2020, the worst year for Hollywood and theaters
Translated and edited by Walter Lippmann for CubaNews.
With only a few days to go before 2020 becomes a historical reference, what many had been predicting is being confirmed: theaters in the United States had the worst box office results since 1980, the year in which the calculation of the collections began.
But if you look back at inflation and other indexes moviesof the economy, you can be sure that 2020 has been the most chaotic year, not only for U.S. movie houses, but in the history of the Hollywood film industry, the most powerful in the world.
Losses from the pandemic have been in the millions, and according to the Hollywood Reporter, box office receipts in 2020 represent an 80% drop in revenue from 2019.
If the damage was not greater, it is because US cinemas were able to function fully until mid-March, but since then they have been intermittent, with few spectators and essential isolation, while in territories like California and New York the policy of closed doors was maintained.
Also, the box office in Asian countries that exhibited films produced in Hollywood contributed to the fact that the collapse was not total, as well as the films released in streaming, an option before which some production houses have remained hesitant, waiting for the vaccines against covid-19 to end up recovering the luminous paths of the great cinematographic business.
But time is running out, capitals are contracting, and there is no lack of studios like Warner Bros. who have already announced that they will not wait for the movie theaters and will play films in 2021 by releasing them in streaming, ignoring the movie theater owners who, standing at the entrance of their theaters, continue to shout and talk about betrayal.