COVID-19, aka the Coronavirus, has been the craze lately as people fear for their safety (and ridiculously stockpile on toilet paper as they are self-quarantined for a couple of weeks).
At the time of this post, the virus that has infected more than 160,000 people worldwide and killed 6,068 has affected the lives of pretty much everybody in one way or another. (Almost 76,000 have recovered, so there is hope by the way.)
While the demographic largely at risk are the elderly, and those with major lung conditions, countries and companies across the globe are taking major precautions to prevent a larger outbreak.
The effects of these precautions and fears can already be seen throughout the stock market as prices have dropped tremendously since the outbreak began. However, investments aren’t the only thing that have been affected as the film industry is already beginning to take a hit from all of this hubbub.
From delays to cancellations, here’s a list of everything affected by the outbreak thus far, and what it means for them (and we’re all holding a good thought for Tom Hanks and Rita Wilson).
Mission Impossible 7
Mission Impossible 7 is probably the least affected on this list.
Due to a recent outbreak in Italy, the film has delayed their three-week filming schedule in the country with no word as to when they’ll resume production.
Given there’s also been no word of delays and considering its rather distant release date, right now it’s safe to assume that it’ll still hit its July 23, 2021 release date.
For the first time in 34 years, the famous Austin film festival South by Southwest has been cancelled due to growing concerns over the virus.
While the festival may be rescheduled later this year to take place in some other city, this will come as a major blow to the city of Austin which benefits greatly by hosting.
The city raked in $355.9 million dollars from SXSW last year from all of the tourism, and ticket sales that comes with it. This will hit the local economy hard.
No Time to Die
At the height of its promotional campaign, the latest James Bond film, No Time to Die, has been delayed seven months to its new release date of November 25, 2020.
This news came as a shock to everyone as it is the first film to officially delay its release due to the virus. The studio is projected to lose over $30-$50 million due to this delay.
It’s all for the best, though, as the health and well-being of the public is more important than a movie.
Sonic, Mulan, and Bloodshot
Sonic the Hedgehog and Bloodshot have both cancelled their releases in China, while Disney’s latest live-action remake, Mulan, has only been delayed there.
Sonic won’t be affected as badly as the other two films since it has become a surprise box office hit even before a Chinese release.
Bloodshot, on the other hand, could be looking at a big loss. Vin Diesel is a superstar in China and his films there usually do very well there. For example, XXX: The Return of Xander Cage made around $160 million in China, while only making a quarter of that in the United States.
Mulan might take the biggest hit on this list. Considering its heavy cultural ties to the region, and just how well Disney movies do over there, the film was projected to make a lot of its money in China. While the film is still going to be released there, the delay will no doubt hurt its box office numbers.
This is Just the Beginning…
This could just be the beginning of a wave of blockbusters and events that are delayed and cancelled due to the spreading of the virus. The biggest impact will be to the studios and investors who are on the front end of this situation.
But money isn’t what matters; it’s your health.
While younger, healthy people will most likely be just fine if infected with the virus, it’s when it spreads to the vulnerable population that this becomes deadly. So given that, please be cautious and take all health precautions necessary to stay healthy and protect others.
Stay home if you’re sick (don’t go to the movies), refrain from touching your face, and, I can’t stress this one enough, please wash your hands!
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