Will summer’s blockbusters be enough to save movie theaters?
Theaters and movie studios are hoping that rising COVID-19 vaccination rates and pent-up demand for new releases will revive the industry after a devastating year.
Most indoor viewing venues have been completely closed for at least a year as the pandemic crippled industries including hospitality and entertainment. Now, film professionals are betting on summer blockbusters to relaunch the box office.
For example, “In The Heights” by actor and music creator Lin Manuel Miranda opened this week and is expected to draw audiences to theaters again.
Actor and director John Krasinski’s highly anticipated “A Quiet Place Part II”, currently in theaters, this week became the first pandemic release to exceed $ 100 million in domestic box office revenue, according to Deadline.
Originally slated to debut in theaters last March, but ultimately delayed by over a year, the film, its director tweeted at the time, “is the one you all have to see together.” Acknowledging the pandemic, Krasinski added: “Well, due to the ever-changing circumstances of what is happening in the world around us, now is clearly not the right time to do it.”
With big-budget films like Krasinski’s delayed indefinitely, global box office sales fell 72% in 2020, Shirley Li, cultural reporter for The Atlantic, told CBSN’s Tanya Rivero.
“Many big pillars and blockbusters have had to be delayed for months or more than a year, and big movie chains like AMC have closed 60 theaters. Other chains like Cineworld have lost $ 2 billion in revenue. . the pandemic, ”she said.
In its reopened form, the new world of cinema will be a little different than it was before the pandemic. The theater experience will be more digital, Li said, with customers using apps to purchase concessions instead of waiting in long lines, for example.
Movie chains also started offering private theater rentals during the pandemic, which turned out to be a lucrative strategy. It is a change that should remain permanent.
Of course, not all theaters survived the pandemic, and fans can expect to see far fewer small independent theaters than there used to be.