‘Tenet,’ Expected to Signal Hollywood’s Return, Is Pushed Back

After being closed for months by the pandemic, movie theaters around the world are starting to reopen, albeit with limited attendance and heightened safety requirements. But theaters in important markets like New York and Los Angeles may not be open by July 17. Further complicating matters, no one knows how skittish audiences will be about returning to theaters, making big-budget releases all the more important.

The big studios are eager to begin releasing movies again, but none are particularly thrilled by the idea of going first. In recent weeks, Warner, concerned about its “Tenet” investment, was leaning in favor of postponement, while Mr. Nolan, a fervent advocate for preserving the moviegoing experience, was more eager to press ahead. The discussions amounted to a fraught moment for Warner: Mr. Nolan is a proven moneymaker, and the studio wants to keep him happy.

Mr. Nolan’s films for Warner include the “Dark Knight” trilogy and most recently “Dunkirk,” which collected $527 million worldwide in 2017. In March, he wrote in The Washington Post that movie theaters were “the most affordable and democratic of our community gathering places” and urged Congress to include them in the federal bailout. “When this crisis passes, the need for collective human engagement, the need to live and love and laugh and cry together, will be more powerful than ever,” Mr. Nolan wrote.

The plot for “Tenet” has been kept secret, in accordance with Mr. Nolan’s wishes. The film stars John David Washington (“BlacKkKlansman,” HBO’s “Ballers”) and Robert Pattinson, best known for the “Twilight” saga.

When the pandemic spread to the United States in March, studios pushed back all of their major releases. “Black Widow” from Disney-Marvel, for instance, moved to Nov. 6 from May 1. Some studios — notably Universal — have started to make some of their stockpile available on premium video-on-demand services. Universal declared that P.V.O.D. results for “Trolls World Tour” were strong enough to prove a new business model, increasing the pressure on theaters.

Article source: https://www.nytimes.com/2020/06/12/business/media/tenet-release-delayed.html