(Zhou Xuan) faces a big test of survival. The epidemic accelerates the survival of the fittest in theaters

(Source: CCTV2 Zhengdian Finance 2020-04-28)

Recently, due to the impact of the epidemic, many listed theater companies have issued preliminary loss announcements for the first quarter. Jinyi Film and Television, Happy Blue Ocean, Huayi Brothers, etc. are expected to lose more than 100 million yuan, and Wanda Film is expected to lose more than 500 million yuan in the first quarter. A survey report on the survival conditions of cinemas by the China Film Association shows that 40% of the nearly 200 cinemas surveyed are at risk of closing down. In mid-April, Tianjin Chengtian Jiahe Cinema announced that it would close due to pressure from operating costs. Industry insiders believe that the epidemic will accelerate further integration and survival of the fittest in the cinema market.

To this,Zhou Xuan, Director of the China Film and Television Industry Research Center at the w88 casinosaid: "The epidemic may accelerate the speed of market share accumulation. What are the implications? The first is that theaters cannot operate with excessive debt, and the second is that enterprises must maintain sufficient cash reserves and good asset liquidity."

While theaters are being impacted, many new films from theaters have switched to online premieres this year, attracting widespread attention and discussion. Industry insiders believe that compared to watching movies at home, theater viewing is more irreplaceable, but more importantly, the recovery of theaters requires the continuous entry of high-quality new films into the market.

Yan Shaofei, secretary-general of the Chinese Film Association, said: "In the post-epidemic period, how to quickly restore industrial development actually depends on the continuous production of good works. We hope that the country will adopt some measures to encourage and support public welfare screenings in its policies to support the development of the film industry to encourage audiences to return to cinemas to watch movies. This epidemic is also likely to provide a turning point for the Chinese film industry and the film industry to embark on a truly healthy and high-quality development track."

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