Warner Bros. has decided to release all of its 2021 films simultaneously on HBO Max via streaming and in theatres, both. On Thursday, AT&T proposed that all movies, including the potential blockbusters, would be available on HBO Max to be viewed by the subscribers for a time frame of 31 days.
Taking into consideration the aspect of Covid-19 & cinemas to continue being dark throughout 2021, this step was adopted to bring some benefit to the stakeholders. As the studios rely totally upon theatre and generate their income through it, this is undoubtedly a tough time for them.
Not to keep the audience in any misconceptions about the future, Carolyn Blackwood – the Chief Executive Officer of Warner Bros. Pictures Group, in his latest interview, said, “It’s [streaming] a temporary solution to Covid-19,” seemingly for the year 2021 only.
Terming it as the Hybrid Distribution Model, Warner bro. has a scheduled list of 17 movies. These include, “The Little Things,” “The Conjuring: The Devil Made Me Do It,” “Dune,” “Cry Macho,” Matrix 4,” “Those Who Wish Me Dead,” “The Suicide Squad” and more for the next year in its theatrical slate.
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The newly proposed release method is a 180 degrees shift to Warner Bros. studio’s traditional film distribution method. From a 74 days wait – as per the longstanding model – before the studio could release the movie for home viewing, to now when even the potential blockbusters are being released simultaneously. The pandemic has given the film industry a chance to experiment at home streaming.
“The plan is a short-term fix to an extraordinary situation and does not represent the new business model for the studio,” the Executives at AT&T completed.
The studio has announced that they will release “Wonder Woman 1984” on Christmas Day simultaneously for streaming at the ease of your home & in the theatres, both. This “day and date” tactic by the Burbank Studio surged the subscription for HBO Max by households at a great level. Almost 8.6 million households have signed up at $15 per month till now.
Jason Killer, the chief executive of WarnerMedia in taking into respect this situation, said, “We see an opportunity to do something firmly focused on the fans, which is to provide choice.” WarnerMedia is the AT&T division that encompasses Warner Bros. and HBO Max. He further completed the statement, “Whether that choice is to enjoy a great new movie out at the cinema, to open up HBO Max, or to do both.”
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Understanding how the U.S. marketplace is the most challenged at the moment, the studio introduced this customer-oriented strategy to regain the much-needed boost for HBO Max. Launched back in May and owned by the parent company, Warner Bros. HBO Max streaming service hit the market with an aim to compete with Netflix and Disney+ in the digital world of movies.
Criticizing the decision, CEO of AMC, Adam Aron, says Warner Media wants to subsidize its HBO Max startup at AMC’s expense and that AMC “will aggressively pursue economic terms that preserve our business.” AMC Theatres shares decelerated by 16% upon this news.
