Global box office may take a $1 billion-plus hit as the world's second-biggest market shutters 70,000 screens while grappling to contain the coronavirus outbreak
Those cinemas that managed to stay open over the Jan. 24-26 weekend turned in a combined $2 million, according to local box office consultancy Artisan Gateway. That compares with $507 million generated over the first three days of last year's break — a holiday record that, before the outbreak, most analysts expected would be smashed this year. Notes Handler: "Who knows how long this epidemic will last? China is essentially quarantining itself. You can't fault the country.
Huanxi contends that it remains committed to the theatrical film model, but was just trying to do right by its fans and shareholders amidst a historically bad set of circumstances. Depending on how the epidemic progresses, studio tentpoles deeper into the calendar, such as Disney's live-action remake of, also could be bumped. Observers also believe that restarting China's release pipeline — whether it's weeks from now or months — will be far more challenging than shutting it down.
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