Film industry under 5 billion due to coronavirus
The spread of the coronavirus COVID-19 and the measures taken in different countries to combat it will cause significant damage to the worldwide distribution. According to experts interviewed by The Hollywood Reporter, the cumulative losses could reach $ 5 billion. Naturally, the biggest damage will be done to the box office in the Asian region, primarily in China and South Korea. Earlier it was announced that the Chinese authorities ordered the closure of all cinemas in the country for an indefinite period, which is more than 70 thousand screens. The result was not long in coming. Between January 24 and February 23, 2020, the country's box office totaled just $ 4.2 million, up from over $ 1.76 billion a year earlier in the same period. Overall, February is considered one of the most profitable months in China due to the Eastern New Year holidays. In South Korea, which is considered the fifth largest movie market, a drop in fees compared to 2019 accounted for 70 percent. Korean experts compare this situation with the "swine flu" epidemic in 2009, when more than 80 thousand people were infected in the country. The Topic of Article: Film industry under 5 billion due to coronavirus. |
