Hollywood is getting hit hard financially by the coronavirus this weekend, as movie theaters around the country shut their doors to help contain the spread of the COVID-19 virus.
Box offices are looking at a 21-year low, according to projected figures. Films are slated to gross $54.4 million this weekend.
The last time the weekend box office was this low was back in mid-January 1999 when the haul was $54 million. Even the weekend following the Sept. 11 terrorist attacks brought in $59.7 million.
So far, roughly 109 movie theaters have shut down in major cities. That, combined with official advisories from the Centers for Disease Control and Prevention that U.S. citizens distance themselves from others, the movie industry is grappling with weak figures.
Disney’s Onward is projected to pull in $10.5 million, securing the top spot in weekend movie earnings, but it is also Pixar’s hardest second-weekend drop in the company’s history, plummeting 73% since its debut on March 6.
Christian romantic drama I Still Believe is set to come in second place in earnings, and actor Vin Diesel’s superhero film Bloodshot will sit in third place.
President Trump declared the coronavirus a national emergency Friday, which frees up funds and federal resources to combat the spread of the virus.
“Our overriding goal is to stop the spread of the virus,” Trump said during a White House Rose Garden news conference. “This will pass … and we’ll be even stronger for it.”
To those families and citizens who are worried and concerned for themselves and their loved ones, I want you to know that your Federal Government will unleash every authority, resource and tool at its disposal to safeguard the lives and health of our people. pic.twitter.com/uVDY12vXAM
— Donald J. Trump (@realDonaldTrump) March 14, 2020
“To those families and citizens who are worried and concerned for themselves and their loved ones, I want you to know that your Federal Government will unleash every authority, resource and tool at its disposal to safeguard the lives and health of our people,” Trump tweeted Friday.
