#RussiaUkraineCrisis: Disney, Warner Bros., Sony won't release films in Russia
What's the story
As things continue to remain heated between Russia and Ukraine, following the former's full-fledged invasion of the latter, global companies have come out to condemn the move. The latest bodies to take steps are major film production firms like Disney, Warner Bros., and Sony Pictures Entertainment. Notably, all of these banners have announced they would pause theatrical releases in Russia. Here's more on that.
Holding ground
Walt Disney Co. was first to announce its 'boycott'
On Monday, Walt Disney Co. was the first to declare that it will not be releasing its upcoming ventures in Russia, "given the unprovoked invasion of Ukraine and the tragic humanitarian crisis." This boycott of sorts will include the Pixar Animation Studios release, Turning Red. Moreover, the studio promised to help in providing "urgent aid and other humanitarian assistance to refugees."
Twitter Post
Read Disney's statement on the matter here
Statement from The Walt Disney Company in response to the crisis in Ukraine: pic.twitter.com/avf6HoECPt
— Walt Disney Company (@WaltDisneyCo) March 1, 2022
Big ventures
Warner Bros's 'The Batman' not releasing as well
Within a few hours, Warner Bros. announced it will be halting the premiere of its most-anticipated release The Batman in Russia as well. The Robert Pattinson-led superhero flick was set to open across regions, including Russia, this Friday. "We will continue to monitor the situation as it evolves. We hope for a swift and peaceful resolution to this tragedy," read a WarnerMedia statement.
Response
Sony-backed 'Morbius' was next in line
In Hollywood's attempt at responding to the invasion, Sony also rose to the occasion on Monday. It has the Spider-Man spin-off movie, Morbius coming up. "Our thoughts and prayers are with all those who have been impacted and hope this crisis will be resolved quickly," a statement from the banner read. Earlier, the American trade association, Motion Picture Association had also condemned the invasion.
Do you know?
Earlier, Ukrainian Film Academy called for boycott
Before this, the Ukrainian Film Academy had appealed online for the international boycott of Russian movies and its film industry because of the invasion. According to Comscore, Russia accounted for around 2.8% of worldwide ticket sales for Hollywood projects last year, which is quite significant.
Connection
How is Russia's removal from SWIFT related to all this?
Notably, the flurry of Hollywood studios halting releases in Russia come after the Vladimir Putin-led state was removed from SWIFT or the Society for Worldwide Interbank Financial Telecommunication. Reports suggest Russia's exit from the global banking network can make it harder for production houses to get money back from their Russian distribution partners. Russia is also facing other economic sanctions but shelling continues.