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No one knows when our current situation will come to an end - and experts have emphasized that the timeline will be set not by the government, but by the virus - but at some point, the economy has to reopen. As Dr. Anthony Fauci has stated, there is a tipping point on lockdown measures in the United States.
Hollywood studios probably do not know any better than anyone else when moviegoers will be able to return to normal, but we are now seeing where they are placing their bets. AMC theaters are hoping to re-open by mid-June, while studios are starting to reschedule some of their tentpoles for late summer in anticipation of a return to normal, or at least normal enough to return to movie theaters.
Paramount Studios for its part is gambling that families will be ready to get out of their homes and return to theaters by July 31st, 2020, which is when the studio has rescheduled The SpongeBob Movie: Sponge on the Run. The studio, however, is being more conservative with Tom Cruise’s Top Gun: Maverick, which originally had a June release date. It’s being pushed all the way to December 23rd, knocking out an untitled Chris Pratt film, which has yet to reschedule its date.
However, I really like what Paramount is doing with A Quiet Place Part 2 by scheduling it for Labor Day weekend on September 4th. Typically, Labor Day is one of the slowest weekends of the year at the box office, but Paramount is betting that audiences will be itching to get into theaters that weekend ahead of what we all hope will be a return to school for students.
It’s worth noting that a couple of studios have not yet abandoned their earlier summer dates. Disney’s Soul is still on the docket for June 19th, while Ryan Reynolds’ still has a the 4th of July premiere date set for Free Guy. Hopefully, we will all feel free enough to get back into theaters by Independence Day. The Wonder Woman sequel, meanwhile, has been reset from June to. August 14th, as Warner Brothers also anticipates an all-clear by August.
Via Hollywood Reporter
While major studios have the resources to debut their theatrical releases early on digital and streaming platforms amid the nationwide shutdown of movie theaters due to coronavirus COVID-19 concerns, indie filmmakers are being left without an audience for their small films. Typically, film festivals give these indie films the exposure they need to build up an audience or critical acclaim.
But with film festivals cancelling left and right, indie films are the ones that suffer the most. However, Jay and Mark Duplass, who got their start in the indie filmmaking world, want to use their clout to support those indie filmmakers whose small films are left without a home.
Film festivals are more than a fancy place for high-profile filmmakers to debut their next awards contender. They’re an essential home for many indie films that otherwise wouldn’t get a chance to debut to big crowds. But with those crowds dispersed and shut up in their homes for the time being, indie filmmakers are being left with nowhere to show the small films that they worked on for years. They don’t have the resources to just drop their movies on digital platforms and even if they did, they’re more likely to get overlooked in favor of Bloodshot.
However, the Duplass brothers are attempting to lessen the financial blow that indie filmmakers are feeling by using their clout to elevate those small films. In an interview with IndieWire, Mark Duplass put out the call to indie films for a home, offering the resources of Duplass Productions to boost indie filmmakers’ works.
“[The streamers] are all doing their best overtime watching pretty much every movie that’s being submitted to them from the festivals that didn’t have their premieres. We as Duplass Brothers have also come forward to those people and said, ‘If you find a movie where you feel like ‘This is really great but it’s not there yet,’ bring it to us and we will help partner with you to make that movie what you feel like it needs to be for your service.”
While streaming platforms have been a godsend for many stuck inside, or the many people who can’t afford to go to the movie theater every week, Duplass said that not only independent filmmakers, but independent studios have been struggling to cope with the effects of the coronavirus pandemic.
“There are so many positives and negatives to where we’re at with the prominence of streamers, what they have done to places like IFC and Magnolia who’ve been around for years and who are an integral part of our ecosystem,” Duplass said. “They were really damaged by some of these acquisition prices at film festivals. We used to … sell our movies to these niche distributors, and we wouldn’t hammer them for too much money because if we did, they wouldn’t be...
Imax shares surged more than 20% as the market fell more than 2% at the open on Thursday despite massive commitments by governments and central banks to prop up economies and industry and help workers dislocated by the coronavirus pandemic.
Deadline reported Wednesday that theaters in China, where Imax has significant operations, may reopen by the end of the month.
And the National Association of Theater Owners has asked Congress for a an aid package to help workers at the hard hit industry.
Cinemark up 30%..
AMC Entertainment, however, was still down 4%.
Among other big showbiz stocks, Netflix is up 4.3%. Disney is up 1.7%, Comcast, up 1.3%. ViacomCBS is down 3.7%.
After two truly horrific day with 6%-plus losses and trading halts, today’s more modest dip – at least so far – according to one CNBC anchor, may be showing “tepid signs of lessening volatility.”
The U.S. Department of Labor this morning reported a surge of 70,000 new jobless claims for the week ending March 14, reflecting a much greater than expected number of individuals filing for unemployment insurance. The total number of initial jobless claims came in at 281,000 for the week but that number is expected to spike next week.
The European Central Bank launched a so-called Pandemic Emergency Purchase Program PEPP of 750 billion euros $818 billion worth of debt purchases to help the regional economy.
Panic selling smashed the market Wednesday, when the Dow dropped 1,338 points, or 6.% – bringing total losses since its Feb. 12 closing high near 33%,
Late Wednesday, the U.S. Senate a multi-billion aid package that expands unemployment insurance, paid sick leave and other benefits.
The New York Stock Exchange will close its trading floor and move to fully electronic trading on March 23 after two individuals tested positive for COVID-19 during screenings launched at the exchange this week.