The Latest Blow To A Film Industry On Life Support, Regal Cinemas’ Decision To Close Its Theaters
A film industry in free fall just suffered its latest blow.
Cineworld Group, the owner of Regal Cinemas, announced that it would suspend operations at all of its locations in the U.S. and U.K. as crowded theaters continue to be seen as petri dishes for a virus that shows no sign of abating.
Studios are in no better shape. Familiar blockbuster franchises that Hollywood banks on to balance ledgers have been delayed, including the 25th James Bond film, “No Time to Die,” “Mission: Impossible 7,” and Marvel Universe’s “Black Widow” and “Wonder Woman 1984.” The billions of dollars invested in producing and marketing these films alone are sums that could make or break the studios.
Meanwhile, streaming services like Netflix, Hulu and Apple TV have capitalized on the trend of people’s spending m...