Walt Disney Co. (NYSE:DIS) has delayed the release of several highly anticipated movies, including Marvel sequels featuring Doctor Strange and Thor, as part of a broad schedule shake-up.
The film "Doctor Strange in the Multiverse of Madness" has been moved to May 6, 2022 from March 25, while "Thor: Love and Thunder" will now be released on July 8 of next year from its original release date of May 6.
The box office has been recovering slowly from the pandemic, leading some studios to release new movies online and in theaters at the same time. However, Disney has committed to exclusive theatrical releases for its remaining 2021 films.
Among the other changes announced by Disney, "Black Panther: Wakanda Forever" is being moved to November 11, 2022 from July 8. And an untitled "Indiana Jones" picture will be released on June 30 2023, moving back from a scheduled release date of July 29, 2022.
Disney stock has been under pressure lately amid several analyst downgrades, citing concerns that subscriber growth on the Disney+ streaming service is slowing. DIS stock fell 3% in trading on the news of the film schedule shuffle to $171.14. The shares are down 4% year-to-date.
