What else is the corona virus killing?
It’s killing the Chinese box office.
Deadline reports that “all local film releases scheduled for the highly lucrative Chinese New Year period have been” cancelled.
This could lead to a loss in global box office receipts of upwards of $1 Billion. For the same period in 2019, the Chinese box office totatled “RMB 5.8B ($836M at today’s rates) with the month of February achieving a benchmark RMB 11.1B ($1.6B) boosted by the New Year” films.
Rumors note that the movie theaters could remain shut through the end of the month if not longer with several cities having closed all public spaces.
While the distributors are saying that they are postponing the opening of their films, the scuttlebutt is that there is government intervention going on.
This will further hurt US pictures when the theaters open up as the government will be giving local films priority.