Walt Disney Co. has announced a delay to its film release schedule, which has left fans disappointed. The company has delayed some of its major films by up to three years, leaving theater chains without new movies to draw in audiences.
The third installment of the hugely popular Avatar franchise has been delayed from December 2024 to December 2025. Additionally, the two sequels to Avatar have been pushed back to 2029 and 2031 respectively. Two of Marvel's highly anticipated Avengers films have also been postponed by a year, with their release dates now set for May 2026 and May 2027. To compound things, the next Star Wars film has also been delayed by a year to May 2026, meaning it will have been seven years since the release of a Star Wars film.
The reasons for these delays are yet to be explained by Disney, but it is speculated that the ongoing COVID-19 pandemic has played a significant role in the decision-making process. Theater chains around the world have been hit hard by the pandemic and have been desperate for new content to draw audiences back to their screens. The success of Avatar: The Way of Water, which was released in December, proved that moviegoers are still willing to attend screenings, with the movie grossing $2.3 billion in ticket sales.
Disney CEO Bob Iger has been working hard to increase profits from the company by cutting back on content spending. While the reasons for these delays are unknown, the ongoing writers' strike in the US since May 2 has also put production on pause, putting films in danger of delays, and in some cases, cancellation.
Disney shares rose by only 1% to $93.72 after the announcement of the film delays. Movie fans and theater chains remain disappointed by the lack of new movies from the media giant. It remains to be seen if the delays will have any further impact on the movie industry or the theater chains whose very existence relies on new content.