My money says that while theaters will still be a business model, it won't be a fraction the size of what it was. Between the insane prices for a first run movie, and now COVID-19, people won't be going back to see movies in a large auditorium with hundreds of other people.
Hasbro and their distribution partner for future movie releases will follow studios that are going direct to stream the way things are turning now. There's so much new first run content already available.
MLP The Movie II will go direct to stream. If nothing else, it will cut distribution and promotional costs by hundreds of millions world wide.