New information from the National Association of Theatre Owners suggests 90% of movie theaters could reopen by mid-July following coronavirus closures. The movie industry has been hit hard by COVID-19, with production shutdowns, delays, and expensive safety protocols that must be enacted before work resumes. However, movie theaters have arguably had it the worst. In the United States, all have been closed since mid-March, suffering immense financial hardship as a result. AMC Theatres has even stated they're unsure they will be able to stay in business following the prolonged closures. Other chains will likely have a hard time bouncing back, too.
Even after reopening, theaters will have to contend with Video On-Demand more than they ever have in the past. During the pandemic, several studios decided to bypass theatrical releases for smaller movies in favor of VOD or streaming. In most cases, this was a success, with movie fans stuck at home willing to pay for new content. Universal's Trolls World Tour, for example, made more revenue in its first three weeks than the first movie did after five months in theaters. This led to a very public feud between Universal and AMC about the necessity of the theatrical model.
Now, it seems better times may be ahead for movie theaters. According to Business Insider, the National Association of Theatre Owners expects 90% of movie theaters worldwide to reopen in time for Christopher Nolan's Tenet on July 17. However, a new report suggests that film's release may be delayed, which could affect whether it's worth theaters reopening. AMC, for example, said in late April it wouldn't reopen unless there are new movies to show. However, that stance could have changed in the time since.
As of now, there are few movies on the summer release schedule. Disney's Mulan will premiere July 24, exactly a week after Tenet. After that, Wonder Woman 1984 will debut on August 14, with A Quiet Place II following on September 4. However, it's impossible to know if those dates will stand and how any changes will affect movie theaters reopening. If Tenet is officially delayed, it could lead to other studios following suit. At that point, it may not be viable for theaters to reopen in mid-July.
It's also difficult to predict how audiences will behave. Many people are still understandably skittish about returning to theaters with large groups of people. It also doesn't help that one theater chain, Cinemark, has already said it won't require theater-goers to wear masks. If other chains do the same, it could make people even less likely to go to theaters when they reopen. It would certainly be a good sign for the film industry if 90% of theaters open by mid-July. However, it remains to be seen if movie fans would actually show up at that time.
Source: Business Insider