Mar 12, 2020 - Economy

More Hollywood films postponed due to coronavirus outbreak

Vicky Lee attends the European Premiere of Disney's "MULAN"

Vicky Lee attends the European Premiere of Disney's "MULAN" in London. Photo: Ian Gavan/Getty Images for Disney

Major Hollywood studios are yanking expected blockbusters off of their debut schedules in fear that they will miss the movie-going crowds due to the global coronavirus outbreak.

Why it matters: The film industry is on pace to lose billions of dollars from movie markets around the world, according to analysts.

Driving the news: Disney said Thursday it's pulling "Mulan" off of its film schedule. It's also postponing "The New Mutants," an X-Men thriller, and "Antlers," a horror film.

  • The news comes just hours after Universal Pictures said it would move its anticipated hit "F9," the latest in the Fast and Furious series, from May 22, 2020, to April 2, 2021.

Be smart: 'Mulan" was expected to be one of Disney's highest-grossing hits of the year, especially in China, where its opening has been postponed indefinitely. Universal's Fast and Furious franchise tends to make most of its money internationally.

  • Many theaters are closed around the world, especially in China, in an attempt to stop the spread of the virus. In other market like the U.S., movie-goers may opt to stay home instead of exposing themselves to anyone that could pass on the virus.

Between the lines: The cancellations come just days after Hollywood studio giants began pulling films.

  • The opening of the latest James Bond movie "No Time To Die" has been delayed. The original April release date was postponed until November due to coronavirus impact, according to a statement.
  • Other award-winning films like "1917," "Jojo Rabit" and "Little Women" have been removed from the Chinese release schedule.
  • Some studios have had to halt production of films in places that have been impacted by the virus. Paramount delayed production of "Mission: Impossible" in Italy.

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