2020 sees the North American box office collapse

The past year has had serious effects on the film industry.

Amid the ongoing COVID-19 pandemic – and at a time when many theaters were not open – North American box offices are expected to hit a shocking new low.

After five years of annual ticket sales of more than $ 11 billion, they are expected to reach just $ 2.3 billion this year, the Associated Press reported.

It’s not just an 80% drop from 2019, according to data firm Comscore, but also a nearly 40-year low, the AP notes. Worldwide, where some areas have seen more re-openings, box office sales will hit between $ 11 billion and $ 12 billion, which is still far from the $ 42.5 billion mark in 2019.

“It’s a year like no other,” Jim Orr, president of national theatrical distribution for Universal Pictures, told the AP. “We’ve never seen this small business in the industry.”

Across the continent, most cinemas have remained closed for six consecutive months after the spring outbreak. And while still dark in New York and Los Angeles, reopening in late August and early September required limited indoor capacity, and few films had theatrical releases. About 35% of theaters are now open in the United States.

The COVID-related shutdowns have coincided with the popular summer season, which can bring in around 40% of annual profits. This summer, a total of $ 176.5 million came – a huge drop from the $ 4.3 billion the summers of 2018 and 2019 saw – mostly pandemic-friendly drive-ins.

Meanwhile, streaming services, such as the recently launched Netflix, Hulu, and HBO Max, have entertained viewers who largely watch the releases from their sofas. But “Wonder Woman 1984,” which debuted last weekend on HBO Max, also hit 2,100 North American theaters, grossing $ 16.7 million.

But now, with the distribution of vaccines, there is hope – not to mention the classic experience of seeing a movie in theaters that will never go out of style.

“I think there is a bright light at the end of the tunnel,” Orr told the AP. “As the vaccinations continue, I have 100% confidence that people will run back to the theaters when possible in their area. The model does not go away.