Marvel Studios stands to lose at least $300,000 a day while production on Shang-Chi and the Legend of the Ten Rings is suspended. The movie's director, Destin Daniel Cretton, has coronavirus symptoms and is awaiting his test results at the moment. Marvel Studios decided to put the whole project on hold for two weeks in order to get Cretton's results and as a general safety precaution. All in all, it's believed that Hollywood could lose up to $20 billion as a result of the coronavirus pandemic.
The Shang-Chi production suspension is reportedly costing Marvel Studios and Disney approximately $300,000 to $350,000 a day. That is not a small amount of money, especially when considering that it will be down for at least two weeks. It might be best to scrap everything and wait for a better time to return to the Australian set. The live-action remake of The Little Mermaid and the Home Alone reboot for Disney+, along with the Marvel shows, have also shut down production.
Even though Shang Chi just started shooting, star Simu Lui confirmed the coronavirus shut down on social media and remained positive about the delay. However, the dust is far from settling when it comes to the coronavirus. While China might be able to finally get a hold on everything, the rest of the world is just starting to figure out just how serious this all is. Medical professionals don't see this going away any time soon, so Hollywood productions might be down for a lot longer than initially expected. Or, everything could get better a lot sooner than thought. It's really unclear at the moment.
Universal Pictures was one of the first to take one of their projects and postpone the release date. No Time to Die was supposed to hit theaters in a few weeks, but now what be released until November. While Disney was originally uninterested with the thought of moving projects around, they have had to stop production on a everything and move the Mulan release date. At this time, many are under the impression that it's only a matter of time before they movie Black Widow's release date to the end of the year.
While many studios are stopping production due to the coronavirus, Warner Bros. seems to be going ahead. Maybe. The Matrix 4 is still in production and it is believed that Fantastic Beasts 3 will begin shooting early next week. But The Batman is taking a two-week break. Most studios are taking everything down a few notches, but Warner Bros. is still going strong, at least as of this writing. Things could easily change any day now since that's how everything else has been going. Sporting events went from no audiences to suspended seasons in a matter of hours, so this could all change really quickly. The Hollywood Reporter was the first to reveal that Shang-Chi delays stand to cost Marvel Studios a lot of money.