Movie theaters are on life support – how will the film industry adapt?
Since the start of the pandemic, the film industry has been in free fall.
As deaths have continued to climb, so have studio losses, with crowded theaters – once a source of collective entertainment and escapism – now seen as petri dishes for the virus.
Familiar blockbuster franchises whose summer releases studios banked on to balance bleeding ledgers have been barred from shuttered theaters. The 25th James Bond film, “No Time to Die,” the 7th “Mission Impossible,” Marvel Universe’s “Black Widow,” “Wonderwoman 1984” and Spider Man’s latest iteration, “Far From Home,” have all been delayed. The billions of dollars invested in producing and marketing these films alone are sums that could make or break the studios.
Desperate to survive, AMC – the biggest of the three mega-chains of theaters...