CHINESE THEATERS REOPEN – Not off to a great start however
Hundreds of thousands of movie theaters shuttered up for a few weeks after Coronavirus caused concerns. Recently, Chinese theaters have started reopening doors and selling tickets, foot traffic is not hopping however.
Matter of fact, the process is so slow and meandering, 500 theaters opened up to an average of one person per screening. Making the daily revenue just over 10,000$. You might be thinking that this is good, it means they can pay employees. Sure, it also means that they’re making a negative profit.
That amount of money is less than one theater made per day 4 months ago. Meaning that the percentage drop off since then is about as graceful as a nose dive.
Movie theaters were hit rather hard by the closures, while many of them expect to reopen around Easter time. Nonetheless, it will probably be a few months before people really have the money and fortitude to go back to theaters.
There is a plan however, Chinese government officials have decided to redistribute certain movies to shore up numbers. Including movies like the Avengers films, Avatar etc.
There’s no telling when exactly we should expect the US to follow suit. Even as we gear up to begin reopening things here, we should expect the same amount of numbers.