Before the closure, box office tracking estimated a 94% drop for the weekend of March 6–8 compared to the same period the previous year. Later, as a result of the pandemic in Italy, on March 8, 2020, the Italian government ordered all cinemas to be closed, for up to a month. In the first two months of 2020, China's box office was down to US$3.9 million, compared to US$2.148 billion in the first two months of 2020. Following the pandemic in mainland China, 70,000 cinemas were closed in January 2020. Attendance has also been lower in other regions. Ĭountries that are pandemic hot-spots have closed or restricted cinemas and movie theaters, negatively affecting film revenue. In early March 2020, it was predicted that the global box office could lose US$5 billion as a result of the pandemic. Ī Brooklyn cinema announcing its showings in February 2020 A Quiet Place Part II 's release was subsequently postponed. It was the first time since 2007 that the top-grossing film of a given year had earned less than $1 billion and the first time a non-American film was the top-grossing film of the year. The Eight Hundred, the highest-grossing film of 2020, earned $468 million worldwide. North America saw its lowest box office weekend since 1998 between March 13–15. The Chinese film industry had lost US$2 billion by March 2020, having closed all its cinemas during the Lunar New Year period that sustains the industry across Asia. This, in turn, has created openings for independent cinema productions to receive wider exposure. Many blockbusters originally scheduled to be released since mid-March 2020 have been postponed or canceled around the world, with film productions also halted. Due to cinemas and movie theaters closing, the global box office has dropped by billions of dollars, streaming has seen a significant increase in popularity and the stock of film exhibitors has also dropped dramatically. Across the world and to varying degrees, cinemas and movie theaters have been closed, festivals have been cancelled or postponed, and film releases have been moved to future dates or delayed indefinitely.
The COVID-19 pandemic has had a substantial impact on the film industry in 20, mirroring its impacts across all arts sectors.
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