Hollywood postpones its planned return. Again.
“Mulan”, a $ 200 million live-action Disney movie, and WarnerMediaThe $ 205 million “Tenet” was supposed to revive the cinema by rolling out at the end of next month – the first major Hollywood releases since the cinemas closed in March. But Thursday, Warner pushed “Tenet” to August 12 due to soaring coronavirus infections in most of the United States. Highlighting the speed with which market conditions are changing, “Tenet”, directed by Christopher Nolan, changed dates two weeks ago.
Disney is considering a new exit plan for “Mulan,” according to two people familiar with the matter, who spoke on condition of anonymity to discuss a private process. Disney declined to comment.
Theater chains like AMC, Royal and Cinemark have announced plans to reopen most of their sites by mid-July. But it’s increasingly unlikely that New York cinemas will be open by then; Governor Andrew M. Cuomo said Wednesday that he is slowing plans to reopen theaters, gymnasiums and shopping malls. Such frightening studios: China, the second largest cinema market after North America, recently canceled plans to reopen some cinemas.
The blockbuster summer season, which runs from the first weekend in May to Labor Day, generated $ 4.32 billion in ticket sales last year. So far this year, ticket sales since the beginning of May have amounted to around $ 2.4 million, mostly in cinemas with classic and independent films. Some theater companies go bankrupt if ticket sales and concessions don’t generate adequate Thanksgiving revenue, analysts said.