How Coronavirus Has Impacted the Film Industry
The film industry has had one of the most interesting and creative approaches to the coronavirus outbreak. Many newly released films have moved to streaming at higher prices, and films such as Star Wars: The Rise of Skywalker and Frozen 2 have moved up their digital release date since the world is on lockdown.
However, there have been many losses due to these unforeseen circumstances. Countless film festivals, including Cannes Film Festival and South by Southwest, which generate hundreds of millions of dollars during their duration, have been canceled or have had to resort to other streaming methods. This is costing local independent festivals possibly irreversible losses to their economic success and leads to an inability to continue in the future.
Another major loss is that many films will not be released on their intended release date. Movies that have been pushed back include Wonder Woman 1984, Black Widow, Mulan, In the Heights, Fast and Furious, A Quiet Place Part 2 and No Time to Die.
But the key phrase to remember is "pushed back.” These films will all come out, and these studios will all make the same amount of money they would have, maybe even more, since more people will be jumping to get out of their house.
Yet, even after the end of quarantine, people will not want to be immediately sitting in an auditorium with dozens of other people with various states of health to see a film. This is why the people who will truly be suffering and take an economic toll from this virus are movie theater workers and owners. Some theaters in China have been slowly opening up, but with limited seating, where the closest person to you is about four seats away. This is not a sustainable idea since major studios will not want to open a film to a quarter-full house.
Once it is truly safe, the easiest way to make sure that movies keep coming out in the same way they used to is to go to your local theater. It would be a huge loss for the community if the movie theater had to shut down because there is not enough money to support it.