Instead of a theatrical release, Pixar's Turning Red will "premiere exclusively in homes worldwide," at least in countries where Disney+ is available, on March 11. Disney recently announced the change. You won't need to get Premier Access to watch the film. All Disney+ subscribers can watch the new Pixar animation.
Spider-Man: No Way Home may have broken box office records less than a month ago. But, as The Verge pointed out, a spike in COVID-19 cases brought about by the omicron variant and the lacklustre performance of other films could see some moves like Turning Red making streaming premieres again.