In this photo taken on Feb 28, 2020, a woman wearing a facemask amid fears of the spread of the COVID-19 novel coronavirus walks past a poster for the new James Bond movie "No Time to Die" in Bangkok. (MLADEN ANTONOV / AFP)

The next big Hollywood movie release, Metro-Goldwyn-Mayer’s James Bond flick No Time to Die, is being delayed until next year, a result of the woeful economics that studios are facing because of the pandemic.

READ MORE: James Bond movie release pushed back 7 months amid virus

No Time to Die, starring Daniel Craig, will now be released on April 2, the studio said, confirming an earlier report Friday by Bloomberg News. It had already been pushed back to Nov 20 from April of this year, after the pandemic forced movie theaters across the world to close.

The only major film that’s been released in the US since the pandemic started, Warner Bros’s Tenet, has attracted a small domestic audience

“We understand the delay will be disappointing to our fans but we now look forward to sharing No Time To Die next year,” MGM said in a statement.

Hollywood has a growing inventory of big movies sitting on the shelf because of COVID-19. The only major film that’s been released in the US since the pandemic started, Warner Bros’s Tenet, has attracted a small domestic audience -- partly because theaters in New York and Los Angeles are closed. Cinemas also have to cap ticket sales to adhere to social-distancing requirements.

The Bond film, which cost about US$250 million to make, will now compete with other big movies for audience attention in 2021. Universal’s F9, part of the Fast & the Furious franchise, was also moved to a new date on Friday. That film, which was scheduled to come out on the same day as No Time to Die, will now debut May 28. Universal is distributing both movies.

The change means theaters will have no major movies for adults until the end of the year, when Warner Bros is scheduled to release sci-fi thriller Dune and DC Comics installment Wonder Woman 1984.

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There are still several family-oriented films expected to come out in November and December, starting with Walt Disney Co.’s Soul on Nov 20. Universal Pictures also plans to release The Croods: A New Age, on Nov 25, though that film may move to on-demand platforms soon after its theatrical debut. Universal, a unit of Comcast Corp, signed an agreement with AMC Entertainment Holdings Inc shortening the exclusive runs movies get in theaters.

Additionally, analysts have warned that films could still be delayed or moved to streaming platforms, due to the uncertainty of the pandemic.