Effects of Coronavirus (COVID-19) On Entertainment & Tourism Industry

[Cup_Of_Coffee]

This is a few days old, but was never brought up and is a fairly significant move. All staff, including corporate and the CEO, have been furloughed at AMC Theaters. I think this really underscores how bad things are for them and kind of gives some credence to what people have been saying about them possibly not making it through this.

I’m very worried for movie theatres. I think what happens now is that all the national movie chains merge to 1, and the other distributors are now just different steaming sites and VOD. I don’t see movie theatres opening until the very end of 2020 at the earliest, I don’t see any other way for the movie theatres so survive.

 

[OLSinFLA]

There's the possibility of studios owning theaters again. They are working the revoke the old Paramount ruling as theaters have much more competition now. I can't imagine them buying a whole chain but I can see them owning theaters in major market

 

[SeventyOne]

Universal should be in one of the easiest positions to postpone their next park and allocate cash to invest in current parks to keep things afloat. The depression is gonna crush everyone.

Based mostly on the park's history/corporate culture, I think the opposite is true. I expect they'll go full-steam ahead on EU--positioning themselves to have the shiny new Orlando toy when the inevitable recovery is in full swing--while counting on the twin lifejackets of HHN and Mardi Gras to prop up the existing parks. (That new JP coaster should excite the general audience as well, even as super-fans yawn.) I do think MG 2021 will re-use 2020's floats (and surplus beads), and HHN 31 may be a bit value-engineered, and there will be a plethora of discounts on APs and hotel rooms, but this is how Universal has responded to adversity for over two decades.

 

[HandsomePete]

Yeah, Universal already has a history of building itself out of a downturn with Hogsmeade. Given that they have Comcast to lean back on, I wouldn’t be surprised if one of their options is to not just be aggressive with EU but with land acquisitions between their two chunks of land if/when hotels, restaurants, and strip malls struggle to stay afloat. There’s real opportunity for them to buy up and scrape that section of I Drive if they choose.

 

[JoeCamel]

Yeah, Universal already has a history of building itself out of a downturn with Hogsmeade. Given that they have Comcast to lean back on, I wouldn’t be surprised if one of their options is to not just be aggressive with EU but with land acquisitions between their two chunks of land if/when hotels, restaurants, and strip malls struggle to stay afloat. There’s real opportunity for them to buy up and scrape that section of I Drive if they choose.

Cash is and will be king if you have it. To bad the Bob sparring went on for Sky and they are strapped for cash right now. That ISP/Cable network is looking like a pretty good thing to have right now though.

 

[Scott W.]

 

[fryoj]

I mean in order for a depression to hit we need things like the banks to fail so yeah I'd chill it on that front.

As much as I hate referencing Politico, Mortgage companies might be the first sign of that. They all just got bailed out in the last recession. There will be some pushback from bailing them out again.

The next financial crisis: A collapse of the mortgage system

The mortgage finance system could collapse if the Fed doesn’t step in with emergency loans to<b> </b>offset a coming wave of missed payments from borrowers crippled by the coronavirus pandemic.

www.politico.com

 

[Disneyhead]

For HHNs, Universal could give out special printed HHN30 face masks. It could be this year's diffraction glasses.

 

[Tobias]

So in a little Disney update, the earliest anyone can make reservations at WDW is June 1st.

 

[Nick]

This is one of those situations where I hate that I was right. Of course, I suppose it’s possible to open the parks before the hotels.

 

[n i c k]

As much as I hate referencing Politico, Mortgage companies might be the first sign of that. They all just got bailed out in the last recession. There will be some pushback from bailing them out again.

The next financial crisis: A collapse of the mortgage system

The mortgage finance system could collapse if the Fed doesn’t step in with emergency loans to<b> </b>offset a coming wave of missed payments from borrowers crippled by the coronavirus pandemic.

www.politico.com

What’s wrong with Politico?

 

[Teebin]

.

 

[Lucky Planet]

For HHNs, Universal could give out special printed HHN30 face masks. It could be this year's diffraction glasses.

i mentioned this before lol, skull themed gas masks and ventilators.

 

[Cup_Of_Coffee]

June 1st does seem possibly correct for the world... we can only hope it so for the US as well.

Considering we seem to act 2-3 months behind on everything, I’d give us till Labor Day with those estimates.

 

[Moose84]

Considering we seem to act 2-3 months behind on everything, I’d give us till Labor Day with those estimates.

Forgive me but you may be one of the most negative people on these boards. It’s almost as if you hope for the worst secretly. Sorry but I’ve bit my tongue for a bit but let it go man the US is better off than many and will come out of this aggressively better than most. I get it it you would rather be the voice screaming this is the end for whatever reason but most of us, I hope, believes this is merely a new beginning. Without the bad we wouldn’t realize the good. This will be a wake up call for everyone to stop the bull crap petty disagreements and start realizing we are still one country. We will be stronger for this. Alas though some will continue screaming well more bad things to come so let’s freak out forever, don’t be this, but most of us would prefer to just continue to live, be happy, and do the best in life we can.

Lastly the outlandish over projections are being pulled back and exponentially lowered so if you honestly believe that shutting the country down will have no consequence minus saved lives trust me things can be much worse with no one having anything to go back to from the economical downfall that could be far worse than this virus ever is. No jobs, lost homes, divorces, depression, drugs use on the rise, alcoholism, possessions lost, families split, gun violence(sales are on the rise but I still support and me and the wife are weapons owners with a hidden and locked safe so are responsible), and much more bad. Losing everything can feel like you’ve already died. You want dark days those would get dark very fast.

Sorry to the rest of the thread for the rant I’m done now was just sick of negative.

 

[PerceptiveCoot]

Forgive me but you may be one of the most negative people on these boards.

I'm sorry, but why single out Cup_Of_Coffee, when multiple other members on the board have similarly expressed disappointment about our country's handling of the situation. I think the worst you can say about his comment is that it's a sardonic joke.

Also, I can't help but blind positivity isn't necessarily warranted in this situation. The US currently leads in total infections (with thousands of infections likely unaccounted for) and people are already losing their jobs. No matter what happens, from the present moment, this crisis will have ramifications on our economy. Cup_Of_Coffee, as he has expressed multiple times on the forums, also has some respiratory issues that might make him more susceptible to this virus. I don't genuinely think that he's hoping for the worst, I think he's just trying to cope as we all are.

I get and sometimes appreciate the sentiment that we should strive for positivity in these trying times, but people also need to be allowed to express their frustration. Being honest about one's feelings is often healthier than pretending everything's great 24/7.

EDIT: I understand that it might be frustrating to see so much negativity on the forums, especially when these forums are often an outlet for excitement and joy about the theme park industry. But given the current state of theme parks, negativity is sort of inevitable, especially in a thread with this title. Until this crisis blows over, that unfortunately won't change. I'd say that, irrespective of any actual or perceived ill-intent on the part of posters, if these forums aren't currently helping your peace of mind in the current climate, it might be best to step back from this thread. I apologize if this seems directed at anyone specifically, it's a consideration I've been making as well and something I think everyone should consider if they're feeling overwhelmed by the crisis.

EDIT 2: Can't believe I forgot about the Positivity Thread:

http://forums.insideuniversal.net/threads/covid-19-emotional-support-positivity-only.14649/

 

[bob albert]

Forgive me but you may be one of the most negative people on these boards. It’s almost as if you hope for the worst secretly. Sorry but I’ve bit my tongue for a bit but let it go man the US is better off than many and will come out of this aggressively better than most. I get it it you would rather be the voice screaming this is the end for whatever reason but most of us, I hope, believes this is merely a new beginning. Without the bad we wouldn’t realize the good. This will be a wake up call for everyone to stop the bull crap petty disagreements and start realizing we are still one country. We will be stronger for this. Alas though some will continue screaming well more bad things to come so let’s freak out forever, don’t be this, but most of us would prefer to just continue to live, be happy, and do the best in life we can.

Lastly the outlandish over projections are being pulled back and exponentially lowered so if you honestly believe that shutting the country down will have no consequence minus saved lives trust me things can be much worse with no one having anything to go back to from the economical downfall that could be far worse than this virus ever is. No jobs, lost homes, divorces, depression, drugs use on the rise, alcoholism, possessions lost, families split, gun violence(sales are on the rise but I still support and me and the wife are weapons owners with a hidden and locked safe so are responsible), and much more bad. Losing everything can feel like you’ve already died. You want dark days those would get dark very fast.

Sorry to the rest of the thread for the rant I’m done now was just sick of negative.

The reality is the virus causes exponential disruption. The reality is that a lot of businesses did not save up enough cash to exist while experiencing that disruption. It being not as bad as we thought means that we "overreacted" enough to keep the spread down which is a good thing.

 

[Moose84]

I'm sorry, but why single out Cup_Of_Coffee, when multiple other members on the board have similarly expressed disappointment about our country's handling of the situation. I think the worst you can say about his comment is that it's a sardonic joke.

Also, I can't help but blind positivity isn't necessarily warranted in this situation. The US currently leads in total infections (with thousands of infections likely unaccounted for) and people are already losing their jobs. No matter what happens, from the present moment, this crisis will have ramifications on our economy. Cup_Of_Coffee, as he has expressed multiple times on the forums, also has some respiratory issues that might make him more susceptible to this virus. I don't genuinely think that he's hoping for the worst, I think he's just trying to cope as we all are.

I get and sometimes appreciate the sentiment that we should strive for positivity in these trying times, but people also need to be allowed to express their frustration. Being honest about one's feelings is often healthier than pretending everything's great 24/7.

EDIT: I understand that it might be frustrating to see so much negativity on the forums, especially when these forums are often an outlet for excitement and joy about the theme park industry. But given the current state of theme parks, negativity is sort of inevitable, especially in a thread with this title. Until this crisis blows over, that unfortunately won't change. I'd say that, irrespective of any actual or perceived ill-intent on the part of posters, if these forums aren't currently helping your peace of mind in the current climate, it might be best to step back from this thread. I apologize if this seems directed at anyone specifically, it's a consideration I've been making as well and something I think everyone should consider if they're feeling overwhelmed by the crisis.

EDIT 2: Can't believe I forgot about the Positivity Thread:

http://forums.insideuniversal.net/threads/covid-19-emotional-support-positivity-only.14649/

I guess you missed my optimistic points of view sounds good and when it comes to Cup_Of_Coffee I’m just asking for the negativity to stop, negativity is not a healthy coping mechanism.

 

[bob albert]

I guess you missed my optimistic points of view sounds good and when it comes to Cup_Of_Coffee I’m just asking for the negativity to stop, negativity is not a healthy coping mechanism.

This is literally wartime for the nurses or doctors on to soon to be on the front line. There is no coping with this to a point. This is reality.

 

[Moose84]

The reality is the virus causes exponential disruption. The reality is that a lot of businesses did not save up enough cash to exist while experiencing that disruption. It being not as bad as we thought means that we "overreacted" enough to keep the spread down which is a good thing.

So your asking for businesses, big and small, to save money for something no one can predict.
“Save money”
-“For what?”
“Something”
-“Well when?”
“Don’t know”
-“How much?”
“Don’t know”
-“How bad”
“Don’t know”
-“Great and thanks, I’ll get right on it”

And do you think it’s just businesses what about with finances getting wrecked, retirement funds being depleted, families unknowing. This is bigger than just businesses its also people and families that feel these things. Come on now.

I know all is going to work out fine. I promote positivity throughout my house which isn’t easy with my wife feeling tortured with what she has had to do laying employees off and loosing family business daily as well as my daughter struggling with finding things to do with no school and inability to go with friends. I own my own business which I thank god has not been effected by this yet and my wife is still working full time but this has an effect on our daughter with a lack of human interaction with neither me nor wife able to stay home. Everyone has things they are dealing with.

Oh and my wife and daughter both have asthma so this virus is constantly something I’m concerned about but both my wife and daughter, as I, like to think things are going to get better quickly and also understand things can’t stay as they are.