Warner Bros strikes huge blow to movie theaters, will send all its 2021 movies simultaneously to HBO

[Demovictory9]

Warner Bros strikes huge blow to movie theaters, will send all its 2021 movies simultaneously to HBO Max

https://finance.yahoo.com/news/warner-bros-strikes-huge-blow-to-movie-theaters-will-send-all-its-2021-movies-simultaneously-to-hbo-max-192753161.html


AT&T-owned WarnerMedia shook up Hollywood when it announced on Thursday that it will release all of its 2021 Warner Bros. films to its HBO Max streaming platform at the same time the movies hit theaters.

The news sent shares of AMC (AMC) down 14%, Cinemark (CNK) down 17%, and IMAX (IMAX) down 7%.

After one month of streaming on HBO Max, the films will leave the platform and continue to play in theaters, the company said, calling the plan a “unique, consumer-focused distribution model” and a “strategic response to the impact of the ongoing global pandemic.”

Yahoo Finance industry sources say the move was driven by Jason Kilar, the founder and former CEO of Hulu, who became CEO of WarnerMedia in May and quickly initiated an executive shakeup.

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A survey last month by Yahoo Finance and Harris Poll found that 81% of Americans have not gone to a movie theater since before March, even if theaters have reopened in their area. 56% of respondents said they are concerned about getting COVID-19, while 20% said they fear theaters are not being cleaned well enough, and 12% said they don’t want to wear a mask while watching the movie. But another 22% said there was no movie they wanted to go see, and 19% said they’d rather stream movies at home.

[TDale313]

1. Mixed feelings.

This is clearly the direction things are going, and particularly now the studios need to get their products out there, and it’s smart to give people the option to watch safely at home without the extra cost or a three month delay...

But I love and miss the theater experience, and I feel sad for what this means for theaters. Also, if this becomes standard, it will likely mean a huge change in what types of movies get greenlit, and what budgets we see. That may be good or bad, but long term, I’m guessing studios aren’t going to continue producing as many high-budget movies if they’re going to streaming services primarily.

[USALiberal]

5. Some movies just need to be seen in a theater IMO! Nt

[TDale313]

6. Agreed.

I kinda suspect there will still be some theaters, but it will be more like going to see a play or a sporting event. pricier tickets, more of a special event.

[JI7]

2. It's the virus that did it

[Johnny2X2X]

3. Modern TVs and home sound systems are too good

Miss the theaters too. But with the technology that’s available for your hone now, it was already heading this way.

Home theaters have also hurt sporting events. You can just see so much better from home now.

[Baclava]

4. Only one way to save the industry, announce nipple will be shown in new R movies ONLY in theaters

[BGBD]

7. Sorry

but theaters suck.

Pricey snacks and drinks, dirty floors, pain in the ass people.

It shouldn't cost $100 to take a family of four to the movies.

[vercetti2021]

11. It shouldn't you're right

Like 20 for two people is pretty ridiculous. But as for snacks. We snuck em in lol stick a 20 oz pepsi and snicker bar in your purse and you're golden

[Cha]

8. This makes Total Sense.. in the Age of

the trump VIRUS

[no_hypocrisy]

9. I understand from a business standpoint, but

I spent $50+ for a series of retrospectives last year in a large movie palace and it was well worth it. The screen was big and wide. Great audio.

Gone With The Wind
Young Frankenstein
Breakfast at Tiffanys
et al

[vercetti2021]

10. Honesty theaters will return

But for now this is the only safe way to watch new releases. Movie theaters will never completely die as the experience is too great to just stop for good. There are movies I would love to see in theaters once a vaccine is available.

So while theaters might be on a downward path. It'll revive.

[Volaris]

12. I moonlight at one of the few open theaters outside st louis. Creativity is key; some examples:

Lots of retro shows
Discounted theater rentals for private events

The advent of digital means projectors are multi-use; we had a dad rent out a screen for his kids birthday party (maybe 5 or 6 kids that were in their 'pod'), and they plugged in the nintendo and played Mario Cart for 3 hours and ate popcorn.

We are looking forward to our release of Wonder Woman 84, despite its concurrent streaming release.

Croods 2 was the best weekend we have had in 6 months, we mandate masks in the building and everyone that comes in, doesnt complain about it.