Monday, February 22, 2021
Almost a year ago now, the pandemic outbreak disrupted the worldwide entertainment industry – and in particular, film and television production. Similar to the US, European audio-visual productions were halted, movie theaters were closed, events, premieres and entire marketing and distribution campaigns were postponed or cancelled.
Cinemas across the European Union saw a 69.0 % drop in box office numbers in 2020, accounting for a total decrease of €4 billion in revenues compared to 20191. With movie theaters on the brink of bankruptcy, postponed productions with huge increases in costs (in part due to COVID-19 safety measures), and a consumer attitude that shifted rapidly to online content consumption, the old business models will