By now the impact of the COVID-19 pandemic can be felt in practically every area of modern society. With the question now shifting from ‘How long until things return to normal?’ to ‘Is it possible for businesses to operate the same as before?’ the future has never been less certain.
The movie business, just like virtually every industry, was hit hard by the pandemic, resulting in a number of releases being shelved for future dates and studios adjusting their strategies to implement digital releases for several major titles. Most notably, Universal controversially decided to digitally release Trolls World Tour and reportedly set records as the highest grossing VOD title in terms of revenue for the studio. This willingness of studios to forgo theatrical releases coupled with the enduring social discourse around streaming eventually overtaking the theatrical business model raises the question of whether these actions are a precursor to a new norm in which movie theaters are phased out from existence.
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