The coronavirus pandemic caused the shutdown of almost everything for a certain period. So many industries and businesses got deeply affected and are still coping with the losses incurred. The business of movies also underwent this unexpected shutdown. Owing to the fast spread of this disease and the deaths occurring due to the same, many countries around the world-imposed lockdowns and curfews. This led to the complete stoppage of travel, entertainment, and other such industries because people were confined to their homes.
Due to this, the movies which were scheduled for release during this course of time, either postponed their dates of release or got a release on the OTT platform. Some of the films that were expected to become major hits of this year got great appreciation on the online platform but failed to get a theatrical release.
Upcoming Movies: Will these movies get a Theatrical Release?
Wonder Woman 1984 will either get a theatrical release during Christmas time or the viewers will get to binge the movie at their homes on HBO Max. It all depends on how the situation will take a turn in the upcoming days. While the 2017 Wonder Woman was a major hit, if this movie does not get a theatrical release, then Warner Media will not get as much profit since this is a very high budget film.
The release of some movies has got postponed to 2021. The movie Dune and the sequel to Fast & Furious have delayed their release to the year 2021. Some other movies got released or are yet to release on the online platforms.
The Increased Competition between Theatres and Online Platforms
Watching the latest movies at home with friends and family without needing to go anywhere is a comfort that the online platforms give. These became a necessity due to the pandemic but now, they have become a major contender in the theater industry. The pandemic has not yet left the world and the Covid-19 cases are still rising and have caused over 250,000 deaths in America itself. This is what makes the opening up of theatres very risky as of now. Even if a reduced number of people will be sitting there with full precautions, the online binging of movies could preferably turn out to be a better choice.
This is the reason some of the movies’ release has got delayed while some others launched on various platforms. Hamilton and The Witches have gone to Disney+ and HBO Max respectively while Disney+ gave its subscribers an option to watch Disney’s Live-Action Mulan at their homes if they pay an additional charge of $30.
The opening of theatres is very speculative right now. They might get opened and they might not get opened. If the theatres get opened, then the movies will once again get released on online platforms later while if the theaters remain closed, then the online sector will keep flourishing. Netflix has become the most sought-after OTT platform and it has seen a huge rise in its subscribers during this coronavirus pandemic. Therefore, even amongst the online platforms, Netflix emerges as the chief competitor of the theater industry. The situation of the pandemic will therefore decide, which out of these comes out as the winner.