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Box Office Major Decline
In a report issued today, MKM Partners analyst Eric Handler says U.S. cinemas aren’t likely to reopen until the Fall given latest infection data. In addition, he now expects a “near 70% decline compared to our prior view for a 55-60% decrease” in this year’s annual box-office tally.

[Image: boxoffice.jpg]

The analyst indicates near-term outlook for exhibition related stocks remains clouded given the uncertainty about when cinemas will be able to re-open.
In addition, he says they “place a low likelihood of ‘Tenet’ opening on August 12th given a rising number of COVID-19 cases in key areas… In our view, it would be surprising to see theaters able to re-open nationwide before September, at the earliest.”
Globally he says Europe appears to be in a better position than the U.S. regarding the pandemic, but it’s likely the region won’t have any meaningful new content to show until North America is back on line. China also remains a big question mark as the government has been reluctant to make any comments about the resumption of business for the exhibition industry.
Source: THR

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