Milwaukee-based Marcus Corporation continues its recovery after closing theaters for months and changing people’s movie-going habits in the shock of the COVID-19 pandemic.
Marcus operates more than 80 theaters across 17 states. It also owns hotels and restaurants.inside recent situation Speaking on WPR’s “The Morning Show,” the company’s president and chief operating officer said Marcus is still recovering and looking to diversify its entertainment facilities.
“We’re two-thirds back in 2019 this year, but next year will be a little closer than the year before it,” said Gregory Marcus.
According to the entertainment industry publication Variety, world box office Sales in 2022 will be approximately $30 billion, up 27% from the previous year. But it was still 35% below its three-year average through 2019, before the pandemic closed movie theaters and made viewers more in the habit of watching movies from their couches rather than the big screen.
Part of the problem, Marcus said, is that the studio has yet to produce the film for the wide release it has done in the past few years.
“We need a complete list of movies,” he said, adding that while it’s hard to know which type of movie will ultimately hit audiences, theaters are showing a wide variety of movies, from superhero franchises to low-budget ones. Independent.
“The truth is that we need close to 100 films a year,” Marcus said.
Marcus said the company survived the pandemic with state and federal help and debt.
“Every dollar helped,” he said. “We are still working through the challenges it created.”
Looking to the future, the company is diversifying the entertainment it offers at its venues, including concerts, comedy, sports, and adding niche products such as: Live broadcast of the Metropolitan Opera Or ballet.
“80 to 90 percent will still be movies,” Marcus said, adding that the company will likely continue to explore new options for its customers. not.”
On the other hand, he said he is convinced that movie theaters will continue to be important places where people gather for entertainment, and that groups have long come together for the experience of listening to stories and music together.
“I think people forget what it’s like to go to the movies,” Marcus said. He said he himself was struck by the experience when he returned to the reopened company theater. I forgot what it’s like to pause to do something.”
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