By Jacqui McLean
Of the many things Covid-19 disrupted, the movie industry does not seem paramount. However, movies support the global economy like no other, creating millions of jobs, revenue, and companies. The disruption in movie production and distribution caused cascading effects on producers and consumers.
Avid movie watchers were disappointed to hear that dozens of anticipated movies such as Avatar, Bat Man, Black Widow, The Matrix 4, and Spider Man sequels, have all been delayed. Some release dates have been pushed out by only a few months, others by more than a year. Movies released just before, or during the current pandemic have also faced the issue of closed movie theaters. Movies that under normal circumstances would rack in millions at the box office have been forced to remain available only through streaming services. Some estimates project the revenue loss of 2020 to be as high as $17 billion.
The loss is revenue due to the inability to create new content which has forced many in the film industry to find creative workarounds. For example, the market of online streaming services has skyrocketed. The launch of Universal Pictures newest movie, Trolls World Tour, brought in $200 million solely from online streaming services. Additionally, production crews are experimenting with ways to make content entirely virtual. Reunion episodes and talk shows are already utilizing zoom to film virtually. Although the coronavirus significantly impacted the movie industry, the creative workarounds will surely lead to a more innovative thematic experience. Movie goers should look forward to the new aspects of viewing that are sure to come in the near future.