Wash Your Hands and Avoid the Walking Dude
Just in time for The Stand’s reboot comes Covid19, known to you and me in the world as the coronavirus.
Not to be confused with the beer of the same name, this biological weapon was created by the Chinese and released to the world as a way of destabilizing the economy of the United States and thus leading to the electoral defeat of China’s greatest enemy, Donald Trump.
Allegedly.
Now, the people who get paid the most by the Chinese film market, Hollywood, are freaking out as well.
Even though the virus has only infected 82,500 people worldwide and only killed 2,800 people worldwide, mostly over 60 with lung problems, Hollywood is getting on-board with the overall global economy’s panic-stricken reactions.
From the trades:
Most of the major studios have begun assembling advisory teams comprising members of their production, marketing, finance, and human resources staff to assess the potential impact of the disease. Part of their task is to figure out how staff in these affected areas can remain safe. In some cases, they’re encouraging people in areas where there are a growing number of cases to work from home, and helping to ensure the technology is in place to make that happen.
Another topic of discussion is the business ramifications of a health crisis that has the potential to grow into an epidemic or pandemic. Studios are trying to determine if they should move major releases to avoid debuting films in parts of the world where coronavirus is spreading. At the same time, they’re assessing what impact such moves will have on other movies that are scheduled to debut later in 2020 and 2021. Studio executives believe that the theater closures in China and Italy, as well as the spread of the disease in major markets such as South Korea could result in billions of dollars in lost ticket sales.
Of course, this response will be focused on films like Mulan, No Time to Die, and other films that would have the potential to be global blockbusters.
Also, if everyone is sick, or in quarantine, then no one is going to the movies, especially in geographic areas where streaming is not yet a cultural “thing” to consume films.
The “Down Trough” Impacts of Covid 19 Could be a Problem
The economic impacts of the coronavirus are easy to overstate and let’s be clear: During the Spanish Flu epidemic at the beginning of the 20th century, when people were a lot more crowded and a lot less aware of the intricacies of disease transmission, the problem was the number of people who actually died.
This time around, the stock market will drop—that’s already started happening—and with those drops, in our interconnected economic environment set up by the wizards of smart to avoid a third World War, we are in for a lot bigger problems than just people dying.
From the trades, yet again:
Studios have already canceled plans for China premieres for films such as Disney’s “Mulan” and the James Bond adventure “No Time to Die” — moves that could cost those movies tens of millions in box office revenue. Sony’s “Bloodsport” was also expected to screen in China, but that release date remains up in the air. Most of these films hadn’t gotten the official word from Chinese authorities that they would be allowed to screen in the country, but there’s little chance that will come any time soon, as movie theaters in China remain closed.
“Mulan,” a $200 million adventure film with a cast of Asian actors, was expected to resonate in markets such as China, where it may not play for weeks or months. Rival studios say they are watching to see how Disney handles the challenges of debuting the film at a time when theaters in some countries are closed and people are hesitant to spend time in public spaces, before determining what to do with their own upcoming releases. The Bond film, “Wonder Woman: 1984,” and the ninth “Fast & Furious” movie are among the major films debuting in the coming months that had planned robust international rollouts. Those could be impacted if the disease continues to spread.
Well, it ain’t Captain Tripps that will get you, it’s the lack of money in your wallet and the lack of items on shelves when the rationing really begins.
What Are We To Make of All of This?
Let us tell you what to think on this one: Hollywood is going into panic mode, just like every other industry, and the impacts of that panic will determine what happens in politics, finance, and even entertainment, for the next year.
Average people shouldn’t be panicking about the coronavirus.
Average people shouldn’t be panicking about the economic impacts of other people in power panicking about the coronavirus.
With less than .0001% of people worldwide actually dying from this virus, which is comparable to the common flu from some reports, average people should stock up on two weeks of food and water, and be prepared to watch Hollywood movies at home on physical media while all of this sorts itself out, probably by the third quarter of this year.
Just in time for the next flu season to start.
