Every day Americans are beginning to feel the damage the coronavirus has inflicted upon the economy.
Now Hollywood elitists are beginning to feel the pain and all hell is breaking loose.
And Hollywood may never recover after receiving this devastating news about the coronavirus.
Many Americans are having their work hours cut and are being laid off in the face of the coronavirus outbreak.
The Trump administration is even considering sending $1,000 – $2,000 checks to every adult in order to stimulate the economy.
So far, many of the elitists in Hollywood and the entertainment industry have been able to escape the virus’s wrath entirely.
But all of that is about to change.
AMC theaters and Regal Cinema are closing over 1,000 movie theaters across the United States in response to the outbreak.
Which means movies currently playing at the box office are about to take a massive nose dive.
AMC and Regal Cinema should be applauded for making such a tough decision for their business.
Closing their theaters will bring their revenue to a grinding halt and hurt many of the staff.
But they came to the conclusion it was more important to consider the public health consequences of remaining open than generate revenue.
Needless to say, this move will have tremendous ramifications for the entertainment industry.
Actors and actresses will soon see their incomes drop rapidly and studios will lose tens of millions of dollars on their investments.
Some movies, such as the next installment of the James Bond series, had the foresight to delay the release of their film in anticipation of theaters closing.
The next few months could devastate many studios that are woefully unprepared for the crisis.
It could also mean big trouble for a handful celebrities that live extravagant lives with no concern for their finances.
We could very well witness several celebrities file for bankruptcy shortly.
What do you think?
Do you think the coronavirus will have a devastating effect on Hollywood?
Share your thoughts with Culture Watch News in the comments below.