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For movie studios, its a stark moment of decision.

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IfMulanunderperforms, theaters will live to fight another day.

On paper,Mulanlooks like the stronger, and safer, bet.

But for how long?

Were already seeing signs of how readily studios are prepared to abandon theaters.

And it wont reverse the giant paradigm shift thats currently taking place.

Its a shrewd way to buy time though perhaps not enough time.

What may be most striking about this moment is the absence of a master (or any) plan.

Post-Tenet,hard decisions about October and November movies will need to be made fast.

That is starting to feel more urgent; companies cant just keep sitting on unseen movies forever.

Something has to be sacrificed: movies or moviegoing.

The paired fates ofMulanandTenetmay determine which one prevails.