The mandate for social distancing that has proven essential at slowing the spread of the coronavirus will cut about $12 billion of entertainment revenue from the U.S. if the shutdown lasts until July, as President Trump signaled. “This is definitely unprecedented and turning everyone's lives completely upside down,” says Ryan Borba, managing editor at concert tracker Pollstar. Simple math suggests that a three-month shutdown at this time of year could cost that industry $7 billion of lost revenue. A complete shutdown across the U.S. will mean a $4 billion hit on the box office if they remain closed until July. It may also prompt Netflix to tighten its grip on the entertainment business with the purchase of a theater chain of its own.

Source: Forbes March 18, 2020 18:56 UTC