While most news concerning new movies is about how blockbusters are getting pushed back, there are new developments coming out little by little about how the industry is responding to the current state of the pandemic. That, it seems, is the theme for most of the top 5 news stories from the past week that I’m covering here. Some of it is bleak. But some of it is innovative and indicates a major shift in how we might go forward with entertainment.

So. Let’s see what we’ve got going on in the world of movies and entertainment this last week:

1. AMC Theaters May Be Toast.

With theaters pushing all major releases to 2021 & beyond movie theaters have taken a massive hit during the coronavirus pandemic. Almost none more so than AMC, who will remain open despite major competitor Regal closing up shop after a brief comeback. AMC had their credit rating lowered and issued the following statement in the filing; "Given the reduced movie slate for the fourth quarter, in the absence of significant increases in attendance from current levels or incremental sources of liquidity, at the existing cash burn rate, the Company anticipates that existing cash resources would be largely depleted by the end of 2020 or early 2021.” SOURCE: CBR.com

In my opinion, this was largely inevitable - even before the pandemic. Besides blockbuster event films, theater earnings have been on the decline for years, and the prevalence of streaming has been on the rise for just as long.

2. Universal Pictures & Warner Bros. have no intention of saving the theater business.

A connection to our first story, movie studios have little interest in saving the likes of AMC or others for that matter. It begs the question: Will the theater experience go the way of the dodo and make way for new film studio streaming services? Warner Bros. CEO Ann Sarnoff gave a very politically correct answer at a virtual panel at the Miken Institute Global Conference, she stated, ““I’m kind of an armchair sociologist and I believe people want to have communal experiences and especially with certain genres,” Sarnoff continued. “We’re big fans of the exhibitors. They’ve been good partners of ours for many decades. We’re rooting for them. I know it’s tough sledding right now. I’m hoping they come out on the other side, probably even stronger.” SOURCE: Comicbook.com

In my opinion, this just says that Universal, Warner Bros. will be following in DIsney’s footsteps given the performance of Disney+ and the relative success of Mulan on the platform.

3. The Mandalorian released a new shortened trailer.

The Mandalorian will start streaming on DIsney+ October 30th. You can check out the new trailer below:

In my opinion, there isn’t much new from the main trailer. But. I’m still gonna be viewing the 1st day it’s available.

4. Disney is moving towards a focus on streaming

Disney has always been more proactive than most movie studios and this case in no different. During a recent interview DIsney CEO Bob Chapek stated that COVID-19 has only accelerated the inevitable saying, “I would not characterize it as a response to Covid. I would say Covid accelerated the rate at which we made this transition, but this transition was going to happen anyway.” It will be interesting to see if others follow suit. SOURCE: Cinemablend

In my opinion, as I mentioned, this was an inevitable move considering the success of streaming, the lowered box office receipts, and the COVID pandemic. There are certainly pros & cons for audiences. Pro: You can watch films from home. Con: See Mulan’s $30 price tag & some films are made for IMAX. The question now is how sustainable that kind of model is when blockbusters start releasing on streaming as often as they did in theaters. The one-off $30 charge made sense for families in the case of Mulan, but for individual avid movie goers who are accustomed to all-you-can-watch streaming services and the introduction of movie passes these past few years, it will be interesting to see how VOD for initial blockbuster release will evolve to match prior expectations.

5. AMC To Rent out Auditoriums starting at $99.

It's an innovative move for the suffering theater chain. Pricing goes up depending on the film & what extras you would like. This offer excludes New York, Alaska & Hawaii. Despite the 20 visitor cap on the service it may not be as popular as AMC may like given many state regulations still barring groups of 10 or more. SOURCE: CNN

In my opinion, I’m not sure this will do anything to save AMC. There are still too many government restrictions to get your bang for your buck, especially in key markets like California and New York. That, and most business meetings are now taking place over Zoom calls so why pay to rent out an auditorium?