'The stakes could not be higher' for the film industry this Labor Day weekend

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Analysts are eagerly awaiting 'Tenet' and 'Mulan,' as they will indicate if consumers have confidence in returning to movie theaters and if studios will have the confidence to continue to release films in theaters in 2020.

Last weekend, less than 50% of U.S.-based theaters were open and operational, according to data from Comscore. It's unclear how many theaters will be open this weekend, as that information does not become available until later in the week.

"Tenet's overseas performance has already exceeded expectations, providing encouragement that the film's stateside release will draw moviegoers who feel safe enough going back to cinemas," Shawn Robbins, chief analyst at Boxoffice.com, said. "...Studios and theater owners recognize that it makes absolutely no sense to view Tenet's opening under the same parameters we would during pre-pandemic times.

"If Tenet does do better than we expect, it would probably dissuade other distributors from pushing big budget films to streaming early, but even a more modest opening still leaves the question open as to what is the right model," Stone said.Disney's "Mulan" is an example of an alternative model. Instead of entering theaters, the film will be made available on the streaming platform Disney+ for an additional fee.Many theaters in the U.S.

Liu Yifei stars in Disney's "Mulan." Disney CEO Bob Chapek said that "Mulan's" streaming release is a "one-off" and not a signal that the company was swapping to a new business model, but the company will pay close attention to how many accounts opt to purchase the film on Disney+.The $30 price tag is Disney's way of recouping the film's $200 million production budget and its estimated $100 million marketing budget.

 

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