1. Shutting Down of Film Theatres: Virtually, all public gathering places across industries witnessed long periods of non-functioning and inactivity. From sports arenas to churches, every mass gathering place was made temporarily inoperable. Movie theatres were no exception and were barred from playing any film shows for the public amid the spread of the virus, leaving millions of people without jobs. In some countries, cinema halls still continue to remain non-operational, while in others, they can be operated with staggered timings and limited audience.
2. Delays/Postponement of Film Releases: 2020 has been an exceptionally disappointing year for film production companies. Several production houses delayed the release dates of their films that were originally planned for a 2020 launch, with the most anticipated ones among them being the 25th James Bond film “No time to Die” (moved to an April 2021 release), DC Films’ “The Batman” (moved to a March 2022 release), Marvel’s “Black Widow” (moved to a May 2021 release), and New Line Cinema’s “The Conjuring: The Devil Made Me Do It” (moved to a June 2021 release) (source: Vulture). Apart from the ones scheduled for future releases, the ones that could not be pushed back premiered on digital platforms in absence of buzzing theatres.
3. Job Losses in the Film Fraternity: The U.S. film and television industry alone employs over 2.5 million people (source: Motion Picture Association). And undeniably, this number was affected incredibly in 2020 as the year progressed. Due to the nature of the movie business, virtually everyone working in it has a project-based earning as opposed to a regular income to rely on. A range of artists, including technicians, set designers, make-up artists, logistics providers, among others, form a large share of the workforce. And due to strict lockdowns in place, these artists suffered the worst hit within the entertainment business. According to The Guardian, approximately 120,000 out of 150,000 members of the International Alliance of Theatrical Stage Employees (IATSE) lost their jobs in Hollywood during 2020, whereas over 50,000 freelancer artists in the U.K. were estimated to lose their jobs (The Guardian).
4. Rise of Online Streaming Platforms: Amid a crumbling economy, if there’s one industry that saw huge profits and record rise in the number of active customers, it is the online streaming industry. Severe lockdowns across cities meant people had to remain indoors most of the time. With exceptions of urgent scenarios, most outdoor activities were discouraged; and taking the winds in their favour, web streaming businesses such as Netflix, Prime Video, Hulu, and Disney+, among others, were able to keep their ships sailing high. In Q3 2020, Netflix generated over 6.4 billion USD as revenue, up from its 5.2 billion USD earnings in Q3 2019 (source: Statista). In addition to soaring profits, these streaming giants are also catching up on exclusive digital releases of films. More and more producers are turning to web streaming services to launch their creations.
5. Postponing/Cancellation of Film Festivals & Award Shows: The pandemic brought a wave of disruptions in global award ceremonies, public shows, and special screenings. Some of the most anticipated film festivals including the Tribeca Film Festival, CinemaCon, Mumbai Film Festival, and the Edinburgh International Film Festival, were called off, while several others like Sundance London, Vancouver International Film Festival, and CineEurope, were hosted online (source: Screen Daily). The 93rd Academy Awards (Oscars) event has also been postponed to April 25, 2021, amid rising Covid-19 cases in the United States.
6. Drops in Revenue and Contribution to Economy: While it is difficult to estimate exactly what percentage of a nation’s GDP is contributed by its film and television industries, the biggest film markets in the world including those of the USA., China, India, and the U.K. drive in several billions of dollars, with USA’s Hollywood being the biggest of all. According to a report by the Motion Picture Association of the United States, over $181 billion in total wages was paid by the American film and television industry to its huge workforce of over 2.5 million people in 2019 (source: MPA). However, in 2020, as expected, the numbers are going to be dismal, and the economy can’t expect much to gain in taxes.
With only a month left for the year to end, 2020 has been extremely hurting to the majority of people working in the movie industry. While many filmmakers are resorting to digital modes to keep themselves afloat, the challenges and competition that lie ahead will only grow. With the world going through a disruptive and transformative phase, it will be interesting to see how the movie market regains its red carpet in the coming time!
