The industry's total gross figures are expected to decline by 20% to $2.3 billion, with only Cinemark showing promising growth with a 2% trade increase. Approximately 70% of total ticket sales will stem from theatrical releases, set to generate $8.2 billion.
One hundred AMC Theater locations have begun offering 15 cent tickets for hit films in an attempt to lure customers. Food won't be sold, and guests will be required to wear masks at all times.
Cinema giants, such as Cinemark and AMC have USD 500 million to survive the crisis. Despite plans to reopen with small, genre films over the summer, theaters are concerned about the decline in theater ticket sales.