It’s the beginning of 2021 and we’re still asking the question, will movie theaters survive the pandemic? Many industries were affected by the COVID-19 pandemic of 2020, but the hardest hit had to be the movie theater industry because overnight they became something like a ghost town. Whereas with restaurants they could do to-go orders or curbside service, restaurants were able to survive by restructuring how they served people. Movie theaters had no way of doing that and therefore suffered the greatest financial losses of any industry in 2020. After all, they rely on customers going to their place of business and using their services. We may never truly grasp the overall effects that the pandemic had on movie theaters, of course, financial losses have been reported each quarter since last year, but the effects run much deeper than just dollars. What it really comes down to is a way of life that we may never get back. Think about it, how many years will it be before society truly trusts being able to go to a movie theater with large crowds even with the COVID-19 vaccine being distributed now. It’s a state of mind. Much like any service when something is not safe and we can’t trust it, we generally don’t use that service anymore. In time that may be the bigger question we try to answer about movie theaters and it’s not like the Great Depression where people couldn’t simply go because they didn’t have money, people still went to the movie theater. It was still one of the few industries that people would shell out their last nickel for. This way of life, which has been threatened by this pandemic, we may never get it back, especially since we live in a technological age with so many streaming channels and other avenues to watch movies.
Just to fully understand the losses, the movie theater industry had coming into 2021, over 90% of the 5477 theaters in America were instantly closed when the first shelter orders across the US happened. The box office was down 80% compared to the year before. Those kinds of numbers literally put movie theaters out of business and it was estimated that 70% of small to mid-owned operated theaters would go out of business by the end of 2020. Larger chains were able to survive, but at great losses. AMC theatres and Cinemark, the two largest theater chains in the United States, have lost the most money, even reporting over a billion dollars in losses just in the third quarter of 2020.
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THAT NERD SHOW WEEKLY NEWS
The Survival of Movie Theaters and Why They Need to Survive
February 21st, 2021
Vol. 2
Weekly News from That Nerd Show for February 21st 2021 Featured Article: The Survival of Movie Theaters and Why They Need to Survive Film and TV News, Gaming News, Nerd Advice, Storytellers, Cosplay: Featured Cosplayers – Isley Cosplay. Movie, Gaming, and TV Reviews.
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