Sony (NYSE:SNE) and Disney-owned Marvel have decided to postpone the cinema release of their next potential blockbuster Morbius, in the wake of Spiderman’s continued box-office success and the spread of the Omicron variant of Covid-19.
Morbius – a movie based on Marvel’s Doctor Morbius whose experiments with bat DNA goes wrong, turning him into a vampire - is now slated for release in April instead of January 28.
It comes as Spiderman: No Way Home has grossed over US$1.37bn and continues to be screened in cinemas worldwide under varying levels of restrictions which include, depending on territory, reduced capacity viewings and curtailed opening hours.
Hollywood release slate has very much been a moving target since the onset of the pandemic with delays triggered initially by disrupted and/or suspended filming and production through more latterly to more audience-related factors as lockdowns and restrictions on the use of public spaces have left executives waiting for the ‘best time’ to release their big-budget movies.
James Bond: Time to Die for example was finally released in September 2021 nearly two years after its originally planned November 2019 (prior to Covid, a director change was also a factor).
Other 2020/21 movies skipped the cinema altogether with Disney and Warner sending a number of major IP releases straight to online streaming.
Recently, in October, Disney shifted most of its release schedule with the next Marvel movies such as Doctor Strange, Thor and Black Panther all given later release dates, whereas a new Indiana Jones movie was knocked into 2022 and several live-action Disney movies were scrubbed from the schedule.
Investors in London-listed Cineworld Group PLC (LSE:CINE) will keenly eye the major movie studios in the coming days and weeks to see whether any of 2022’s other blockbusters will see further delay, whilst Reddit/WallStreetbets retail investor favourite AMC Entertainment will also be under the spotlight.