'Peter Rabbit' Sequel Release Postponed Over Coronavirus

LOS ANGELES (CBSLA) – The theatrical release of the sequel to "Peter Rabbit" has been delayed by five months due to the coronavirus outbreak.

"Peter Rabbit 2: The Runaway," was scheduled for release in the U.S. on April 3.

However, the release date has been pushed back to Aug. 7, Sony Pictures confirmed to The Hollywood Reporter Tuesday.

This marks the second major studio film to see its release date postponed due to COVID-19.

Last week, Metro-Goldwyn-Mayer announced that the release date for the 25th James Bond film "No Time To Die" was delayed from April to November.

The coronavirus outbreak has forced the closure of theaters around the world, most notably in China, which is the second largest movie market in the world behind the U.S.

The film industry could see billions of dollars in losses if the virus continues to spread and studios are forced to delay more film releases.

Disney's live-action remake of "Mulan," scheduled for release on March 27, is of particular note because its subject matter is of interest to Chinese moviegoers. According to CBS News, experts estimate that delaying the release of "Mulan" could cost Disney $85 million in international ticket sales.