02:27 GMT04 April 2020
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    Oil Prices Slump, Coronovirus Fears Send Global Economy Into Turmoil (38)
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    Current box office leader ‘Phoenix, Oregon’ has taken just $3,842 from 17 screenings, making it one of the lowest grossing films of all time, as North America’s biggest cinemas plan to close their doors for two months in the fight against the coronavirus pandemic.

    For the first time in history, the US box office has recorded zero revenue after cinemas across the country closed in an effort to stop the spread of coronavirus, with data giant Comscore failing to compile its regular weekly Hollywood report.

    In a statement the company explained that: “Due to this unprecedented situation, Comscore will be temporarily suspending our usual Sunday North American Top 10 Estimates, Global chart and commentary. We will update the status of studio reporting on Monday”.

    This follows major film distributors such as Disney declining to issue figures as many of America’s cinemas are closed. 

    Last Wednesday, just 400 cinemas out of nearly 6,000 cinemas opened their doors to the public with the current number expected to be less than 300. This has led to a reported small surge in drive-in cinema attendances.

    The country’s big three cinema chains – AMC, Regal and Cinemark – announced that they would be shutting down nationwide for a period of eight to twelve weeks.

    In the meantime, cinemas are urging Washington for financial support with smaller venues warning that they could shut down forever unless something changes soon.

    On Monday, the US recorded more than 10,000 cases of coronavirus and over 133 deaths in just 24 hours, bringing the total number of cases in the country to 43,734.

    President Donald Trump has signed an executive order aimed at preventing hoarding of critical medical supplies whilst also warning that his government would take action instances of against stockpiling and excessive pricing of vital medical and personal protective equipment.

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    Oil Prices Slump, Coronovirus Fears Send Global Economy Into Turmoil (38)
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    box office, COVID-19, United States
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