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

Leave a Comment