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Coronavirus's impact on the worldwide box office
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572 posts in this topic

2 minutes ago, media_junkie said:

Honestly I think 2021 will not be much better than 2020 for the theaters/studios.  I don't see the vaccine roll out going as well as they think it will.

Agreed! Though Arnold offered up a recommendation.

'Come with me if you want to live!' :applause:

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On 1/12/2021 at 2:06 PM, paperheart said:

‘No Time To Die’ Poised To Depart Easter Weekend For Fall Release

In what should not be a shocker, we are hearing that MGM/Eon’s No Time to Die is bound to move from its Easter weekend release of April 2 to some time in the fall,

As we told you earlier, MGM was moving 007 film No Time to Die to the fall and away from Easter weekend. Right now it’s going on Oct. 8. MGM just made news official.

2c ball is now in Disney's court re: Black Widow

Edited by paperheart
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On 1/6/2021 at 6:50 PM, paperheart said:

after this implosion, what will 2021 hold for US BO; back of the envelope vs 2019: Jan-Mar down 80%, Apr - Dec down 20% = $7BB +/-

image.png.e79b9aadf4c7ec0253137485875d3aac.png

well, that estimate held up for 2 weeks: now Jan - Apr down 80%, May - Dec down 20% = $6.4MM +/-  If May implodes (BW, etc) expect another $600MM to come off that estimate

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15 hours ago, paperheart said:

As we told you earlier, MGM was moving 007 film No Time to Die to the fall and away from Easter weekend. Right now it’s going on Oct. 8. MGM just made news official.

2c ball is now in Disney's court re: Black Widow

Great! I can go from not giving a :censored: on Easter to not giving a :censored: in October. 

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Although the more factual statement is WB will be the only one right now that can move a release UP - not back. It just recently moved Godzilla vs King Kong from May 21, 2021 to March 26, 2021.

Edited by Bosco685
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26 minutes ago, Oddball said:

They got some balls trying to make you pay extra for a movie on a streaming service you are already paying for. Meanwhile all the new releases on HBO are (wait for it...) included in the subscription. If Raya follows in Mulans footsteps, it will be available for purchase for $19.99 in 4K on iTunes or Blu-ray shortly. That’s straight up greed. F Disney. Families around the world have been hit hard during the pandemic and Disney is only thinking about their bottom line. While Amazon, Apple and HBO have purchased movies to add to their streaming service at no extra charge. Oh and it’s not $29.99, the cost to view the movie, (not own it) on Disney+ is $36.98. You cancel Disney’s sub a few years from now and it’s gone. Buy it on iTunes or Amazon and you can always download it.

It really is wild.

If WB did this more than a few times via HBO Max, folks would be screaming how they are stealing from moviegoers on a service people are paying to subscribe to. Disney does it, and it is just smart business to recover its costs.

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Telecom giant AT&T on Wednesday reported its fourth-quarter results, including a loss of 617,000 premium TV subscribers at DirecTV, U-Verse and A&T Now and the loss of 27,000 subscribers at its AT&T TV Now streaming service.

 

The fourth-quarter earnings include approximately $650 million of COVID-19 impacts, including $90 million of "cost reductions reflecting insurance recoveries associated with WarnerMedia business disruption recoveries offset by additional incremental expense."

 

It also includes "noncash impairment charges of $15.5 billion resulting from changes in our management strategy and our evaluation of the domestic video business," the firm said. "These changes, including our decision to operate our video business separately from our broadband and legacy telephony operations, required us to identify a separate video reporting unit and to assess both the recoverability of its long-lived assets and any assigned goodwill for impairment."


And fourth-quarter expenses include "charges of approximately $780 million from the impairment of production and other content inventory at WarnerMedia, with $520 million resulting from the continued shutdown of theaters during the pandemic and the hybrid distribution model for our 2021 film slate."

 

WarnerMedia earnings for the quarter included results for HBO and streaming service HBO Max, which gained subscribers in the final quarter of 2020, the Turner networks, including CNN, which benefited from the election year, and Warner Bros. The studio in a controversial gamble on Christmas Day released Wonder Woman 1984 in a hybrid strategy, which included HBO Max in the U.S. and cinemas where they were open.

 

Warner Bros. posted a fourth-quarter operating income decline as theatrical revenue again dropped from the year-ago period amid the coronavirus pandemic. For all of 2019, the studio had hit record annual operating income of $2.38 billion. For 2020, it reported a lower figure. One key benefit for the bottom line in 2019 had been the fact that Warners cut operating expenses by 5.6 percent, with 2020 including some lower spending on marketing of releases that didn't hit cinemas and the impact of production delays due to the coronavirus pandemic.

 

Edited by Bosco685
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19 hours ago, Oddball said:

Oh and it’s not $29.99, the cost to view the movie, (not own it) on Disney+ is $36.98. You cancel Disney’s sub a few years from now and it’s gone. Buy it on iTunes or Amazon and you can always download it.

You know, my statement above is not really correct. For Mulan and this Raya movie (and I assume eventually Black Widow), the $29.99 is just an early viewing unlock. It’s definitely not a purchase because in order to keep it, you would need to pay the monthly Disney subscription rate indefinitely. But Mulan was made available for actual purchase shortly after Disney put it out on their platform. I guess they weren’t happy with how many subscribers actually wanted to see Mulan early so they opened it up to everyone outside Disney+. That little move is definitely going to affect this new movie. It may not affect Black Widow though as that’s going to be a block party movie. A dozen fans get together and chip in a couple of bucks and one purchase is made. We can all thank Black Widow later for a COVID resurgence.

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10 hours ago, paperheart said:

you misspelled Tenet

I’m still happy they took the risk to release it in the midst of the pandemic knowing they wouldn’t come close to maxing their B.O. But it did scare off most everyone else to back up their releases. 

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The Walt Disney Co. on Thursday reported that it took a $2.6 billion hit this quarter due to the pandemic's impact on theme parks.

 

Disneyland Resort has been closed since last March. Other parks around the globe have reopened, but several have had to close and open again amid novel coronavirus case spikes in their respective countries.

 

"Disney Parks, Experiences and Products revenues for the quarter decreased 53 percent to $3.6 billion, and segment operating results decreased $2.6 billion to a loss of $119 million. Lower operating results for the quarter were due to decreases at both the domestic and international parks and experiences businesses," read the Disney earnings disclosure released prior to the Thursday earnings call. "We estimate the total net adverse impact of COVID-19 on segment operating income in the quarter was approximately $2.6 billion."

 

Disney CEO Bob Chapek said during the Thursday earnings call that Walt Disney World, which reopened last summer to reduced capacity, saw average attendance grow "significantly" into the new quarter. Chapek said capacity at the Florida theme park had been increased, which is now up to 35 percent.

 

"We have ample demand for our parks," Chapek said. He added that increasing the capacity at open parks and reopening others will be "determined by rate of vaccinations." He also said it is anticipated that masks and social distancing would be required at all theme parks through 2021.

 

Christine McCarthy, Disney chief financial officer, noted that theme parks continued to be "hard hit" by the pandemic, but noted that the company continues to be "pleased" with reservation bookings at destinations currently open. However, McCarthy said that Disneyland and Disneyland Paris are expected to stay closed through March.

 

The conglomerate has been pushing for Disneyland to be allowed to reopen in Southern California with strict new health and safety measures in place. However, Gov. Gavin Newsom has not softened on his strict stance. However, the Downtown shopping and dining district is open along with a portion of California Adventure. All rides remain closed.

 

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