Shuttered theaters, delayed releases -- COVID-19’s toll on the movie industry
DETROIT (FOX 2) - Many big films slated for release last year have been postponed until further notice as the movie industry felt the impact of the COVID-19 pandemic.
Movie theaters shuttered early into the pandemic, causing studios to delay releasing films. This means we still haven’t seen "Black Widow" or "A Quiet Place 2" or the sequel to "Top Gun."
Despite all of the postponed flicks, Christoper Nolan’s "Tenant" was released in August. Movie theaters were still closed, making it a monetary failure that led to almost 10% of the workforce at Warner Bros. Studios being laid off.
This massive realignment in the film industry will have big implications for entertainment ventures going forward, a film writer for the Associated Press said.
"Both streaming and those layoffs signify it's changing the culture of these studios and taking some of the glamour out of the film business," said Jake Coyle.
Gone are the red carpets with product placements and in-person interviews. But even more so, many of the big box office dollars have also dried up.
These changes to the film industry have studios trying to figure out what works to make money. Disney Plus ventured into one alternative last year when it released the live-action "Mulan" with a $30 streaming price.