Warner Bros.’ action spy thriller “Tenet” has surpassed $300 million at the global box office.
The slow ticket sales of "Tenet" haven't convinced other major studios to release their big-budget films such as MGM's new James Bond installment “No Time to Die."
The 007 story has been pushed back to 2021.
"MGM, Universal and Bond producers, Michael G. Wilson and Barbara Broccoli, today announced the release of NO TIME TO DIE, the 25th film in the James Bond series, will be delayed until 2 April 2021 in order to be seen by a worldwide theatrical audience," the franchise’s Twitter account announced on Friday.
"We understand the delay will be disappointing to our fans but we now look forward to sharing NO TIME TO DIE next year," the statement concluded.
In other film news, Cineworld Group Plc said Monday that 536 Regal cinemas in the U.S. and 127 Cineworld and Picturehouse venues in the U.K. would close on Thursday. Some 45,000 employees are affected.
The company has high debts and is, like the wider industry, struggling with the effects of the pandemic. It said that with major markets such as New York closed and no guidance on when they will reopen, “studios have been reluctant to release their pipeline of new films.”
Without these releases, the company can’t give customers “the breadth of strong commercial films necessary for them to consider coming back to theaters against the backdrop of COVID-19.’’
“This is not a decision we made lightly, and we did everything in our power to support safe and sustainable reopenings in all of our markets – including meeting, and often exceeding, local health and safety guidelines in our theaters and working constructively with regulators and industry bodies to restore public confidence in our industry,″ said Mooky Greidinger, CEO of Cineworld.
The Associated Press contributed to this report.