Disney delays 'Black Widow' debut, adds streaming option in summer movie shuffle
- S&P 500, Dow hit record highs as Wall St indexes eye weekly gains
- Bitcoin (BTC) Drops 3% as Turkey Bans Cryptocurrency Payments Citing Lack of Regulatory Supervision
- Morgan Stanley (MS) Archegos-Related Loss Appears to be $911M
- Dollar at 4-week low on retreating Treasury yields
- J&J (JNJ) Privately Asked Rival Covid-19 Vaccine Makers to Inspect Clotting Risks, AstraZeneca (AZN) Said Yes but Pfizer (PFE) and Moderna (MRNA) Declined - Report
FILE PHOTO: Cast member Scarlett Johansson signs autographs on the red carpet at the world premiere of the film "The Avengers: Endgame" in Los Angeles, California, April 22, 2019. REUTERS/Mario Anzuoni/File Photo
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
By Lisa Richwine
LOS ANGELES (Reuters) -Walt Disney Co on Tuesday delayed the worldwide release of Marvel Studios film "Black Widow" by two months until July and said it would offer the movie simultaneously in theaters and for a fee on the Disney+ streaming service.
Theater operators had been hoping that "Black Widow," starring Scarlett Johansson as the Russian-born spy-turned-superhero, would kick off a summer blockbuster season in early May and draw crowds back to theaters after extended closures due to the coronavirus pandemic.
Shares of AMC Entertainment, the world's largest cinema operator, slumped 16% after the announcement.
Disney also said it would offer live-action movie "Cruella" for a fee to Disney+ customers on the same day it hits cinemas, which is scheduled for May 28, and that Pixar animated movie "Luca" would skip most theaters and debut to all Disney+ subscribers on June 18.
The Pixar film will play in theaters only in international markets that do not yet have access to Disney+. The service is available in much of the world but has just begun rolling out in Asia.
"Cruella" and "Black Widow" will cost Disney+ customers an additional $30 each to stream at home.
"Today’s announcement reflects our focus on providing consumer choice and serving the evolving preferences of audiences," Kareem Daniel, chairman of Disney Media & Entertainment Distribution, said in a statement.
The company delayed a handful of other films, including Marvel film "Shang Chi and the Legend of the Ten Rings," which is now set to reach theaters on Sept. 3 instead of July 9.
Movie theater executives had been encouraged by recent cinema reopenings in Los Angeles and New York City, the two biggest moviegoing markets in the United States, and an increase in vaccinations across the country.
But Disney's changes are likely to dent box office sales during the summer as some moviegoers opt to watch "Black Widow" or "Cruella" at home, and in most cases will not have a chance to see the latest Pixar film in theaters.
The next big-budget action movie on theaters' summer schedule is "Fast & Furious" movie "F9," from Comcast Corp's Universal Pictures, on June 25.
The shifts are among several changes Hollywood studios have tested during the pandemic.
AT&T Inc's Warner Bros. is offering all of its 2021 theatrical films on the HBO Max streaming service on the same day.
On Tuesday, Cineworld Plc announced that Warner Bros. had agreed to a more traditional release pattern in 2022 of showing movies only in theaters for a time, though the exclusive window will be shortened to as little as 31 days in Britain and 45 days in the United States.
(Reporting by Lisa Richwine)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- J&J scientists refute 'class effect' to blame for clots in those who got its COVID-19 vaccine
- Moderna expects vaccine shipments to Britain, Canada to be delayed, EU, Swiss roll-out on track
- UK asks Hong Kong to stop prosecuting pro-democracy activists
Create E-mail Alert Related CategoriesGeneral News, Reuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!