Cinemas at risk of bankruptcy

The coronavirus lockdown has caused huge financial damage. Postponing the opening date of US cinemas and theaters is putting big-budget movies and TV shows at risk. According to what Reuters reports, most likely the films will remain suspended and this will bring very big losses.

The cinematographers have expressed that they want to return to work and ask the authorities for compensation as the cinemas are suffering a deep crisis.

Independent producers are also looking for foreign investors to help them get back on their feet, as well as compensate staff for workers who have lost their jobs due to the pandemic.

Thousands of shoots around the world were shut down in March as Covid-19 spread across the world and governments imposed very strict measures.

Large cinemas such as AMG Entertainment, Cineworld and Cinemark have announced that they want to open their doors to the public at the beginning of July. But public health officials in Los Angeles and New York have yet to give the green light for these events to be held for visitors.

Hollywood studios need a lot of theaters to release big-budget movies, also not allowing for crowdfunding.

Film and TV productions began on June 11, but were halted because daily infections in the US were too high.

Also, the release of big-budget films has been postponed, including Disney's "Mulan" and the latest film in the James Bond film series, "No Time to Die." /Clan Plus/