We estimate a demand model using data of the first run theoretical movies in China from 2012 to 2018. Using the COVID-19 epidemic as a quasi-natural experiment, we quantify the impact of public emergencies on the movie industry. The results show:First, the release time of movies is critical to the performance of movies. After the resumption of business, if all movies that have not been released due to the epidemic choose to postpone the release, it can effectively avoid the situation of excessive competition. Second, controlling the release rhythm of unfixed movies and maintaining appropriate competition can promote the improvement of economic benefits. Our results show that the rhythm of two movies per week after November 2020 maximizes the economic returns. Third, an alternative for the movie producers in response to the shutdown of theater is to use online platforms. The results provide a basis for the movie industry to formulate strategies for resuming production and work, and provide a reference for future response to public health emergencies.