Debate just how deep the impact coronavirus will be on the U.S. economy in the coming weeks, but even the best-case scenario is bleak for a broad range of industries. It’s an awful truth that is ju…
That’s unlikely to happen for a simple financial reason: the traditional rollout of a blockbuster like “Mulan” is bound to yield more profit across the usual windows of home entertainment and pay TV than it can bypassing all that via, which can’t yet match the global footprint Disney has in theaters. In comparison, accelerating “Frozen 2” is a much smaller risk because it has already been available for users to purchase on DVD, albeit for an abbreviated period.
The movie business seems more antiquated than ever in its insistence that a dwindling audience travel to theaters for first-run entertainment that could just as easily be delivered to homes and phones. A potentially wider audience is willing to pay even more for the convenience of on-demand entertainment.
That reality is surely not lost on leading U.S. exhibitors including AMC Theatres and Regal Cinemas. Long before the pandemic, their bleak outlook has been reflected in their depressed stock prices. If the studios believe they’re going to be fine simply rescheduling all the postponed movies to late 2020 and beyond in the same release pattern they’ve always enjoyed–a rude awakening is coming.
And think of what making theater-caliber movies available via Disney Plus could represent for its own future. Granted, 28.6 million subscribers as of February means the new streaming service is already off to a great start.
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