The movie business has a reputation for being recession-proof. Even when the economy’s in a downturn, people want entertainment. But with the coronavirus pandemic ravaging the U.S. and the world, movie theaters are in panic mode seven months into the coronavirus pandemic. Big movie theater chains, AMC and Regal Cinemas, reopened their theaters to the public back in late August. But with several blockbuster movies pushed back to Christmas or to 2021, movie theater chains are shutting down across the U.S. and the United Kingdom for the second time. With the movie business competing with popular streaming services like Netflix, Disney+ and Apple+, is this the end of the movie theater business as we know it? Here’s what the movie business looks like during a pandemic, and what it will look like in the future.
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