Are theaters Done For?


Covid-19 has really put a damper on most things this year. One thing that’s taking off, however, is streaming platforms. According to “Vox Media” And “Variety”, services like Netflix and Disney+ have been growing and far surpassing estimates from wall street and internal projections by a fair amount, the former bringing in 10 million new subscribers and the latter amassing a total of 60.5 million since its release late last year. Watching movies and that one series you’ve been meaning to get to has never been easier. Keep in mind though, that every coin has two sides.

As the pandemic is calling for less and less large gatherings, movie theaters have taken a huge hit. With people no longer flocking to the theaters to watch the latest blockbuster, theaters have been shutting down across the country. With little to no ticket revenue and merchandise sales, there is nothing sustaining the theaters. According to “The Verge”, AMC theaters are warning that they may run out of money by the end of 2020. 

The Disney remake of “Mulan” was slated to release in late March, only to be released much later on Disney+ on September 4th. “Tenet”, Christopher Nolan’s latest venture and saving grace for cinema around the world, had a theatrical release on September 3rd and raked in a global box office total of $350 million. The number may seem big, but dwarfs in comparison to Nolan’s other works such as “Inception” and “The Dark Knight”, which made $828 million and $1 billion at the worldwide box office, respectively.

Granted this pandemic is the main cause for the downfall of the cinema industry this year, the future may not be as bleak as you might think. Many projects are under-way, such as: “Spider-Man 3” (yet to be titled) and “Uncharted”, both from Sony and Marvel Studios winding up their production rate as well with new movies lined up for the near future. Fingers crossed?