Film operators reportedly consider retaliating after Warner Bros. announced that their 2021 Slate will debut on HBO Max and in theaters the same day.
The announcement came as a blow to theaters, which suffered a heavy blow over the year due to closures and limited capacity amid the ongoing coronavirus pandemic.
The list of 17 films that will be immediately streamed includes massive properties, including “The Matrix 4,” “Dune,” “In the Heights,” and “The Suicide Squad,” which theaters relied on to help them recover afterward. a difficult year.
Now, some theater chains are considering cutting ticket prices to see these films, according to The Hollywood Reporter.
WARNER BROS. WILL RELEASE ALL 2021 MOVIES ON THE HBO MAX STREAMING SERVICE AND IN THEATERS
Tickets could cost as little as $ 3 to $ 5, the report said, citing insiders.
Additionally, theaters would like to keep between 75% and 80% of ticket revenue, leaving just pennies for the studio per ticket.
AMC and Cinemark have issued statements explaining that they will be forced to consider porting the films title by title, while the former’s recent filing with the SEC indicates Warner Bros. ‘The decision is partly to blame for the possibility that the channel will run out of cash by the end of January 2021.
DIRECTORS GUILD OF AMERICA SAYS WARNER BROS. THE STREAMING PLAN WITH HBO MAX IS “UNACCEPTABLE”
AMC and Cinemark did not immediately respond to Fox Business’s request for comment. Warner Bros. declined to comment.
Warner Bros. could lose around $ 1.2 billion in box office revenue for 2021 thanks to the deal, according to the reporter citing a report by MoffettNathanson.
In addition to the studio’s 2021 slate, “Wonder Woman 1984” is set to debut on HBO Max on Christmas Day, when it also hits theaters.
The spread of the coronavirus and its subsequent shutdowns have had a big impact on the film industry, as many productions have been closed or even abandoned due to the outbreak.
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Theaters also face an uncertain future, as Regal has shut down many places around the world.