According to the data The hollywood reporterA coronavirus outbreak could bring Hollywood up to $ 20 billion in losses.
At this stage, the film industry has already lost about $ 7 billion, and taking into account the spring months, another 10 billion can be added to this number. After these periods, analysts have not yet made forecasts.
Some studios have already spent money on porting their premier premieres – like MGM with the new “James Bond”which loses about 30-50 million dollars.
Paramount Moving “Quiet Place 2” also lose about $ 30 million, and the decision to transfer the picture was taken almost a day before the release. And here are the losses Fast and the Furious 9 will be less because it was postponed two months before the premiere. However, the film, like Mulanalready lost about 5 million in advertising for the Super Bowl finals.
In addition, the studios suffer losses due to the stoppage of production of various films and series. Disney, Universal, Warner Bros., Netflix, Amazon and other studios stopped work on their projects. At the same time, many serial producers accelerated production if it was already at the final stage.
According to a source, freezing Marvel-level artwork projects will cost Disney 300-500 thousand dollars a day. Whether insurance will cover these costs is unclear.
In addition, studios massively abandoned live presentations of streaming platforms. And given the freezing of work on new series pilots, the channels may have nothing to provide advertisers in May. Usually during this period, sponsors spent about 6 million.
Financial losses, in turn, will affect sports events and theatrical productions. Broadway, according to estimates, will lose about 100 million. Local businesses, which received about $ 49 million a year from movies and TV shows alone, will also lose money.
