WarnerMedia, the parent company of Warner Bros., sent shockwaves through the film industry by announcing plans to release each of the studio's films on HBO Max in 2021.
The backlash has been significant, though that's primarily come from exhibitors and filmmakers like Tenet director Christopher Nolan. In the announcement, Warner Bros. Pictures Group Chief Operating Officer Carolyn Blackwood claimed that this is "a temporary 2021 plan," while others would later reiterate that it's a one-year-only deal.
However, The New York Times is reporting that "most people in Hollywood believe it will prove permanent." Variety adds to that, noting "few believe" this strategy will cease to exist at the end of 2021.
LightShed Partners media and entertainment analyst Rich Greenfield shares his take with the latter, stating: "It’s hard to imagine this doesn’t have permanent implications to consumer behavior. They can say things will go back in 2022, but people will have spent a whole year watching movies at home."
It's a compelling point; will people really be happy returning to theaters after being able to watch these blockbusters from the comfort of home? It can cost a lot of money for family to go watch a film on the big screen, so why would they fork out after paying for HBO Max instead? Interesting questions indeed.
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