The past year has had some serious effects on the film industry.
In the midst of the ongoing COVID-19 pandemic – and at a time when many cinemas were not open – the American box office is expected to reach a shocking new level.
After five years of annual ticket sales of more than $ 11 billion, they are expected to reach just $ 2.3 billion this year, the Associated Press reported.
This is not only 80% below 2019, according to data company Comscore, but also a nearly 40-year low, notes the AP. Worldwide, where certain areas have seen more reopens, box office sales will reach between $ 11 billion and $ 12 billion, which is still a far cry from the 2019 $ 42.5 billion mark.
“It’s a year like no other,” Jim Orr, president of home cinema distribution for Universal Pictures, told AP. “We have never seen this small business in the industry.”
Across the continent, most cinemas remained closed for six consecutive months after the beginning of spring. And while they are still dark in New York and Los Angeles, reopening in late August and early September required limited indoor capacity and few films had theatrical releases. About 35% of movie theaters are already open in the United States.
The COVID-related closures coincided with the popular summer season, which could generate around 40% of annual profits. This summer, a total of $ 176.5 million came in – a big drop from the $ 4.3 billion that the summers of 2018 and 2019 saw – mostly from pandemic-friendly drive-in cinemas.
Meanwhile, streaming services such as Netflix, Hulu and the recently launched HBO Max have entertained viewers who watch launches on their sofas. But “Wonder Woman 1984”, which premiered last weekend on HBO Max, also reached 2,100 US cinemas, grossing $ 16.7 million.
But now, with vaccines being distributed, there is hope – not to mention the classic experience of watching a movie in theaters that never goes out of style.
“I really think there is a bright light at the end of the tunnel,” Orr told the AP. “As vaccines continue to be implemented, I am 100% convinced that people will be rushing back to the cinemas when possible in their area. The model is not going away. “