The year 2020 has been a year of economic disability. Every business and economic domain has witnessed lows throughout this year. And it isn’t any different for Hollywood.
The pandemic had devastating effects on the Hollywood industry. With almost all the movie theatre shut down, the biggest Hollywood releases have been pushed their releasing date to next year or later this year.
Disney has postponed the release date for Mulan from March 26 to July 24. Warner Bros. has moved their release date for Wonder Woman 1984’s from early June to August 14. The postponing of the release date of many such films like F9, Jungle Cruise, The Eternals, Minions: The Rise of Gru and the new Ghostbusters film will cause the industry to suffer a loss of $1.8 billion in revenue.
According to the London-based research firm Gower Street Analytics, even if the theatres do open up to full business by July the North American box office revenue for 2020 will barely be able to reach the $7 billion mark.
Looks like Hollywood one of the biggest film industry in the world is are undergoing such looses during the pandemic we can’t even imagine the situation of small businesses or theatres.
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