The two largest theater chains in the US, AMC and Regal, face impending bankruptcy amid continued lockdowns, and as Hollywood’s pipeline of films slows to a trickle.
British exhibitor Cineworld, the parent company of Regal Cinemas in the US, said on Monday that it would shutter all 663 of its theaters in the US and the UK starting October 8th.
COVID-19 has decimated global content pipelines by halting film production, canceling greenlit projects, and closing cinemas. However, the present disruptions have only accelerated transformations that were well underway.