Christopher Nolan’s highly-anticipated new movie Tenet has already been delayed multiple times due to the ongoing coronavirus pandemic. According to Variety, analysts predict the blockbuster film is likely to get pushed back yet again due to a resurgence in new virus cases.
Eric Handler is a leading industry analyst and feels that there is a “low likelihood” of Tenet opening in theaters on August 12, the latest release date assigned to the film.
The primary reason for Handler’s prediction is due to the slow reopening of cinemas in some of the biggest markets, such as New York, Florida and California.
“Movie theaters in the Big Apple remain closed and there’s been no clear indication of when they might be allowed to welcome audiences again,” clarified the outlet.
Handler’s prediction is that the film — which stars Robert Pattinson and John David Washington — will not debut until September, “at the earliest.”
One of the main reasons Tenet‘s release date is so vital to theater chains worldwide is because of the industry’s plummeting revenue.
As Variety indicated, many cinemas were counting on the film to “ride to their rescue,” since Nolan films are known for raking in a substantial amount at the box office.
“Many of these chains are burdened with heavy debt loads, something that Handler alludes to in his note. AMC recently renegotiated its debt in an effort to improve its balance sheet.”
“Focus should return to liquidity until there is a broad re-opening,” Handler posited. “The near-term outlook for exhibition related stocks remains extremely clouded given the uncertainty about when theatres will be able to re-open with new Hollywood content.”
Earlier predictions on box-office revenues for 2020 were more positive, but Handler added that by the final third and fourth quarters of the year, revenue could decrease to “90 percent and 50 percent, respectively.”
Tenet was originally slated for release on July 17 before being pushed back to July 31. It was then delayed yet again to its current date of August 12.
While Tenet is one of the biggest films waiting to be released, it is hardly the first movie to be delayed more than once.
Disney recently pushed its live-action adaptation of Mulan back into late August. Mulan‘s premiere was rumored to be impacted because of Tenet‘s new date, as Disney did not want to compete with the Nolan movie. If Tenet is on the move again in the future, Mulan could be, too.
Also on the move is Halloween Kills, John Carpenter recently announced the horror sequel would migrate to 2021 — an entire year after its original opening date.