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2011n, film Universal Pictures announced that it would test: it would release its new film, Tower Heist, on video request, released in theaters and less than three weeks away.
The move was doomed. The movies were angry. AMC, Regal and Cinemark he announced If Universal had gone ahead with the test, they wouldn’t have played the movie. Punished, Universal capitulated and the “test” never went ahead.
Things have changed. Over the past year, cinemas have not had any setbacks, and studios have been able to conduct streaming experiments that have been reflected over the past decade. But far from opening up a bold era of home entertainment, these experiments have shown Hollywood studios, yes, that they still need movie theaters if they want to make blockbusters around the world that attract at least big bucks.
Responses from pandemic studies have changed. Some, not having a well-known streaming platform, have done business with the companies that do it: Paramount sell 2 Coming to America Amazon $ 125 million; Sony sell Tom Hanks Greyhound Apple TV + for about $ 70 million.
Others have used the pandemic as an opportunity to release films on their platforms. Disney, for example, has released a number of Disney + movies, among others Mulan, Arima, and Raya and the last dragon. Warner Bros.-owned AT&T has released several films, for example Wonder Woman 1984 and Godzilla vs Kong—At the same time that HBO Max is streaming in cinemas, and it intends to continue to do so in 2021 Mortal Kombat, Dune, and Matrix 4.
Filmmakers have lined up to criticize this practice: director Denis Villeneuve Dune, published op-edition in Variety the proclamation of the movement shows “no love for cinema“, Again, Christopher Nolan he said “Some of the biggest filmmakers in our industry and some of the biggest movie stars went to bed at night thinking they were working at the biggest movie studio and woke up to find out they were working on the worst streaming service.”
It’s not hard to see why it would be appealing to studios: if you broadcast a film directly to people’s homes, you won’t have to share the profits with movie owners. “The studios have been trying to do this experiment for about 10 years, but they weren’t allowed to do it because the cinema boycotted the film if they did something like that,” says Omdia film analyst David Hancock. “They’ve been experimenting with what they couldn’t do for ten years.”
These experiments have yielded different results for different films—Greyhound he did well Raya and the last dragon floped– The takeaway has been clear. Hollywood still needs movie theaters and needs to come back with us as they reopen around the world. Omdia’s research has shown that according to the video, consumers will spend $ 1 billion worldwide in 2020, compared to the $ 30 billion that cinema lost at one time.
For big blockbusters, streaming can’t match theaters. The new James Bond movie, No Time To Die, is instructive here. The film, which MGM will distribute in America and Universal in the rest of the country, has been repeatedly delayed due to the pandemic. October 2020, rumors (Which was denied by MGM) began to spread as the studio bought the films for $ 600 million in streaming platforms; no one bought it, Hancock explained, because it was so expensive. It is doubtful whether streaming will ever bring in revenue from blockbusters like Bond to become viable proposals that could earn more than a billion dollars.
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