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Saturday, January 22, 2022

Weekend Box Office Hits 22 Year Low as Corona Virus Fears Increase

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Jared Evan 

Professional Sports have been suspended, most live events including live concerts, plays and Broadway have been suspended, even most social clubs are closed, movies are one of the few entertainment options as coronavirus precautions are being taken in NYC and around the nation, however very few people are attending. 

Deadline reports:  the domestic weekend box office is looking to land at a level that hasn’t been seen arguably since 1998, with an estimated $58.5M as a total for every motion picture currently playing.  This would be the lowest box office since September of 1998. The box office on the weekend of 9/11 was even higher, to put things into perspective.

Coronavirus has become basically a societal cataclysm, the efforts to remain safe from the virus are leading to “social distancing” and the results are becoming devastating for everything from the economy to the way we interact with people in general. The death rate is secondary to the debilitating effects the virus has and the fact that even after recovery, you can remain a carrier and still be able to spread it. These facts alone are contributing to the rapid changes in society we are witnessing. Within a matter of days, places like Times Square have become a virtual ghost town.   

 Deadline reports: box Office analysts believe that this weekend’s wide entries of I Still Believe, The Hunt, and Bloodshot underperformed somewhere between 15% to 35% from where they were forecast to come in. Overall, the 3-day weekend looks to be off 42% from last weekend’s take of $100.7

Hollywood has also delayed releasing 3 major motion pictures: A Quiet Place Part II, Mulan, No Time to Die

Deadline also reported: While a majority of the big chains are staying open and working with new policies that maintain no more than a 50% capacity in each auditorium, there’s roughly 84 theaters that have shuttered across Canada and the US, as they either can’t pay their employees, given the low foot traffic, or due to local ordinances, which is the case for several venues in Pennsylvania like the Regal King of Prussia 17, Regal Oaks Stadium 24 and Regal Plymouth 10 in Conshohocken, PA.

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