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The 93rd annual Academy Awards are due February next year, however multiple reports suggest that the Academy of Motion Picture Arts and Sciences is considering postponing the prestigious event due to the impact of coronavirus on world cinema. However, no formal discussions have taken place yet.

The reason behind the possible postponement is the shutdown of film releases and productions that has shaken the Academy qualification schedule. With many films being released online, several changes have had to be made. Previously, the qualifying requirement for the Oscars was for films to have been screened for a week before 31 December.

Read: Oscars will allow streaming-only movies to compete next year

A postponement of the event might also mean that they will alter the eligibility criteria as well. “I think everyone is sympathetic to the filmmakers’ plight and we’re here to support our members and the film community,” said the Academy president, David Rubin.

“It’s impossible to know what the landscape will be. We know we want to celebrate films but we do not know exactly what form it will take,” he added. This is obviously a major decision to consider because the Oscars generate major revenue for the Academy.