Americans have been going to the movies for more than a century, but for the first time in recent history, cinemas will be shuttered for the foreseeable future. The closings have delivered a crushing effect on Hollywood, as highly-anticipated movies such as James Bond's 'No Time to Die,'
Americans have been going to the movies for more than a century, but for the first time in recent history, cinemas will be shuttered for the foreseeable future.
However, despite hovering on the brink of bankruptcy, merely a week ago, the movie theater chain announced plans to raise $500 million, which would permit it to survive into the fall. AMC operates around 1,000 theaters worldwide, with 630 of them in the U.S, employing 25,000 workers. Mark Malinowski, vice president of Global Marketing for Showcase Cinemas, told ABC News that he and his team have been meeting every day to plan for an"eventual reopening," with a plan to accommodate customers in a vastly"different world."
In an age of increasing digital streaming, Malinowski remains optimistic about the future of movie theaters. Story continues"It is important to note that the theatrical exhibition's return to ‘normalcy' may span multiple months, driven by staggered theatre openings due to government limits, reduced operating hours, lingering social distancing and a ramp up of consumer comfort with public gatherings," the statement added.Several movie theater chains are still unsure how they will move forward.
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