Hollywood's big hope to kick off an economic recovery is delayed
“Tenet,” starring John David Washington, is a $200 million action-adventure from a director with a strong box-office record — Nolan’s “Inception,” “Dunkirk” and the “Dark Knight” movies generated billions of dollars in receipts around the world. As theaters begin to reopen, they have placed their hopes on the filmmaker to rescue them from a disastrous 2020.Publicly, at least, the National Association of Theatre Owners that represents theaters endorsed the “Tenet” delay.
“Over these last months we have been keeping Warner Bros. closely informed of our work towards reopening our theaters in accordance with governmental health and safety requirements, and we are looking forward to audiences enjoying Tenet in our theaters all around the world on July 31st,” it said in a statement.But the move is likely to create a domino effect that goes well beyond Warner Bros..
on a conference call with analysts last month that he was grateful not to be going first, and many in the industry believe “Mulan” will now move as well and come out after “Tenet,” no earlier than Aug. 7.With that move, others parts of a carefully orchestrated sequence would also be upended. Paramount Pictures is scheduled to open “The SpongeBob Movie: Sponge on the Run,” on Aug. 7.
A canceled summer would have a broad financial impact on Hollywood. Theaters have lost billions since movie theaters closed on a wide scale in March with the outbreak of the pandemic, as studios pushed all major movies coming out before July 4. Last year, the April-June period brought in $3.4 billion in box-office receipts. This year, it’s generated just $2 million, largely from a smattering of reopened theaters showing classic films.
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