EXCLUSIVE: While many offshore markets are showing increasing signs of life as cinemas return, there are still several question marks surrounding when the majority of the world gets back to the the…
cases in the capital which doesn’t want to be seen as having botched its handling of the crisis. As USC professor Stanley Rosen tells us, “The whole country runs on Beijing time… It’s all about social stability, which ensures political stability, so the film industry becomes collateral damage in that calculation.”for reopening,” Jerry Ye, Chairman of Huaying Tianxia Film Development, said during the Cannes Virtual Market last week.
However, while it does seem that the virus cases are very localized and that most activities are getting back toward something resembling normality, authorities “are being very careful about entertainment venues, particularly indoor entertainment,” Rosen notes. “They don’t want to announce a date and then have to be embarrassed by another postponement.”
Cinemas have been closed since late January in the world’s second largest box office market, and estimates are that grosses will be down by at least $4B in 2020, a number that could rise if theaters don’t come back soon.
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