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When Warner Bros. announced that “Wonder Woman 1984” would land on the HBO Max streaming service over Christmas, at the same time it makes its theatrical debut, many expected to be an isolated case in response to a pandemic unprecedented.
Instead, the studio will roll out a similar release strategy for the next twelve months. In a surprising break from industry standards, Warner Bros. ‘All the Slate 2021 – a list of films that includes “The Matrix 4”, the remake of “Dune” by Denis Villeneuve, Lin-Manuel Miranda’s musical adaptation of “In the Heights”, the prequel to Sopranos ” The Many Saints of Newark ”and“ The Suicide Squad ”- will debut both on HBO Max and in theaters on their respective release dates. The shocking decision to simultaneously release movies every day underscores the crisis facing cinemas and the growing importance of streaming services in the wake of a global health crisis that has decimated the movie theater community.
Warner Bros. ‘ The 2021 release list also includes Denzel Washington’s thriller “The Little Things”, biographical drama “Judas and the Dark Messiah”, a “Tom and Jerry” remake, “Godzilla vs. Kong”, the video game adaptation. “Mortal Kombat”, “Those Who Wish Me Dead”, “The Conjuring: The Devil Made Me Do It”, “Space Jam: A New Legacy”, “Reminiscence”, “Malignant” and the sports drama “King Richard” by James Wan.
In the short term, the move will inject a welcome buzz into HBO Max, a Netflix challenger that launched last spring without generating much sizzle. One of WarnerMedia’s main rivals, the Walt Disney Company, has boosted its share price due to its investment in streaming offerings such as Disney Plus, even as its major theme parks and film business have shrunk. collapsed. WarnerMedia and its parent company AT&T are likely to take the plunge in an effort to please Wall Street.
Like “Wonder Woman 1984,” the movies that Warner Bros. plans to release in 2021 will be available to HBO Max subscribers for 31 days. After the one month deadline, these films will only be shown in theaters until they reach the traditional home entertainment framework. From there, people can rent through online platforms like Amazon, iTunes, or Fandango. It’s unclear when the titles will return to HBO Max.
WarnerMedia President and CEO Ann Sarnoff called the model a “one-year plan”. Company executives have stressed that the initiative is not expected to continue until 2022 or beyond – it is seen as a temporary solution in response to the current global health crisis.
“We live in unprecedented times that call for creative solutions, including this new initiative for the Warner Bros. Pictures Group, ”Sarnoff said in a statement. “Nobody wants movies to come back to the big screen more than us. We know new content is the lifeblood of theatrical exhibition, but we have to balance that with the fact that most theaters in the United States will likely be operating at reduced capacity throughout 2021. ”
“With this unique one-year plan, we can support our partners in the exhibition with a steady portfolio of world-class films, while also giving moviegoers who may not have theatrical access or who are not all totally ready to go back to the movies. chance to see our incredible 2021 films, ”she continued. “We see this as a win-win solution for moviegoers and exhibitors, and we are extremely grateful to our production partners for working with us on this innovative response to these circumstances.
Variety reported earlier this week as Warners. was planning to send multiple movies to HBO Max and to theaters day and day. But the studio has chosen to move forward with the rest of its next roster, as the cinematic landscape only becomes more volatile as the pandemic worsens and parts of the United States consider to implement new stay-at-home orders. The idea that people will be returning to the movies soon looks more and more like a distant dream as the pandemic nears the end of a year. It’s also unclear what kind of distribution footprint will await studios on the other end of the pandemic. More than 60% of US theaters have closed their doors again, and that number could continue to rise if cases continue to climb during the holidays. Those who remain open are teetering on the brink of bankruptcy. A sign of these problems, just hours before Warner Bros. Disclosing its plans, AMC announced it was selling up to 200 million shares in an attempt to raise up to $ 834 million and consolidate its cash flow.
To get theaters on board and allow Warners to break their theatrical contract for “Wonder Woman 1984,” the studio is offering theaters a more generous reduction in ticket sales. Theater chains receive up to 60% of the revenue. But sources say that won’t be the case for future releases.
Thursday’s announcement from Warner Bros. is another example of how the coronavirus crisis has radically changed the power dynamic between studios and theater operators. Even with promising vaccines having completed clinical trials, Warner Bros. suggests that the balance may never return in favor of the exhibitors.
Months ago, Universal Pictures took the ax in the theatrical showcase – industry jargon for the length of time a new version airs exclusively in theaters. But in comparison, the terms of Universal’s agreement with cinema chains AMC and Cinemark make them look like real martyrs. Under these pacts, the studio can put new films on premium video-on-demand platforms in as little as 17 days. Films that generate at least $ 50 million in ticket sales for the opening weekend, however, will have to play exclusively in theaters for 31 days, or five full weekends. Traditionally, newer versions stay on the big screen for 75-90 days before moving to digital platforms for a rental fee of $ 19.99. Universal has agreed to give both circuits a reduction in digital sales to get them to play ball. It’s not clear if theaters will reap the benefits of Warner Bros.
Warner Bros., perhaps more than any of its rivals, knows just how ruthless the theater market can be in the midst of a pandemic. When the studio released Christopher Nolan’s “Tenet” in September in an attempt to kickstart a national return to film broadcasting, the budgeted $ 200 million sci-fi epic fell virtually flat. “Tenet” generated substantial ticket sales overseas, but returns were poor in the United States. As a result, the film is expected to lose several million.
In an interview with Variety, studio head Toby Emmerich said the hybrid plan was born after exploring various options for “Wonder Woman 1984”. The international box office has rebounded considerably and even recorded massive successes in China and Japan. Moreover, the domestic market has not seen any films approach blockbuster levels in terms of ticket sales. HBO Max is only available in the US
“We thought it could be a win-win and give consumers the best choice,” he said. “Unfortunately, the United States has been one of the most constrained markets in terms of theater. Outside of the United States, in countries like China, South Korea, Japan, parts of Western Europe, our films will only be available in theaters. We believe these markets can perform better. “
“After considering all of the available options and the projected state of film release throughout 2021, we came to the conclusion that this is the best way for WarnerMedia’s film business to navigate through the 12 coming months, ”said Jason Kilar, CEO of WarnerMedia. “Most importantly, we plan to bring 17 remarkable films to consumers throughout the year, giving them the choice and the power to decide how they want to enjoy these films. Our content is extremely valuable, unless it’s on a shelf and no one sees it. We believe this approach serves our fans, supports exhibitors and filmmakers, and enhances the HBO Max experience, creating value for all.
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