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Disney Postpones Big Theatrical Movies, AMC Theaters Shifts U.S. Openings To Late August 07/27/2020

researchsnappy by researchsnappy
July 26, 2020
in Investment Research
0
Disney Postpones Big Theatrical Movies, AMC Theaters Shifts U.S. Openings To Late August 07/27/2020
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Piling on to an already disappointing summer movie season,
Walt Disney said it is postponing one big movie franchise “Mulan” to next year — as well as pushing two other longer-term movie franchises — “Star Wars” and
“Avatar” — to outer years.

“Mulan” had most recently been scheduled for August 21 — after a previous July 24 date.

Its original release
date was March.

Looking out for its other important movie franchises, Disney is also delaying releases of “Avatar” and “Star Wars”  —
“Avatar” (to December 2022 from December 2021), “Star Wars” (to December 2023 from December 2022).

“Over the last few months, it’s become clear that nothing
can be set in stone when it comes to how we release films during this global health crisis,” according to a Disney statement.

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Earlier this week, AT&T’s WarnerMedia
says its highly touted summer release “Tenet” will be postponed again. John Stankey, CEO of AT&T, said there was no alternate plan to stream the movie. A theatrical release was still
the primary distribution point.

Also on Thursday, the biggest U.S. theater chain, AMC Theaters, rescheduled openings for many of its U.S. theaters until mid-to-late August from a
July period.

AMC also announced one-third of its theaters in Europe and Middle East have been open. AMC has 1,000 theaters and 11,000 screens worldwide.

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