There is no historical precedent for the financial drain that the coronavirus is about to do to the movie business, but multiple box office and financial analysts told TheWrap that the growing wave of theater closures and postponed film releases may sink 2020 domestic grosses to levels not seen since the turn of the 21st century.
Domestic grosses for 2020 may well sink below $8 billion for the first time since 2000, analysts said, while admissions may fall below 1 billion tickets sold for the first time since 1976.
This past weekend, overall grosses dropped 45% from the previous weekend, to $55.3Coronavirus Could Sink 2020 Box Office to Below $8 Billion for First Time in 20 Years
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“We still don’t know just how long theaters will have to remain closed, how many films this will affect,” Exhibitor Relations analyst Jeff Bock tells TheWrap
There is no historical precedent for the financial drain that the coronavirus is about to do to the movie business, but multiple box office and financial analysts told TheWrap that the growing wave of theater closures and postponed film releases may sink 2020 domestic grosses to levels not seen since the turn of the 21st century.
Domestic grosses for 2020 may well sink below $8 billion for the first time since 2000, analysts said, while admissions may fall below 1 billion tickets sold for the first time since 1976.
This past weekend, overall grosses dropped 45% from the previous weekend, to $55.3