Asia-Pacific Box Office Plunged 85 Percent in First Two Months of 2020 Amid Coronavirus

Theatrical box office in the Asia-Pacific region fell 85 percent in the first two months of 2020, an unprecedented crash brought on by the emergence and explosive spread of the new coronavirus, says a new report from S&P Global Intelligence.

As alarm over the virus radiated outwards from China in late January, many cinemas throughout the region shut down, audiences began avoiding those theaters that were still open, and distributors canceled scores of new releases. According to S&P Global, the number of films released in the APAC region in February fell 49.2 percent compared to the same period in 2019.

China, which shuttered its network of 70,000 movie screens in late January, was by far the hardest hit in the early weeks of the year. Box office in the country, usually the world's second-biggest theatrical market, fell 96.2 percent in January and February. Just over 500 Chinese movie theaters, or 4.5 of the country's total, reopened in late March, but they have sinceCinemas in South Korea, the next Asian economy to contend with a major virus flareup, began to close in early February.

In neighboring Japan, sales were down 41.4 percent, with 11.1 percent fewer new releases. Australia's box office fell just 12 percent — but the country didn't begin closing its cinemas until March. On the whole, the theatrical exhibition business in the APAC region saw additional closures throughout March — most cinemas in China, South Korea, Japan, Australia and New Zealand are now shuttered — so box office returns for the full first quarter of 2020 are expected to be even worse.

Handsome guys should chat me up... I'm bored and wanna hook up ❤️❤️

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Coronavirus Causes 85% Crash in Asia Box OfficeTheatrical box office in the Asia-Pacific region tumbled a massive 85% in the first two months of the year. The coronavirus caused cinema closures, audience hesitation, and a halving of the number …
Source: Variety - 🏆 108. / 63 Read more »

Asia stocks set to slip as investors await private survey of China's manufacturing activityThe Caixin/Markit Manufacturing Purchasing Managers' index for March is set to be out on Wednesday morning, which could provide further clues to the economic impact of the coronavirus outbreak in China. CAIXIN data will be interesting but no idea if it will be as independent as you'd like?
Source: CNBC - 🏆 12. / 72 Read more »

Pandemic to hit growth in Asia, China: World BankThe coronavirus pandemic is expected to sharply slow growth in developing economies in East Asia and the Pacific as well as China, the World Bank said in an economic update on Monday.
Source: Reuters - 🏆 2. / 97 Read more »

Asia shares edge up, China factories show flicker of lifeAsian shares managed a tentative rally on Tuesday as factory data from China held out the hope of a rebound in activity even as other countries across the globe all but shut down. Awesome 👍 all fake
Source: Reuters - 🏆 2. / 97 Read more »

The coronavirus pandemic could push 11 million people in Asia into poverty, World Bank warnsThe economic fallout from the coronavirus pandemic could drive an additional 11 million people into poverty in East Asia and the Pacific unless 'urgent action' is taken, the World Bank warned in a report released Monday. Oh, so President Trump was right? Hmmm. TrustTrump 中共间谍抢购美国市场上所有出售的口罩和防护服，就是为了配合中共在美国故意投放武汉冠状病毒，让美国人在短时间内无法防护中共病毒感染，让中共冠状病毒在美国最大限度的传播，美国应该审核所有公开拥护中共的华人间谍，否则中共间谍会利用美国的自由民主体制的漏洞，在美国持续不断的故意投毒！ Welp, China deserves it.
Source: CNN - 🏆 4. / 95 Read more »