Disney has temporarily closed its theme parks in both Shanghai and Hong Kong due to the coronavirus outbreak, and China made the costly choice to close roughly ,000 movie theaters at the start of the Lunar New York, which has weighed on shares of AMC and IMAX. Alexia Quadrani, media analyst at JPMorgan, joins “Squawk Box” to discuss how the coronavirus is affecting the entertainment industry.
In addition to airlines and travel companies that are negatively impacted by the deadly coronavirus , large-format movie theater company IMAX is also taking a hit. Shares of IMAX are down more than 4% as the Chinese government ordered distributors to cancel new film releases to discourage the public from congregating in crowded places. This move could significantly hurt IMAX’s sales in a traditionally strong holiday period. An analyst at Dougherty & Co. covering the company said “clearly our Q1 numbers will need to come down.” — Li
For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://www.cnbc.com/pro/?__source=youtube
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
» Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic
Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.
Connect with CNBC News Online
Get the latest news: http://www.cnbc.com/
Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC
Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC
Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC
Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC
More info on How the coronavirus is affecting the entertainment industry
Cineplex Provides Update on its Claim Against Cineworld
Cineplex Inc. ("Cineplex" or the "Company") provides an update to stakeholders with respect to its claim against Cineworld Group plc ("Cineworld"). As previously discussed in Cineplex's news release ...
Did you click on the Johns Hopkins COVID-19 dashboard? After billions of views the researcher behind it has earned a top prize
When the COVID-19 pandemic was brewing in Asia in early 2020, Lauren Gardner, a civil engineering professor at the Johns Hopkins University, and a graduate student saw the chance to mine the data and ...
How COVID-19 Changed Retailers’ Site Selection Strategies
Retail stores that have traditionally only been seen in malls are now moving out and finding new opportunities to establish standalone storefronts, and vice versa.
CJ ENM invests in VR concert platform AmazeVR
As part of the leading entertainment company long-term strategy to increase global competitiveness by expanding its digital and technology related business sectors including production and ...
Mobile Entertainment Market Share, Size 2022 | Business Revenue, Future Growth, Trends, Top Key Players, Business Opportunities | Forecast to 2028
Global "Mobile Entertainment Market” (2022-2028) research report is an expert examination on the flow condition of ...
The Heat: The impact of Long COVID + the UN & the climate crisis
Amid talk of the pandemic winding down, new data shows “long COVID” may linger on. Plus we’ll go to the United Nations for a conversation with one of the leaders in the fight against climate ...
Five things about covid we still don't understand at our peril
Since a new coronavirus launched the global pandemic that has now killed more than 6.5 million people - 16 percent of them in the United States alone - scientists in record numbers have devoted ...
The stigma of mental illness: What it looks like and how it's being shattered in Colorado
Such misunderstanding doesn’t help the black hole that consumes someone’s life when they’re suffering mental imbalance and even can be part of the prodding and poking that widens it, experts say. “As ...
Local influencers: How 4 people are using social media to sell themselves and promote Dayton
While stereotypes exist of influencers being shallow or selfish, for some in the Dayton region, influencer culture is another way to strengthen community. According to Influencer Marketing Hub, an ...
Hotel CEO describes how COVID altered guests' behavior
President Joe Biden declared recently that the COVID-19 pandemic is over, but it may have changed some people's behavior permanently.
COVID-19 changed how we eat out—here are the trends that are here to stay
Restaurants had to make major adjustments when dining rooms all over the world had to shut down due to COVID-19. Between delivery services and crafty outdoor seating arrangements, businesses got […] ...