Movies & TV / News

Box Office Expected to Drop 50% From 2019 Due to COVID-19

June 4, 2020 | Posted by Jeremy Thomas

Theater chains are of course taking a big hit due to the COVID-19 pandemic, and now we may know just how much. According to Variety, a report from research company MoffettNathanson has concluded that box office will be down 52% year-to-year from 2019.

According to the report, the 2020 box office is likely to end up at around $5.5 billion, compared to 2019’s $11.4 million. That said, this is an optimistic projection and the firm suggests that it could dip even lower if things don’t turn around soon. The number is reliant on most major theater chains opening up in July.

It is believed, per the report, that 2021 will bounce back significantly with a $9.7 billion total thanks to a stronger release slate. To be completely fair, 2020 was always expected to be down from the highs of 2019 which saw a mulitude of huge successes, led by Avengers: Endgame. But obviously it was never expected to be this low until the pandemic hit.

The author of the report noted, “Given the uncertainty around the key questions, we mention above, including sticking to July release dates, when key markets reopen and willingness of movie-goers to return before a vaccine, our estimates today are very much a work in progress with lots of volatility in the months ahead.”

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Box Office, Jeremy Thomas