Over the past decade, streaming has changed how Americans consume television shows and movies. As movie theaters closed during the pandemic, streaming has gained even more momentum.
"How we consume that media because of COVID has clearly changed," says Spencer Levy, chairman of Americas Research for CBRE and senior economic advisor for CBRE on the company's Weekly Take podcast. "We've seen some of the very negative and unfortunate announcements from large movie theater chains recently that are struggling."
For instance, the parent company of Regal Cinemas, UK-based Cineworld, recently announced that it would "temporarily suspend operations" at Regal theaters.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
