Page 41 - Millenial Finomics Issue 1

said that the only thing that would films were released, « AlGhasala -tors to their seats, were living not

make people feel safe going out » and «Tawam Rohi,» as well as only on their salaries but also on

to theaters will be a discovery of a few US movies such as “New tips; but since the cinemas were

a cure for COVID 19; therefore, Mutants” and “Tenet.” I have shut for months, and even now

it will take a while for cinemas personally gone to different cin- after they have reopened, the

to function normally. Howev- emas in Egypt to view most peo- number of those going to cine-

er, this doesn’t seem to be the ple who are entering theaters and mas has decreased and therefore

case; Christopher Nolan’s newly found them to be teenagers. The their tips that make a great por-

released film “Tenet” has made rest are adults, and very few, if tion of their income have also
146 million dollars worldwide, not any, elders went to the cin- decreased.

while making 20 million dollars emas. People have started going

on its first three days of release to the cinemas with a feeling of

in cinema, which shows that safety because masks are manda-

people in the United States and tory in theatre, and because they

worldwide are willing to go to respect social distancing rules.

theaters. Theaters have managed
to attract people, despite the cur- Theater companies are massively

rent fear of going out by forcing affected by the pandemic and are

those going into the cinema to losing millions. AMC, the biggest

wear masks, thus making cine- theater company in the world has

mas safer for visitors. In Egypt, lost 561.2 million dollars in its

the government has allowed cin- most recent quarter, and a huge

emas to reopen, and take 25% number of its staff lost their

of the average number of visi- jobs, because the company was

tors, to keep social distancing. In not able to pay for their salaries
Egypt, the number of individ- while losing millions. The same

uals going to cinemas has very can be said of Egypt, cinemas

much decreased. It seems that maintained their same prices as

the different theaters in Egypt before the pandemic, while hav-

are replaying movies that were re- ing to deal with the decrease of

leased before the pandemic such profit, and it is certain that many

as “Invisible Man” and “Fantasy have lost their jobs in Egypt in
Island” both of which were re- this industry. In Egypt, the staff

leased in February, two Egyptian members who lead the specta-

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