China is shutting down most of the movie theaters across the region, around 70,000 screens, in response to the Wuhan coronavirus outbreak.
A dozen or more films scheduled to be released during the start of the year have been postponed or are at risk of being postponed.China's $9.2 billion box office market, the second largest in the world, is expected to be hit with massive losses as the bulk of the country's theaters have shut down, closing more than 70,000 screens in the wake of the Wuhan coronavirus outbreak.
Sales topped $1 billion during the holiday week last year, and were expected to generate roughly as much money this year. But as the death toll from the virus reaches over 100 people, efforts intensify to limit interaction in crowded public spaces. The economic impact could be devastating, with the potential to drag down global film revenue as much as $2 billion.
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:
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
British Airways cancels all flights to mainland China as Wuhan coronavirus spreads - Business InsiderThe company apologized for the inconvenience to its customers in a statement and said the move would go into 'immediate effect.'
Source: BusinessInsider - 🏆 729. / 51 Read more »
Stocks shrug off Wuhan virus worries as focus turns to Apple and Starbucks earnings - Business InsiderThe Dow tanked yesterday to turn the index negative for the year. 'You would expect some let-up after such a big move lower,' says one analyst. Bhagavad-Gita Quotes. Digital Mandir. 🍔🍔
Source: BusinessInsider - 🏆 729. / 51 Read more »
Apple's curious comments on China coronavirus and its revenue forecast - Business InsiderApple blamed China's coronavirus for a 'wider-than-usual' $4 billion range in its revenue forecast. But the weird thing is, a $4 billion range is not actually unusual for Apple. It’s good timing It is no coincidence that this virus shows up in China where they just had months of protests in Beijing that cost the international bankers & capitalist hundreds of billions of dollars in profits techinsider That’s when you rely your factory line so much on one country, particularly one that censors information.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Facebook restricting employees' China travel amid coronavirus concerns - Business InsiderFacebook has also reportedly told its staff based in China – and those who've recently returned from trips to the country – to work from home. give me my money first., .......................is tht clearrrrrrrrrrrr......... .. i need you to conform responsible..........you are., liable., to it.....................i will kill youuuuuuuuuuuuu if you dont mind nothing...................... Should this even be news? Bhagavad-Gita Quotes. Digital Mandir. 🍔🍔
Source: BusinessInsider - 🏆 729. / 51 Read more »
American Airlines, United cancel China flights due to coronavirus - Business InsiderPlummeting demand for travel to China amid the Wuhan coronavirus outbreak poses a significant risk for airlines, one analyst said. FinPlanKaluAja1 Isn't it too late by now
Source: BusinessInsider - 🏆 729. / 51 Read more »