Coronavirus pandemic has affected the world like never before. In this, also comes the massive global entertainment world. With hundreds of movie releases being stalled in the span of three months, the loss is huge. Asia is one of the biggest markets when it comes to cashing in the revenue through cinema. However, this year, about 85-88% crash at the box office in Asia has been witnessed. As per MPPA, China, Japan and South Korea were the three biggest international territories. India comes on the sixth position. Italy Film Industry Resumes Operations Under Heightened Precautions Following COVID-19 Aftermath.

The pandemic started affecting various countries at a different level in the first quarter. It all obviously started affecting China which closed the cinema outings in the January 2020 itself. Soon after, it was South Korea who followed the suit. India went on to do the same in mid-march while Japan in mid-April.

As per S&P data, South Korea revenues dropped down by 65% to $140 million. Australia’s box office dipped by 32% to $110 million. Japan saw revenues go down 46.2 % $190.3 million. Outside North America, Asia-Pacific takes care of five of the top ten cinema markets. Hence, it is evident how the COVID-19 crisis has taken over the entertainment world. With no shoots in the sight yet and lockdowns still intact in many places, the loss would be more. However, staying at home is at the highest priority now and something that can’t be argued with!

(The above story first appeared on LatestLY on May 04, 2020 10:46 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).