The film and entertainment industry is slowly trying to operate under the new normal brought about by the global coronavirus pandemic, but it looks like the economic impact on the industry is going to be severe no matter what happens after the pandemic.

According to Variety, the Wall Street analyst firm MoffettNathanson has predicted that the 2020 North American box office revenue will be around $5.5 billion, a 52 percent drop from the 2019 total of $11.4 billion. Even more worrisome for the industry, that prediction could drop even further if cinemas do not open by July or if expected blockbusters like Tenet and Mulan are pushed back even further down the calendar.

CBS Los Angeles also reports that this total can be driven down even further if major markets like Los Angeles, San Francisco, and New York. As noted by the channel, there are still no concrete dates for when cinemas will open in these markets, although city leaders from Los Angeles have indicated that movie theaters will reopen, but likely in the third phase of the California governor’s reopening plan.

The dismal numbers reflect the earlier economic impact brought about by global coronavirus pandemic on the entertainment industry. Last March, the North American box office suffered a $600 million deficit because coronavirus-induced lockdowns lead to closed movie theaters around the country. AMC theaters in Texas have also refused to reopen even with the government giving them permission to do so, stating that only new movies would push them to do so.

Globally, the World Economic Forum expects the global film industry will experience a $5 billion loss because of movie theater closures in huge markets like South Korea and Japan. South Korea, which recently reopened movie theaters as the coronavirus pandemic has eased in the country, saw tepid box office returns because of the lack of new movies and hesitation from moviegoers to head out.

With coronavirus infections around the world continuing to rise, it looks like the film industry will have to fight an uphill battle. According to the Jun. 1 situation report from the World Health Organization, there are now 6,057,853 confirmed COVID-19 cases worldwide. People that have died from COVID-19 are now at 371,166.

In the United States of America, the Centers for Disease Control and Prevention pegs the number of confirmed COVID-19 cases at 1,787,680 people, with 26,177 of those being new cases. Fatalities caused by COVID-19 is now at 104,396 people. New deaths make up 696 of that total.