Bob Iger, who oversaw Disney's acquisitions of Pixar, Marvel, Lucasfilm and Fox, says movie theaters as an experience won't go away.
CEO and outgoing chairman, recently told CNBC he has"very, very firm" beliefs about all of this. Put most simply, he doesn't see the human need to experience things in the real world disappearing, but there will likely be less attendance overall at the movies, and fewer — and shorter-window — theatrical releases.
The question the industry has to grapple with, Iger contends, is not whether people will continue to value the experience of going to movie theaters, but rather, the size at which the market will settle. This combination is particularly worrying for the theater industry right now due to the cost of a movie ticket in an era of rising prices, and the budget of films like"West Side Story," which cost $100 million.
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