I am not sure that audience is going to be consistent enough to afford production and promotional budgets of $300+ million for some films. Drop $30 for something like this...? Or how about we just watch one of the billions of free things already available on the various streaming services and online generally?
That is not a competition that makes a producer of these would-be blockbusters feel very comfortable right now. Didn't work at all with Mulan. That was around $200 million for production (no idea how), and it is on its way to losing upwards of $100+ million for the House of Mouse by the end of the year.
$300 million / $30 = 10 million
There are roughly 130 million American households.
Are 7.5% of the households in this country really going to drop $30 to rent every big budget blockbuster spectacle? When there are so many other options at home and these films are no longer "events" that you must see in theaters? Even if you count foreign gross, are 5% going to do that transaction...?
This is uncomfortable math for the industry.
Maybe the issue was more with Mulan than the direct to streaming platform. Trolls did very well back in the Spring. The Invisible Man did well after having to go VoD when it was released right as theatres started closing.
And dropping $30 for a family is still cheaper than going to the theatre these days. But hopefully by next spring or summer theaters will start to reopen and we'll get full releases again. I just wouldn't be surprised if you only see a 30 day run or so before the studio releases movies via VOD as there aren't going to be as many theatres as there were before.