WarnerMedia CEO believes the HBO Max technique for cinemas is financially useful
Much has been written about WarnerMedia's decision to make HBO Max available to HBO Max for the first month of each of the movie's release along with a worldwide theatrical release, along with its entire cinema board for 2021. In an interview with Deadline, Jason Kilar, CEO of WarnerMedia, explained why this revolutionary distribution method is actually in the interests of the cinema halls.
"We believe, and others may disagree, this is the way to do what's most important for the theater exhibition community by providing them with a steady stream of new and fresh movies and films that consumers can count on It's something we rely on and will continue to do. "
Kilar makes a valid point. Right now, having to compete with home streaming of new movies while they are playing in theaters will certainly hurt cinemas' revenues, but it will hurt cinemas even more if all new movies have to be postponed for several months.
The fact is that theater chains are currently life sustaining and desperately in need of new content to be shown in cinemas. Unfortunately, most of the major studios have postponed their films by a few months to a year. At least with WarnerMedia's new model, movie theaters can generate some revenue in the coming months, starting with the 1984 release of Wonder Woman in theaters in late December. Ultimately, Kilar suggested that his company's drastically modified release strategy will be a necessary response for the foreseeable future.
"We are in the middle of a [global emergency], although we all want [it] to go away extremely quickly, like if a patch is torn off. Everyone we've spoken to in the medical community suggests that it does stays that way. " In terms of consumer behavior and the medical situation for a bit of 2021, if not all of 2021. That is the first and most important context. The reason for this is that this absolutely shaped this decision. And to get to your question on finance, we believe that in the current situation, which is highly unusual by using this release model – which is a hybrid model of Theater and HBO Max for the first month of the film's release – economically first and believe the most important thing is that it's right for fans, it's right for shows, and it's right for talent, given the circumstances. "
It will be interesting to see how Warner's new release strategy will affect the future of the film industry. The truth is that the box office for Warner's upcoming blockbuster movies will be cut sharply, while their new streaming service will see huge profits as fans flock to HBO Max to see the movies they've been waiting for almost a year . How much money the theaters will earn with the new distribution model remains to be seen. This was first reported on the reporting date.
Topics: cinemas, HBO Max, streaming
Writer with a keen interest in technology and pop culture.