News out of Hollywood this week is yet another delay. Again. This time around it’s Disney’s Black Widow and Soul turn to be delayed.
With the performance of Tenet in America taking around $30 million in two weeks it doesn’t bode well.
In the UK the film under distancing measures has taken $7 million alone, $29 million in China, with blockbusters usually taking 70-80% gross in America, it isn’t good news.
It isn’t good news for those who expect a return on a reported $200-250 million blockbuster.
We previously reported the delay to Wonder Woman 1984 till Christmas Day, this appears to have sent waves throughout Hollywood, as Disney now look to change Black Widow’s release date.
Variety is reporting that sources say it is likely to move from its current date of November 6th.
They also add that Disney is looking at possibly releasing Black Widow on their streaming service, Disney Plus.
To add further salt to the wounds of Cinemas everywhere, Soul also looks likely to go.
Disney Plus could also be its home, leaving the only major release between now and December to be No Time To Die.
Black Widow is going to be delayed… again…
Spectre took a massive $120 million at the UK Box office last time around, but can it do anywhere near the same, under the current conditions & lack of audiences?
If Black Widow delays till next Summer, if Soul goes straight to streaming, exhibitors not just in America, UK but worldwide will struggle to see out the year.
Some cinemas are losing £10k a month
With staffing costs, rental agreements, taxes, film fees, products & general upkeep, one independent cinema we spoke to recently was upbeat but feeling defeated.
They are losing currently around £10,000 a month just staying open having looked at their figures since re-opening in July.
This is just a dip in the ocean when we see so many chains, Odeon & Empire to name a few have sites they’ve not even re-opened yet.
Whilst companies such as VUE (Owned by fund managers), Cineworld (FTSE 100 Member) have the size to survive, it’s inevitable more redundancies & site closures could follow.
If the release schedule keeps going further back & back, these companies have even larger overheads, & with 100’s of sites, the cost will be astronomical.
Before the UK furlough scheme came to play and reversed course, could this come back if the box office outlook continues to be bleak?
This is a model that cannot continue be it an independent cinema, or an international chain.
Hercule Poirot To The Rescue?
Death On The Nile looks to anchor in the UK on the 16th of October, originally a 20th Century Fox release before the Disney sale will Disney continue?
Speaking to exhibitors this week, there’s been no rumblings on the Underground that this will move, but it’s certainly going to be a cagey month ahead for cinemas until these movies are released.
It could be that two of Britain’s most famous & iconic characters, Hercule Poirot & James Bond from Agatha Christie & Ian Fleming really will have a part to play in preventing the worst.
What do you make of this news?
Do you think Marvel Studios is going to end up delaying Black Widow?
Let us know your thoughts in the comments below.