(CNBC) -- Flix Brewhouse CEO Allan Reagan told CNBC on Wednesday he anticipates the coronavirus pandemic will lead to a sustained reduction in movie theater attendance.
In an interview on “Squawk on the Street,” Reagan said the Texas-based company, which operates 10 dine-in cinemas and brews its own craft beer, is projecting 2022 to be a “more normal year” for its business, after Covid-19 vaccinations become broadly available.
“The total attendance, based on the traditional curve, might be down 15% to 25% on a permanent basis. That’s the way we’re gaming this out permanently,” Reagan said.
Advertisement - story continues below