The entertainment industry is feeling the full effects of the Coronavirus and now movie theaters across the country are calling on President Trump and Congress to provide financial relief to the struggling industry. The coronavirus has led to the shut down of the entertainment business, closing thousands of cinemas and forcing the push-back of plenty of movies, big and small.

Variety first reported that the National Association of Theatre Owners is asking for a financial bailout so the struggling cinemas can pay rent and overheads that they would normally pay with concession revenue. They are also requesting tax benefits that will help their employees.

NATO released a statement saying the theater industry is extremely vulnerable in the present crisis. The group has said they have set aside $1 million to assist movie theater employees who are currently out of work. Details of the fund are expected to be announced in the coming days by the group.

Coronavirus is costing theaters millions in loss of revenue

NATO President John Fithian did not offer a specific dollar amount for what the movie theater industry is looking for but said that it would cost less to save the cinema industry than it would the airline industry. President Trump has suggested $50 billion dollars to rescue the airlines. The industry's workers are paid hourly. Fithian said that starting on Thursday, a majority of them would not be paid anything.

At the start of the week, American cinemas began to close nationwide, including the largest chains, AMC and Regal Cinemas. The closures came after federal guidelines limited gatherings to only 10 people. The studios have postponed a majority of March and April releases, and some May ones, too including Marvel's "Black Widow."

Coronavirus could make video-on-demand the future of film releases

The studios have turned to on-demand services as the theaters remain closed.

Universal is releasing "The Hunt," "Invisible Man," and "Emma" on Friday. Sony also announced that their newly released "Bloodshot," which was just released last Friday, will now be available for digital purchase next week. This has led to many people wondering whether the release of Movies playing exclusively in theaters for three months, will remain in place beyond the coronavirus pandemic.

Cinemas are expected to be remained closed for at least six to 12 weeks, severely shaking up the spring calendar and possibly June's lineup as well. Insiders believe that the 2020 domestic box office will see billions in lost revenue. It could be years before we see the entertainment industry actually recover from this massive financial disaster.

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