Coronavirus Will Have ‘Disastrous’ Effects on the Movie Business

  • 📰 NYMag
  • ⏱ Reading Time:
  • 44 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 63%

Business News News

Business Business Latest News,Business Business Headlines

'It’s going to change viewing patterns. It’s going to change behavior. It’s going to change the way people consume entertainment.'

Photo: Mladen Antonov/AFP via Getty Images As concern over the spread of COVID-19 mounts, Hollywood is facing a doomsday scenario of its own: the cancelation of blockbuster-movie season.

From there, Disney pressed pause on plans for the Chinese theatrical distribution of its live-action version of Mulan — a calamity of the first order for the Mouse House, which had specifically tailored the $200 million adaptation of a Chinese folk tale to appeal to Chinese audiences and landed a rare, simultaneous Asian and North American rollout from Chinese film authorities. “The market should have been China,” says an industry executive who “begged” the studio for such a delay.

While Hollywood weighs the financial exposure of releasing its splashiest fare into a theatrical landscape hugely affected by viral panic, a growing number of top-tier media companies are maneuvering to limit their staff’s physical exposure by reigning in travel, discouraging face-to-face meetings, and pulling out of a growing number of festivals and conferences.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Until situation back to normal.

I’m pretty sure Netflix already did that...

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 111. in BUSİNESS

Business Business Latest News, Business Business Headlines