The Long-term Impact of the Covid-19 Pandemic on China’s Movie Industry

After the Centers for Disease Control and Prevention identified the first coronavirus case in the United States on 21st January 2020, the epidemic has rapidly expanded to a global scale, and economic markets in the United States and even the world have been severely affected. The impact has been significant in many areas, including the movie industry. This paper selects the film industry index calculated by East Money Information Co, intercepts the stock data after the pandemic outbreak, and uses the ARMA-GARCH model to model and analyze the data to study how the Chinese movie industry has been affected by the wild spread of the pandemic. Then, it predicts the future development of the Chinese movie industry and makes suggestions for future development of the Chinese movie industry. It is found that the Chinese film industry profitability is affected by the epidemic domestically, and suggests that the Chinese government should actively respond to the increase of the domestic daily new confirmed coronavirus cases and be more proactive in improving the movie industry by opening more movie theaters and reducing policy restrictions on opening cinemas.