Recent headlines about movie theatres sound like they could have been ripped from the script of a horror movie.
Cineplex stocks took a dive earlier this week after the launch of the new James Bond movie No Time to Die was postponed yet again because of the novel coronavirus health emergency. The North American release of the much-awaited 25th iteration of the Bond saga, which stars Daniel Craig, is now planned for April 2, 2021, a year after it was originally scheduled.
Superhero mega-movie Black Widow, with Scarlett Johansson, is now set to hit the theatres on May 7 of next year, instead of Nov. 6. Steven Spielberg’s West Side Story has been pushed back a year from December 2020 to December 2021. Avatar 2 suffered the same fate. Even Halloween movies are on hold.
Amid the cascade of delays, IMAX announced on Oct. 8 it would furlough 150 employees. On the same day, Cineworld Group temporarily shut down its more than 500 Regal locations across the U.S. as well as 127 venues in the U.K.