It had hosted the premiere of the silent film Robin Hood, performed by Douglas Fairbanks. And launched many feature films, like the Ten Commandments by Cecil B. DeMille. In the midst of a health crisis, the Egyptian Theater in Los Angeles has been swallowed up by Netflix. The online video giant, which has freed theaters to broadcast its films, has got its hands on one of the most beautiful gems of Hollywood film heritage. Funny… or, rather, symbolic of the reversal of the balance of power underway in the sector.
Read also: The Covid-19 knocked out the American box office
To understand the magnitude of this trend reversal, Wall Street curves are sometimes better than long speeches. In one year, the market capitalization of AMC, the dominant player in film exploitation globally and in the United States, has lost 65% of its value. Those of Regal and Cinemark, the second and third largest networks across the Atlantic, fell by 85% and more than 70% respectively. At the same time, the share price
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