The Rise and Fall of movie theater and the streaming service industry has been a hot topic over the last few years.
The movie theater industry was among the most affected, with lockdowns, social isolation measures, and limited capacity. However, the movie theater sector is making a comeback because to the development of vaccinations and the progressive relaxing of regulations.
The suspension of new film releases during the pandemic was one of the main problems for the movie theater business. Major studios postponing the release of their high-budget movies made it difficult for cinemas to draw crowds. However, when limits are relaxed, more movies are coming out.
AMC Stock CEO Adam Aron even explained in a tweet that “Articles quoting so-called experts thinking streaming dooms movie theatres are SO fundamentally incorrect. So WRONG. Our problem is major studios released a lot fewer movies in 2021 & 2022 than in pre-pandemic years. Happily, vs 2022, the number of movies up by about 35% in 2023!”
As CEO Adam Aron stated, more than 35% more movies will be released in 2023 which is an astonishing number of films.
The movie theater business is slowly but surely recovering. Movie theaters are once again turning into a well-liked destination for moviegoers and the numbers of ticket sales are reflective of this.