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Even after vaccinations, NYC entertainment and hospitality will, at best, survive only marginally.
New habits have been formed; old habits have been broken. Cuomo could raise the cap to 100%, and even 6-12 months from now, theatre tickets sold will NOT approach pre covid days.
I was inclined to think the same thing.
However, I think the movie going public is craving theater attendance again.
Last weekend at the box office, the movie "Godzilla vs Kong" grossed $48,500,000 across North American theaters.
This is the highest weekend gross during the pandemic.
And this gross, while much lower than what it could get before pandemic numbers, is still extremely impressive, considering many theaters have "50% capacity" or are not even fully open, across the US.
I think the box office and movie-going in general, is going to rebound robustly, once theaters fully open again. People are craving entertainment, getting out of their houses and want to return to "some normalcy again."
Even after vaccinations, NYC entertainment and hospitality will, at best, survive only marginally.
New habits have been formed; old habits have been broken. Cuomo could raise the cap to 100%, and even 6-12 months from now, theatre tickets sold will NOT approach pre covid days.
It may or may not approach pre-covid levels, but I'm willing to bet they will survive much higher than marginally. Heck, a lot of people are going crazy for movies at the theater.
Movie theaters are not going to close permanently. Maybe THAT one is, or THIS one is - but new ones will take their place - if there's a market for it, as others have suggested.
If the implication is that businesses suffer without customers - yep.
I suspect that part of the real problem is the landlord problem. Landlords have to be told, with all properties, business and residential, not just not to evict, but to take a hit and reduce the tab. LLs need to share the suffering with everyone else.
Plenty of landlords of commercial property have been absolutely hammered - they have suffered plenty.
Think of how many deranged homeless junkies a movie theater could house....the opportunities are endless.
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