Friday evening, in a trendy district of Beijing, not the shadow of a movie buff near the Megabox (eight screens): the cinema doors remain closed for almost a month "to avoid contagion", and no date is fixed for reopening. Most Chinese cinemas have been closed since January 24, victims of measures imposed to stem the epidemic of the new coronavirus.
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The episode comes at the worst time: the long holidays of the Lunar New Year (fell this year on January 25) usually experience a peak in cinema attendance and many blockbusters come out on this occasion. " In 2019, movie theater revenues during New Year's holidays represented between 20% and 30% of the total box office for the year, it's huge, " said Wilson Chow, industry expert for PwC. On Lunar New Year's Day in 2019, cinemas had raked in $ 240 million: revenue fell this year to $ 300,000, according to Wilson Chow.
"Destroy the film industry"
The public group China Film Group Corporation had made 8% of its annual revenues last year during this vacation. With its cinemas closed and the postponed release of films it co-produces, the epidemic " will have a definite impact " on its results, he warned. Operators of more fragile rooms could put the key under the door if the closure is prolonged, warns Wilson Chow.
The prospects are also gloomy for the biggest chains, which are panicking from internet competition. Huanxi Media, a large studio, has decided to broadcast its long-awaited comedy Lost in Russia directly online, rather than delaying its release. He teamed up with internet giant Bytedance, which paid him $ 90 million to offer the film on its Douyin and Toutiao platforms.
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Several major cinema chains - including Wanda, Bona, Dadi and Lumiere Pavilions - reacted furiously, threatening in a joint letter to boycott Huanxi's next films. For them, this precedent " amounts to deliberately destroying the film industry ".
Other studios have postponed their sine die releases and many shootings are suspended or slowed down. Producer Wanda Film's title fell 25% in one month on the Shenzhen Stock Exchange. Conversely, the online video platform iQiyi is on fire: it has advanced its film distribution program to meet the demand of Chinese confined to their homes.
Disney expecting
Dark cinema attendance has exploded for a decade: ticket sales in China (which has more than 60,000 screens) totaled $ 9.2 billion last year, compared to 1.5 billion in 2010. China was therefore in on track to dethrone the United States in 2020 as the world's largest box office market. Hope ruined by the epidemic.
The shock wave is global: the vast Chinese market has become vital for Hollywood blockbusters - and a third of the revenue in China is generated by foreign films. Disney could hope to achieve a colossal success there in the spring with its new film Mulan , a production of 200 million dollars telling the adventures of a young Chinese girl disguised as a soldier. But the American giant, already affected by the closure of its amusement parks in Hong Kong and Shanghai, admitted ignoring when it could finally broadcast Mulan .
Another victim, the theater operator and distributor Imax Corp., based in Canada: his shortfall could exceed $ 60 million. He assured in a press release betting on film releases postponed later in 2020 and on an " always high " demand for entertainment. It remains to be seen when the cinemas will finally be allowed to reopen ... and if they do not remain permanently shunned by spectators traumatized by the epidemic.
But the industry also faces stopping productions. After Jackie Chan and Dante Lam, it's Wong Kar-wai's turn to stop the production of his latest film Blossoms . The director of In the Mood for Love must bow to the reality of the risks posed by the epidemic. On the French side, Pathé says that "the magic potion is stronger than all viruses" . A press release published Tuesday announces that the filming of Asterix and Obelix: the Middle Empire, will begin on June 15 with French sequences and that the sets in China are not planned before September.
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As for James Bond, he suffered a major setback. While the worldwide promotional tour of Dying Can Wait is due to take place in April, the scheduled preview in Beijing cannot take place. Even if cinemas end up opening their doors by then, the authorities do not recommend going through China anyway.