Global 2020 Box Office Losses Total $32 Billion, New Report Says
The global cinema industry is set to lose $32 billion in 2020 due to the COVID-19 pandemic, a 71.5 percent reduction in box office revenue compared to 2019, according to Omdia’s latest Movie Windows: Adapting for the Future report. Box office revenue has dipped below $13 billion for the first time in over two decades, forcing many studios to experiment with other platforms to account for the decline in box office revenues.