If cinemas have to close because of this, does that mean films just take no Box Office or do things pause for a while until they reopen? Or is it too soon to be asking these sort of questions?
A Quiet Place II will be a very quiet place indeed
It's -- as always -- hard to say. If it's really a huge chain or two that close, I imagine larger tentpole movies will have to pull them out of all theatres. I don't see any draconian measures like that happening in the U.S., but take a look at Italy right now. What's their film industry doing? Sure, not the biggest in the world, but what happens this upcoming weekend when people are forbidden to leave but for emergencies? Does a distribution company have an insurance policy?
The Cannes Film Festival is among a number of events in France hanging in the balance in the face of the coronavirus outbreak and the government’s recent ban on gatherings of more than 1,000 people. In the event of a cancellation, however, the festival won’t be able to rely on an insurance claim.
The festival was given the opportunity by its insurance company, Circle Group, to purchase a buy-back option covering epidemics and pandemics around 10 days ago, and surprisingly declined it, according to a source at Circle Group, a leading insurance company whose client roster also includes the Cesar Awards — France’s equivalent to the Oscars. The buy-back option represented around 6% of the total price for the insurance package.
Because Cannes has declined to take the option, the festival won’t be covered if it needs to cancel — even if organizers’ hands are forced by a governmental decree.
The film festival, which carries a budget reportedly in the €30-million ($33 million) range, is financed by French taxpayers and corporate sponsors. Organizers previously told Variety they are monitoring the situation while pursuing the selection of movies in the run-up to their April 16 press conference.