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Pandemic Drops Hollywood Annual Box Office Sales To 40-Year Low

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Wednesday January 13, 2021, 3:24 p.m.

By: News On 6


Hollywood films have seen an 80% drop in box office revenue in North America this year due to the COVID-19 pandemic.

Research firm Comscore said the North American box office grossed $ 2.2 billion in 2020, up from $ 11.4 billion in 2019. This marks an almost 40-year low. The lowest box office year was 1981.

The film industry is hoping that this year will see an increase in its revenues. 274 films now have a 20-21 release date. This includes blockbusters like “No Time to Die”, “Top Gun: Maverick” and the ninth action movie “Fast and Furious”. Comscore did not release global data for 2020, but Variety said global yields fell 71%. The pandemic forced theaters around the world to close in mid-March, bringing some small and large chains like AMC Entertainment to the brink of bankruptcy. Theaters are yet to reopen in the largest US markets of Los Angeles and New York. Paul Dergarabedian, senior media analyst at Comscore, said 2020 revenue – largely from drive-ins – was cause for hope given some industry observers feared the figure would be even smaller.

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