Box office receipt data released March 19 showed a 97% decline from the week-ago period, and studios have since stopped reporting data as theater chains shut down. Some major companies have since released new movies to households for immediate streaming, while others have postponed major film premieres months into the future. Attendance at movie theaters has likely fallen 100%, the analysts said.
New York City Mayor Bill de Blasio ordered Broadway to close its doors starting March 17, pushing the theater capital's attendance to the floor after a rapid, coronavirus-fueled descent.
The National Basketball Association announced the suspension of its season on March 11 after Utah Jazz player Rudy Gobert tested positive for coronavirus. The season had been tracking closely to past years, yet stadium attendance sank to zero in about a week as games were canceled and cities called on Americans to avoid large crowds.
March's spike in US coronavirus cases prompted cities to shut bars and sit-down dining establishments. The decline documented by OpenTable data shows a gradual downtrend across most cities before the order, likely a result of heightened coronavirus fears and new cases showing up throughout the country.
While some restaurants have stayed open to serve customers with delivery orders, data obtained by JPMorgan reveals the substitute isn't gaining as the outbreak escalates. Instead, grocery delivery services soar as consumers avoid crowded stores and stock up for prolonged self-quarantines.
Even though hotel data obtained by the bank shows "more muted declines of just 25%," the downtrend in occupancy has so far only been tracked to March 14, the analysts wrote. The data "appear to be dropping fast" as governments ratchet up travel bans and calls for social distancing, they added.
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