Sony Delays Release of Movies, Including 'Morbius,' Until 2021

Sony also is pushing back the start date for 'Ghostbusters: Afterlife' and 'Peter Rabbit 2.'
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Sony Pictures, the movie division of Sony (SNE) - Get Report, announced it has pushed the release of almost all its movies due in 2020 to next year, thanks to the coronavirus pandemic.

Almost all movie theaters are closed now, shuttered by the raging virus. They will likely stay dark for at least another two months.

Among the most-anticipated movies affected are “Morbius,” “Ghostbusters: Afterlife,” and “Peter Rabbit 2.″ Morbius is a fantasy superhero movie.

It has been moved to next March from this July, 'Ghostbusters' to next March from this July as well, and 'Peter Rabbit' to next January from this August.

The only Sony movie to escape the delay is “Fatherhood,” starring Kevin Hart, which has actually been moved up to this October from next January.

Sony removed “Greyhound,” a World War II drama starring Tom Hanks from its June 2020 planned release date without listing a new date.

On one hand, the Sony moves indicate the company doesn’t see theaters opening anytime soon. But on the other hand they indicate it does see a future for theaters, and that it doesn’t see movies completely relegated to an at-home, on-demand format.

In 2019, North American movie theaters scored $15 billion in revenue, made up of $11 million in ticket sales and $4 million in concessions, Variety reported

At last check, Sony shares traded at $59.50, down 1.11%. The stock has outperformed the S&P 500 index over the last three months, dropping 12%, compared to a loss of 19% for the S&P 500.