As of right now, Tenet is scheduled to be released on July 17th as planned, despite the fact we're in the midst of a global pandemic. No one is even sure whether theaters will be open by then, or if it's going to be safe to return to them, but as Variety reports, many exhibitors are banking on the sci-fi movie being able to bring people back to them.
In recent weeks, Nolan has pledged to finish his latest blockbuster on time despite the crew having to work remotely due to social distancing. Despite that, with COVID-19 cases still on the rise in many places, the fear is that theaters will proved to be a breeding ground for the deadly virus.
Insiders tell the trade that a July release is still optimistic, and with a $200 million production budget, Tenet really can't afford a limited release. It's also a movie that's expected to perform well overseas, and unlike the United States, many countries are lifting restrictions much slower. Now, Warner Bros. is expected to make a decision within the week about what to do.
That means we'll soon find out whether it will arrive on July 17th as planned or be pushed further into 2020. They need to choose now as spending millions on a marketing campaign over the coming months only to have to push it back isn't going to be an option for the studio.
"A high-profile blockbuster will the biggest draw for movie theaters," explains Paul Dergarabedian, a senior analyst at Comscore. "People have been watching older movies at home and rewatching TV shows. To have something brand new like ‘Tenet’ or ‘Mulan’ is going to be hugely important to get people incredibly excited to go."
"I am concerned business is going to be sluggish whenever it re-starts," David A. Gross, who runs movie consultancy FranchiseRe counters. "Aside from the loud minority who are protesting the lockdowns, people and moviegoers are apprehensive, especially in large cities."
We'll now have to wait and see.