mean an even greater division between the
franchise films of the multiplex and the boutique
art house, with everything in between going
straight to streaming.
But after decades of slow but steady decline
in attendance, most think movie theaters will
have to innovate in a way other than raising
ticket prices.
“The outlook is pretty dire in terms of being a
major theatrical exhibitor,” says Jeff Bock, senior
box-office analyst for Exhibitor Relations. He
imagines shortened windows will mean few
films — even the Marvel releases — ascending
to $1 billion in worldwide box office. He can
see some studios, like Disney, operating their
own theaters as “mini-theme parks” with
merchandising stuffing the lobbies.
In the meantime, theaters are hoping for much-
needed relief from Congress. With the virus
surging, about 40% of U.S. theaters are open;
in New York and Los Angeles, they’ve stayed
shut since March. Chains have taken on loans
to stay afloat and avert bankruptcy. Cineworld,
owner of Regal Cinemas (currently entirely
closed) announced a deal for a $450 million
rescue loan.
It will be a very different holiday season —
usually the most lucrative corridor in theaters —
for the movie business. How different 2021 and
beyond will be remains to be seen. Some things,
though, may never change.
“If you’re going to be in this business, no matter
what you do or where it plays, whether it’s
streaming or in cinemas, you’re going to make
hits and you’re going to make flops,” says Guber.
“The idea is to make more hits than flops.”