Delayed Films Could Release on Streaming Services to Offset Box Office Nosedive

Subscription streaming services could pick up some film releases that were slated for his year, Wedbush's Michael Pachter emailed investors Monday. Streamers will face a dearth of content later in the year because productions halted with stay-at-home orders, he noted. North American box office revenue is trending down 47.6% for 2020; Q1 fell 25.4%. Wedbush expects a 96.8% Q2 plunge. The analyst doesn’t see cinema attendance levels beginning to normalize until year-end. Box office receipts for 2020 are forecast to end 47.1% lower at $6 billion, with several tentpole releases moved to 2021, when box office is forecast to rise 60%.