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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.

Go deeper: Movie industry braces for major hit due to coronavirus

Go deeper

Biden to stress U.S. does not seek new Cold War in UN speech

Photo: Al Drago/Getty Images

President Biden will use his first address before the UN General Assembly to lay out his vision for an era of "intensive diplomacy" with allies and "vigorous competition" with great powers — without a Cold War with China.

Why it matters: Biden will take the podium in New York on Tuesday with his own international credibility in question after the chaotic withdrawal from Afghanistan. His administration also is struggling to build international momentum to fight climate change, the pandemic and rising authoritarianism.

4 hours ago - Health

Biden administration to lift travel ban for fully vaccinated international travelers

Photo: Win McNamee/Getty Images

White House COVID-19 response coordinator Jeff Zients announced on Monday that the Biden administration will allow fully vaccinated travelers from around the world to enter the U.S. beginning in November.

Why it matters: The announcement comes as President Biden seeks commitments from countries to donate vaccines to the global COVAX initiative. He is expected to host a COVID summit on the sidelines of the UN General Assembly this week, and many of the countries attending have expressed frustration with the travel ban.

Dan Primack, author of Pro Rata
4 hours ago - Economy & Business

Gen Z breaks into VC

Illustration: Aïda Amer/Axios

When Meagan Loyst joined VC firm Lerer Hippeau, less than two years out of Boston College, she was still living with her parents. She had virtually no online brand presence, and the pandemic made it impossible to build a professional network via in-person meetings.

Why it matters: Loyst wasn't alone. Venture firms have accelerated hiring in line with record deal activity, often seeking younger investors who can spot trends that fly below the radar (or intrinsic understanding) of older partners.