film and Media Movie theater closures and the uncertainty created by COVID-19 will have a devastating impact on the box office, according to a new note from research company MoffettNathanson.
The Wall Street analyst firm predicts that revenues from ticket sales will be cut in half, falling from $11.4 billion in 2019 to $5.5 billion in 2020.
That’s a 52% plunge, and it’s a drop that could be even steeper if cinemas don’t reopen in July and if summer blockbusters such as “Tenet” and “Mulan” that are supposed to debut that month get pushed back deeper into the year.
They note that it could be difficult for the studios behind those pricey films to move forward with their release if major markets such as New
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