HOLLYWOOD TAKES A HIT: Theater Closures Cause 97 PERCENT Plunge in US Box Office

Originally published at: HOLLYWOOD TAKES A HIT: Theater Closures Cause 97 PERCENT Plunge in US Box Office | Sean Hannity

The Coronavirus crisis crippled Hollywood and the US movie businesses this week, with theaters across North America recording a 97% plunge in box office receipts as viewers stay home and practice “social distancing.”

“As theaters across the country close their doors due to government mandates prohibiting large gatherings, it means that ticket sales have been reduced to almost nothing. After hitting a 20-year low over the weekend, the box office has now sunk even lower,” reports Fox News.

“According to The Hollywood Reporter, on Wednesday box office sales were only $300,000. By contrast, at the exact same time last year, ticket sales in North America made up roughly $10.7 million in revenue. That marks a historic 97 percent year-over-year decline. To demonstrate how quickly the coronavirus situation impacted the industry, the outlet reports that this time last week the box office total was $7.7 million. It is estimated that only 440 theaters in the United States remained open throughout the week,” adds Fox.

“This is an unprecedented challenge to the business,” said John Fithian, president and chief executive of the National Association of Theater Owners. “We’re looking to Congress and White House to understand this is a cultural institution where people gather.”

“We want our policy makers to know that at the end of this thing, when people have been cooped up in their house for several months, they’ll need a break to go out and do something collectively that’s affordable and fun and away from what they’ve just been through,” he said. “But we still need to be viable.”

Read the full report at Fox News.