Can Movie Theaters Survive Coronavirus? | Vanity Fair

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Due to the shift of streaming media, theater performances have been postponed, and theater performances have been weakened. This century-old ceremony faces an uncertain future.

The coronavirus is disrupting the film business—weakening box office revenue and accelerating the long-term showdown between Hollywood and Silicon Valley.

Once upon a time, a few large studios spent billions of dollars to produce movies, marketed these movies and distributed them to theaters around the world. But in the past two decades, with the proliferation of content and delivery devices, the old approach has changed.

Then, more than a week ago, COVID-19 began to spread widely in the United States.

-The industry is turned upside down.

The first thing that happened was that a bunch of blockbusters were moved:

Disney’s latest Marvel superhero adventure is

Released from May 1. Before that, Disney has news

Originally scheduled to be released on March 27. Same as above

That is

From April 10 to the day before Thanksgiving; Paramount’s

; 20th Century Studio

; And Universal

,Newest

Franchise. It is estimated that the combined box office of these films will exceed $1 billion.

A film studio executive said, “For movie theaters, this is a comeback year.” “AMC, rich people, companies like this, they are in big trouble. Because of the streaming function, we have The people watching at home set the dining table, but now we are in a situation where there will be no major movie events until the end of May. What will the theater do?” The executive pointed out that when the market rebounded briefly on Tuesday, Cineworld, which owns Regal, continued to fall.

An AMC spokesperson declined to comment.

The partners of Emagine Entertainment are optimistic about the long-term. The company has 25 theaters and nearly 300 screens in Michigan, Illinois, Minnesota and Wisconsin. Goldstein said: "I think we all agree that this will lead to a recession." "Whenever there is a recession, whether it is in 1987, 2001 or 2008, the box office in the second year will grow by double digits."

In order to indicate that everything may not return to the state before Corona, Universal Pictures will release its animated adventure comedy on April 10.

In the theater (assuming all theaters are still open)

-Close the so-called drama window.

Over the past few decades, as the amount of content has exploded, and content delivery has moved from theaters, TVs, laptops to iPhones, the dramatic window (time from box office release to home delivery) has shrunk. According to data from 1997, the average performance time in theaters is 5 months and 22 days.

From the National Association of Theater Owners. By 2019, it has fallen to two months and 21 days.

But that window is still valuable. According to data from the Motion Picture Association of America, last year $11.4 billion was

At the box office. The studio took on 60% of it. The rest go to movie theaters. According to Goldstein, movie theaters usually make money at the box office, selling popcorn and soda.

With the coronavirus, many theaters have closed. Those who are still open must somehow attract those who are not afraid of getting sick and who don't mind watching old movies. ("

well. "Goldstein said."

Always bring the crowd. ")

The biggest question is what will happen in the studio.

The entertainment finance professor at Loyola Marymount University predicts that when COVID-19 finally subsides, people will return to the cinema. Offenberg said: "The theater window has been closed for years, but it hasn't happened yet." "Consumers still like going to the cinema."

Served as executive vice president of creative strategy and research for Universal, and established Pool Party Creative in 2019. The company produced stage ads for customers such as Amazon and Hulu. He said that the old model must adapt to the changing market.

The studio has invested hundreds of millions of dollars in the production and marketing of blockbusters. Tech giants such as Amazon and Apple, which have relatively new entertainment businesses, focus on creating an entire content ecosystem, charging subscribers a monthly access fee.

So far, the two companies seem to have mastered a mix of entertainment technology: a technology company engaged in content production, Netflix and Disney. With the launch of Disney+, Disney became the first vertically integrated studio since the Supreme Court ruling. One, in 1948, the studio was unable to produce content and was unable to control the distribution of that content.

This mixed configuration (and way of thinking) indicates what is about to happen. Byers said: "We will experience a huge cultural domino effect across the industry."

Privately, many film industry executives want to know whether studios that have not been acquired by companies like AT&T or Viacom are capable of this top-down reorganization.

Sony Pictures' experience in 2014 foresees many changes that will happen to the coronavirus in the film business

There are about two reporters (by

Recruited by the Central Intelligence Agency (CIA) to assassinate North Korean leaders

The movie aroused Pyongyang’s anger,

Oppose US retaliation. (It is widely believed that North Korea’s attack on Sony Pictures was retribution for the film.) Sony chose not to release it in theaters, but to release it.

Play on Google Play, Microsoft Xbox and YouTube.

with

Although I cleaned up all possible box office receipts, I still managed to break even.

Co-founder of Kernel, a start-up company hired by Sony to watch videos for viewers willing to pay $5.99

Thanks to Sony for minimizing the friction between contact and purchase.

For movie theaters struggling to survive with shrinking windows and today's coronavirus era, easy home viewing may still be bad news.

Goldstein of Emagine Entertainment did not back down because of this. He said: “There are 60,000 movies out there. If you know the content and can curate for people, then we are different from streaming services.” He added that there are now some Emagine theaters, including throwing axe and 30-seat private screening room and other facilities. And, of course, they are very focused on maintaining virus-free features. "We have disinfectants everywhere," Goldstein said. "Our concessor puts on gloves. We are doing our best."

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