Few movies in recent memory have had such a difficult time releasing as The New Mutants. Part of Fox's defunct X-Men film franchise, The New Mutants was originally scheduled to release in 2018. It was then delayed, and then delayed again after Disney purchased Fox. It seemed as though Disney was finally going to release The New Mutants this past April, but the coronavirus pandemic forced the company to change course, delaying the movie for yet another time.
Disney has announced a new New Mutants release date for August 28, though it's unclear if that will actually be feasible or not. In any case, many are wondering why Disney doesn't just release The New Mutants on streaming services first instead of premiering it in theaters. After all, Disney has a vested interest in Hulu, and it also has its own Disney+ streaming service that could always use more content. Plus, The New Mutants has no known connection to the MCU, and is unlikely to generate nearly as much interest as Disney's other superhero movies. However, there is now some insight into why The New Mutants can't skip theaters.
According to Den of Geek, the reasoning boils down to 20th Century Fox's cable rights deals, which means all 20th Century Fox movies for the next two years have to debut on HBO. Furthermore, there are contracts in place that stipulate a theatrical release for The New Mutants, and renegotiating those contracts wouldn't be worth the effort.
Whether or not The New Mutants actually premieres on August 28 is anyone's guess. Disney thinks it will show Mulan in theaters at the end of July, but it's possible that the coronavirus pandemic could cause the movies to be delayed again.
The New Mutants is scheduled for an August 28 theatrical premiere.
Source: Den of Geek