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NEW YORK (AP) – In a Hollywood studio’s most seismic change to date during the pandemic, Warner Bros. Pictures announced Thursday that all of its 2021 films – including a new movie “The Matrix,” “Godzilla vs. Kong” and Lin-Manuel Miranda’s adaptation “In the Heights” – will air on HBO Max concurrently with they play in theaters.
Among the myriad changes to the release plan brought about by the pandemic, no studio has embraced streaming so fully as a lifeline. But after disappointing domestic ticket sales for “Tenet,” and with the majority of US theaters currently closed, Warner Bros. will turn to a hybrid distribution model. The films will debut simultaneously in theaters and on HBO Max in the United States. After one month, they will stop broadcasting and will continue to play only in theaters.
This move follows the decision of Warner Bros. to put “Wonder Woman 1984” on HBO Max next December, in addition to releasing them in theaters. If that pivot sent shockwaves through the industry, Thursday’s announcement risked shaking Hollywood to the core. It comes down to recognizing that any full rebound for theaters is still a year or more away.
“No one wants movies back on the big screen more than us,” Ann Sarnoff, chief executive officer of WarnerMedia Studios said in a statement. “We know new content is the cornerstone of theatrical exposure, but we have to balance that with the fact that most theaters in the US will likely be operating at reduced capacity throughout 2021.”
Warner Bros. called it a “one-year plan”. The studio has generally ranked in the top two studios in terms of market share over the past decade – the most recently eclipsed only by Walt Disney. Warner films typically account for $ 1.5 billion to $ 2 billion a year in North American ticket sales – a lot of money to be cleared among HBO Max subscribers. A spokesperson for Warner Bros. confirmed that the films would be available to subscribers at no additional cost.
Warner Bros. ′ 2021 features several of the best expected movies of the year including “Dune”, “The Suicide Squad”, “Tom & Jerry”, “The Conjuring: The Devil Make Me Do It”, “King Richard” and “Judas and the black Messiah ”.
HBO Max is only available in the United States. Internationally, the studio’s 17 films scheduled for 2021 will be released in theaters.
The move of Warner Bros. only makes the pain experienced by exhibitors all the more acute. After being closed for much of the year, theaters reopened across the country in late summer, except in some key locations, including Los Angeles and New York. But with most major releases postponed and cases of the virus soaring, around 60% of theaters have since closed again. Regal Cinemas, the second largest chain in the country, has closed all its doors. The National Association of Theater Owners did not immediately comment on Thursday.
Under Jason Kilar’s leadership, former Hulu chief AT&T-owned WarnerMedia recently reorganized to prioritize its streaming service. He has acted aggressively to boost HBO Max, even if it comes at the expense of the theater market.
“Our content is extremely valuable, unless it’s placed on a shelf and not seen by anyone,” Kilar said in a statement. “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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