Amid the coronavirus outbreak, China’s box office has experienced a major nosedive of about $1.91 billion over the first two months of the outbreak.
Losses spiked due to the fact that the popular Lunar New Year holiday season started on January 25, much earlier compared with the usual date at the beginning of February, or in mid-February.
“An early holiday season should’ve given more time for the box office to grow,” a report from China’s Ent Group said.
But many cinemas were forced to shut down just before the Lunar New Year holiday, and Wuhan and other cities in Hubei province were locked down prior to this.
“Judging from the current situation, the film industry is not equipped to resume business yet, and we have not approved industry’s demands to resume business as of now,” said Chen Bei, deputy secretary-general of the Beijing municipal government.
Furthermore, there is a joint directive from Beijing Center for Diseases Prevention and Control and Beijing Municipal Film Bureau on February 26 which stipulates strict guidelines for cinema operators and film crews if they wish to resume business.
China’s Box Office Losses Nearly $2billiion Due To Coronavirus Crisis