Cinemark, the nation’s third-largest chain,
also announced its theaters would remain
closed. Chains including the Alamo Drafthouse,
Landmark Theatres, Showcase Cinemas and
Bow Tie Cinemas have closed.
New York’s Film Forum marquee, usually
adorned with titles, instead bore a paraphrased
Franklin Roosevelt quotation: “We have nothing
to fear but fear itself.”
The Alamo Drafthouse put an “Intermission”
card up on its website.
“This news – this situation – is devastating,”
the 41-theater circuit based in Austin,
Texas, wrote. “When we re-open after this
unprecedented and indefinite hiatus, it will
be in a dramatically altered world, and in an
industry that’s been shaken to its core.”
Over the weekend, ticket sales plunged to
their lowest levels in at least 20 years at U.S.
and Canadian theaters. Not since a quiet
September weekend in 2000 has weekend
box-office revenue been so low, according to
data firm Comscore.
Universal’s move could be seen as either
a watershed moment for Hollywood or an
aberration due to extreme circumstances.
With few exceptions, the major studios have
guarded the 90-day exclusivity window even
as digital newcomers like Netflix and Amazon
have challenged it. For the studios, box office
still is the primary revenue generator. Last
week, the Motion Picture Association said
worldwide ticket sales reached $42.2 billion
last year.