As exhibitors get set to report results from the last quarter of their annus horribilis, 2020, one Wall Street bull is predicting record box office in 2023.Eric Wold, a veteran analyst with B.
Riley Securities, acknowledged in a note to clients that exhibitors’ efforts to emerge from the abyss of Covid-19 have been hampered by the slower-than-expected vaccine rollout.
Nevertheless, he continues to believe that pent-up demand will drive a steady burst of moviegoing once theaters reopen. Benchmarking to 2019, when domestic receipts totaled $11.4 billion, he projects that box office will drop 40% in 2021 and another 7% in 2022 before surging 7% to a new high in 2023.
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