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And the USA recorded over 63,000 infections yesterday.
"The near-term outlook for exhibition related stocks remains extremely clouded given the uncertainty about when theaters will be able to re-open with new Hollywood content," he wrote. "We place a low likelihood of Tenet opening on Aug. 12 given a rising number of COVID-19 cases in key areas, such as California, Texas and Florida, along with the slowed re-opening of the New York City economy. In our view, it would be surprising to see theaters able to re-open nationwide before September, at the earliest."
https://www.hollywoodreporter.com/news/analyst-cuts-box-office-estimate-no-cinemas-before-september-1302969
sigh will this ever end!
Box office in 2020 is expected to decline by nearly 70% from the $11.4 billion taken in during 2019. That would be worse than the 55% to 60% plunge previously forecasted.
https://deadline.com/2020/07/tenet-release-unlikely-in-august-2020-movie-box-office-to-drop-70-percent-analyst-predicts-1202983984/amp/
https://deadline.com/2020/07/california-gavin-newsom-closes-restaurants-indoor-operations-in-state-1202984427/
If Hollywoodland is closing cinemas then we ain't getting any films any time soon.
+1.
https://deadline.com/2020/07/los-angeles-near-red-theat-level-coronavirus-hospitalizations-la-county-stats-1202984844/
In which case, can the rest of us have these films then please?
Normal world-wide gross minus the USA, minus most of Central & South America, minus several Asian countries (including China, the main Asian market), it means we sadly won't be able to have these blockbusters like Tenet and NTTD in Europe*.
* Not forgetting social distancing measures that will also limit the box office in countries where movies can open.
This means the fans will probably pay for multiple viewings and new people will pay just for what they want. Everyone is happy.
NTTD would be a huge flop if this business model happens. It would even struggle to earn back its budget. Same with Tenet. Both films would gross less than $400 million world-wide, probably even lower than $300 million.
5 dollars to get as many of your friends for a watch-a-long, or 5 dollars for an entire family (kids, parents, grandparents) would limit the box office by astronomical proportions. If we want this film to be the first major financial disaster of the Bond franchise, that is how you'd do it.
TL;DR, Hollywood DESPISES the fact that people can watch films at home. That's why they're pushing for digital content so that they essentially still own the film you pay for, because you only "buy" the license to watch it rather than own it like you did with physical media.
The only guarantee to NTTD or any big film going on VOD is if the studios felt safe and assured that they would actually make a worthy profit out of that. So far, they've only been willing to do that for the lower budgeted films.
When you buy a physical copy, you're still only buying the license.
I don't know how NTTD being one of the biggest flops in history can 'sound good'.
I also can't understand how people still don't realize that releasing a big-budget film during the current pandemic is impossible, whether on VOD (major risk of financial disaster) or in theaters (major markets closed).
Time to get my bingo card then!
You missed the point. The biggest difference is that the studio can't just come to your house and take all your physical media. But with streaming, they could easily just take it away.
Oh, that's most obvious. I already see the talking points.
"Haha, it flopped! Sure, EON will say it's because of COVID-19 but we all know it's just an excuse made to cover up how poorly it did!"
Cinemas. Are. Closed.
Do you understand those 3 words?
Coronavirus does not give a damn about you, or James Bond, or EON, or that there is a Bond film that is sitting on a shelf.
Until the pandemic is under control, NTTD cannot and will not be released. Any major blockbuster, for that matter, is facing the same problem.
This is precisely what I meant by my previous message. You are the living example of someone who refuses to understand the current situation. The pandemic will not magically go away because there is a new James Bond movie waiting to be released. Until the USA gets their outbreak under control, there's nothing you, me or EON can do about it. If the film has to sit on a shelf until 2022, then so be it. There are no alternatives.
In respect to the Warner Bros slate (who have been the most aggressive on theatres), this means the dominoes fall. This means that Tenet moves to either October or November. Which in turns pushes Wonder Woman to December. Then Dune goes into 2021.
I can imagine Disney sitting firm with November for Black Widow and Soul. But think MGM will get cold feet with NTTD.
Meanwhile, Tenet tickets are ons ale in Australia!!! Doesn't meant the film won't get pulled, but perhaps Warner are going to test the waters with an international release and then hold back on domestic until October/November, which would be maaaaaad!!!!