Thanksgiving traditionally marks the start of the holiday season, when movie studios typically make a quarter of their profits for the entire year. Not this year, however, as theaters remain closed.
NEW YORK — Thanksgiving traditionally marks the start of the holiday season, when movie studios typically make a quarter of their profits for the entire year. Not this year, however, as theaters remain closed around the country due to the coronavirus pandemic. Tis the season to be jolly, but not for Hollywood where there is precious little joy right now — especially considering the long list of finished movies that aren’t being released. The new James Bond movie „No Time To Die“ was bumped first from spring to fall, only to be delayed again until next year. The film is finished, but there are too few theaters open to show it profitably. For heavily leveraged theater chains, the prospects are uncertain at best.“I think the key thing is when they can convince their audiences that it is safe to come back,“ said Howard Ellin, a partner at Skadden, Arps, Slate, Meagher & Flom who has played a key role in big media deals and become an expert at seeing what lies ahead for the movie business.
