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AMC Theaters CEO Adam Aron believes Warner Bros. is sacrificing studio, production, and filmmaker profitability with its new HBO Max 2021 release plan. announced today that its slate of 17 movies coming out next year will arrive at HBO Max Day -and-date with theaters and stay on the streaming service for a month. After this month, the movie will be removed from HBO Max, but the theatrical release will continue to air in theaters, like those of AMC. The CEO of the company criticized the decision today in a statement to The Hollywood Reporter.“Obviously, Warner Media intends to sacrifice a considerable portion of the profitability of its movie studios division, and that of its production partners and filmmakers, to subsidize its startup HBO Max,” said Aron, also. president of AMC Theaters. “As far as AMC is concerned, we will do everything in our power to ensure that Warner does not do this at our expense. We will aggressively pursue economic conditions that preserve our business.” with Warner Bros. He also said the movie channel is confident that incoming COVID-19 vaccines will make it easier for moviegoers to return to the movies safely and with peace of mind.
Aron’s statement comes on the same day the theater chain announced it would sell 200 million shares to raise $ 844 million, resulting in a 17% drop in shares, as Variety reported. .