It’s not a surprise but it’s still startling. According to The Hollywood Reporter, domestic box office earnings fell a disastrous 80 percent last year as a direct result of the coronavirus pandemic. Worldwide, the year-to-year decline was estimated to be “more than 70 percent.”
The domestic tally is estimated at $2.3 billion. In 2019 that number came in at $11.4 billion. Globally, the change is $11.5 compared to 2019’s $42.5 billion. THR says these tallies are the lowest in 40 years.
The year’s receipts bring another substantial change. 2020 marks the first time that China surpassed North America as the top-ranked box office market. Sourcing Comscore, the Asian nation estimated $2.7 in sales.
According to The Numbers, the top two grossing films of the year were Chinese productions. The winner, with $473 million, is The Eight Hundred, a war film directed by Guan Hu set during the 1937 Battle of Shanghai against Japan. Second place is My People, My Homeland, an omnibus film from multiple directors consisting of short, unconnected stories about modern life from different regions across China.
Third and fourth on 2020’s box office list were Bad Boys For Life and Tenet, followed by the Japanese animated film Demon Slayer: Mugen Train.
Movie theaters remain closed in New York City, the largest market in the United States. Social distancing guidelines restrict ticket sales by percentages on a state-by-state basis elsewhere in the country. In early December, Warner Bros. made the surprising announcement that they would release its 2021 slate on HBO Max concurrent with a theatrical exhibitions.
Last week, the reassuring voice of Tom Hanks said that movie theaters will “absolutely” survive the current COVID-19 crisis. However, he did suggest that there will be a sea change of what will thrive in a cinema versus streaming, which was already “a slow train coming.”
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