It’s a Friday night and you’re looking for something fun to do with your friends. A few years ago, catching a movie would probably have been top of the list. Fast forwarding to the present day, would a trip to the movies even make the list? Much like everything else, COVID has had a significant effect on the nature of moviegoers. Many prefer a Netflix binge-fest when it comes to watching a movie. But how has that affected the movie business?

In short, significantly. According to ycharts, AMC struggles with over 5.5 billion dollars in debt as of June 2020. In fact, the theater also lost 4.6 billion dollars in profit from the pandemic alone. Theaters were described as a “ghost town” in the months following their reopening. The struggle was real for all theaters as they continued to pay rent on extensive theaters with no customers. Some thought theaters would go under altogether.

Things are looking up for the cinemas, though. Companies have begun to climb back out of the hole COVID dug. Big movies such as Top Gun: Maverick have attracted people back to theaters in the year of 2022. Additionally, 2023 is looking bright for theaters with new movies such as a new Ant-Man. Movies like this are expected to attract thousands more back into the cinema game. In conclusion, movie theaters are not where they were pre-pandemic. But there is hope for reestablishing the pre-pandemic conditions of movie theaters in the upcoming years. Only time will tell.