Without aiming for the COVID-19 pandemic, Hollywood’s traditional system of theatrical releases remains in turmoil. Today, the parent company announced to the theater chain Regal that all its locations in the US will cease operations on Thursday, October 8. The theaters will remain closed indefinitely.
Regal faints from twin issues: audiences hesitant to return to any form of indoor gathering place and movie studios holding back on blockbuster releases until they can knock on nine-digit payday. While many films scheduled for theatrical release since February have been released on streaming platforms, others have been delayed over and over again. With Black widow pulled back to next year, 2020 will be the first year in more than a decade without a new Marvel movie.
The move comes despite Regal running for “CinemaSafe” theaters, following the CDC guidelines for indoor meetings and following state and municipal emergency poems. Regal says the closure will affect 536 jobs and about 40,000 employees, but did not develop any measures they would take to help them. Without the revenue coming in, the permanent closure of at least some Regal theaters seems inevitable.
Source: PR Newswire via Engadget