There is an uneasy uncertainty in the exhibition business due to the coronavirus pandemic, which is forcing filmmakers and producers to come up with alternate strategies. The only viable option before them seems to be a direct release on OTT (over the top) platforms. Few filmmakers across the globe are in talks with OTT management, while few have already opted for direct digital release.
If some reports are to be believed, Amazon held discussions with AMC Cinemas, world’s biggest theaters chain, over a potential takeover. Neither AMC nor Amazon responded to these reports.
AMC, like all movie theater companies and virtually the entire entertainment industry, has been hit hard by the novel coronavirus pandemic. In mid-April, the Leawood, Kan. company's stock was down a staggering 70% year to date. AMC also has been the subject of several reports stating that its bankruptcy was not a matter of if, but when.
With AMC's extensive theater portfolio on hand, Amazon is expected to decide to exclusively premiere its studio originals in its own theaters for a short window, giving audiences a more engaging option than their own living rooms.
This is an interesting scenario given there have been reports of most of the theaters will be shut down due to increasing demand for OTT players.