The global entertainment industry will take a $160 billion hit over the next five years as it slowly recovers from the coronavirus pandemic, according to a new report.
The outbreak has already whacked Hollywood studios, which have been forced to delay the release of top grossing franchises and suspend productions of summer blockbusters under shelter-in-place orders, Ampere Analysis research director Guy Bisson said Thursday.
Universal Pictures pushed back the release of “Fast & Furious 9” — the latest installment of its car-chase franchise starring Vin Diesel — from next month to April 2021, as Marvel delayed the premiere of “Black Widow” from May 1 to Nov.