Cinemas worldwide have begun announcing their operation losses for 2020, with collective estimates ranging between $20 – $31 Billion. This follows after the coronavirus pandemic, which has seen an economic downturn for most nations worldwide. Millions of companies have shut their doors amid the Stay-At-Home Orders, with closures extending to theatres like AMC and SilverCity.

Nobody anticipated that the film industry would be destroyed during the COVID-19 Pandemic. However, Hollywood Studios were forced to delay multiple films as Governments demanded that entertainment venues shutdown for social distancing. Entertainment & Sporting Venues are still closed today in North America, European Union, Australia, Asia, the Middle East, and the United Kingdom. Some nations are allowing for cinemas to reopen, but reports suggest that civilians aren’t risking their safety in enclosed space.

Altering the mindset of moviegoers could become challenging for multiple brands. It’ll prove move challenging for AMC Theatres, who owns thousands of locations worldwide. Their considered the most significant property holder of cinemas & confirmed weeks ago that declined sales are forcing them into one of two options. The 1st option would see AMC Theatres enter bankruptcy, hoping that government aid would be provided over a prolonged period. The 2nd option would see this largescale brand sold to an unknown entity. Details of which option the AMC Board of Directors will initiate hasn’t been confirmed.

AMC Theatres isn’t the exclusive brand that’s been financially destroyed by the Coronavirus Pandemic. Omdia Cinemas announced that their operating profits have depleted by 70% in 2020, with those revenues being compared with the 2019 fiscal year. The CEO of Omdia Cinemas anticipated that industry losses could sustain anywhere from $20 – $31 Billion, with the lower valuation possible if governments begin reopening their cinemas. Challenges would still await Omdia Cinemas & AMC Theatres, with Hollywood Studios currently refusing to release their films if these entertainment venues open. It’s Hollywood’s way of assisting with stopping the COVID-19 Spread.

Films that are anticipated to return when cinemas are opened include Wonder Woman 1984, Black Window, and No Time to Die. The number of upcoming films would’ve been more significant if studios like Paramount didn’t release their movies for Video-On-Demand Services.