EXHIBITORS & STUDIOS FACE 'CATASTROPHE' AMID FURTHER TENTPOLE DELAYS

Global exhibitors and studios are facing financial disaster as movie theaters remained shuttered, and blockbusters face continued delays amid the ongoing COVID-19 pandemic.

In mid-June, Europe’s theaters began reopening, and Hollywood hoped that big U.S. movies would be able to prop up flagging sales. But several delays have sunk those plans, and U.S. cinemas, which hoped to reopen this month, are shuttered in California and New York, the nation’s largest markets.

“It will be a catastrophe if Mulan and Tenet are further delayed. We’ve been sticking to it against all odds because we don’t want people to forget about us, but we don’t know how long we can hold up like this,” Jocelyn Bouyssy, managing director of CGR Cinemas, France’s second biggest multiplex chain, told Variety.

Christopher Nolan‘s $200 million Tenet was delayed again on Monday due to the pandemic. First, the release was set for July 17th, then July 31st, then August 12th. Now? TBD.

“Our goals throughout this process have been to ensure the highest odds of success for our films while also being ready to support our theater partners with new content as soon as they could safely reopen,” Warner Bros. Chairman Toby Emmerich said in a statement. “We're grateful for the support we've received from exhibitors and remain steadfast in our commitment to the theatrical experience around the world.” Tenet stars John David Washington, Robert Pattinson and Elizabeth Debicki.

“We will share a new 2020 release date imminently for Tenet, Christopher Nolan’s wholly original and mind-blowing feature. We are not treating Tenet like a traditional global day-and-date release, and our upcoming marketing and distribution plans will reflect that,” Emmerich continued.

He added that The Conjuring 3, set for September 11th, is being pushed to June 4th, 2021. Wonder Woman 1984remains scheduled for Oct. 2, and Dune appears set for Dec. 18.

Disney‘s Mulan is currently set for August 21. According to The Hollywood Reporter, the industry is facing a $20B+ hit from COVID.


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