As pollyannaish as it sounds, especially as the domestic 2020 box office crumbles to a historic all-time low of $2.27 billion due to the coronavirus pandemic, the global theatrical business is poised for a comeback in 2021.
However, it might take a few months.
How in God’s name can such a ridiculous projection be forecasted? Entertainment conglomerates, like AT&T, are drunk from launching their own streaming services, with visions of $500-plus share prices dancing in their heads.
Also, aren’t more movie theaters expected to close down? As bankruptcy rumors continue to swirl around AMC and Cineworld, the expectation is that the over-screened U.S.-Canada marketplace (now at 41,172) will scale back significantly by at least a minimum of 5,000 screens, per sources.