As the coronavirus pandemic sweeps across the world, major movies have had to halt production or postpone their releases, and it's taking a substantial financial toll on the entertainment industry. According to The Hollywood Reporter, Hollywood could be hit with a $20 billion loss this year due to the impact of coronavirus-related decisions across film and television.

Every day, we learn of numerous studio shutdowns, release dates being substantially delayed, and productions being suspended. On a smaller scale, the financial impact is already staggering, for instance, No Time to Die's delay could mean a $30 to $50 million hit. And with release date delays on big tentpoles like MulanA Quiet Place Part IIFast 9, and The New Mutants, Hollywood will have to brace for impact.

Production delays also amounted to staggering losses. THR estimates a delay on a project like Shang-Chi and the Legend of the Ten Rings would cost $300,000 to $350,000 a day. Depending on the length of a particular production delay, we could see even more release dates moved as a result, further sending increasing numbers.

So far, THR reports the global box office has already taken a $7 billion hit, yet these numbers could climb if these cuts, closures, and delays continue through May.

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