Huge changes underway in film industry as it reckons with streaming, pandemic impact

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Huge changes underway in film industry as it reckons with streaming, pandemic impact
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'When the pandemic came, our business dropped to zero,' one person whose family owned a movie theater said. 'It was the end.'

George Mitchell's family owned a movie theater in Niantic, Connecticut, that they were forced to close after the"When the pandemic came, our business dropped to zero," Mitchell said."It was the end."

This weekend will see the 95th edition of the Academy Awards, with films like"Everything, Everywhere All at Once" and"The Fabelmans" vying with blockbusters like"Top Gun: Maverick" for Best Picture. "The result after COVID is that we're seeing the box office concentrated in fewer movies, bigger grosses for the movies like 'Spider-Man: No Way Home,' 'Top Gun: Maverick,' 'Avatar: The Way of Water,'" Belloni said."But it's that middle and lower tier that is really struggling still."

One such movie is"Dallas Buyers Club," a 2013 independent film that earned Matthew McConaughey the Best Actor Oscar and producer Rachel Winter a Best Picture nomination.

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