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Cinemark is wary of the decision by Warner Bros. to release all of its 2021 films simultaneously in cinemas and on its streaming service, HBO Max. The monumental decision is much more decisive than any plans previously set by a major studio. Most of the industry has been holding its breath, as it were, waiting for the pandemic to pass and for cinematic distribution to become viable once again. Every major studio has been forced to delay its schedule of upcoming films, but few have been willing to make as final a call as this one. Since first announcing the decision, WB has confirmed that this decision is only for 2021 and only coordinated with US theaters—for now.
Warner Bros. made the bold decision to release Tenet exclusively in theaters earlier this year and the result was not thrilling. The film failed to bring home the desired returns, even accounting for the pandemic. Since then, Warner Bros. has shifted to a different approach, choosing to release Wonder Woman: 1984 on December 25th both in theaters and on HBO Max. AMC, the largest theater chain in the US and the world, was entirely supportive of that plan, but the decision to do the same for all 17 films on the Warner Bros. slate for 2021 was not as well received.
Deadline reports that Cinemark, the number three theater chain in the US, is keeping its cards close to its chest regarding the decision. Though AMC was quick to agree to the Wonder Woman 1984 decision, Cinemark has yet to make a call on that front. Those in the know say Cinemark's hands are likely tied and that the exhibitor will play the film. But regarding the 2021 plan, a representative said the chain would be negotiating "on a film-by-film basis" as it has been. Warner Bros. has not yet provided Cinemark with a detailed plan to sign off on. Check out the full quote from Cinemark below:
“In light of the current operating environment, we are making near-term booking decisions on a film-by-film basis. At this time, Warner Bros. has not provided any details for the hybrid distribution model of their 2021 films.”
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With the rise of streamers such as Netflix and Hulu in recent years, cinemas had been struggling for quite a while preceding the pandemic. The question now appears to be whether or not the pandemic is a knockout blow. Prior to COVID-19 running amok, the cinema ecosystem was disrupted by MoviePass, a bizarre theater subscription service that failed to gauge the opportunism of young film buffs. MoviePass lost millions of dollars, accidentally exposed many of its users in an embarrassing data leak, and officially filed for bankruptcy two months before the pandemic hit the United States. All that is to say that cinema exhibition was not the healthiest industry prior to 2020, and groundbreaking moves such as this one may be detrimental.
In the case of Warner Bros., a yet more troubling implication rears its ugly head. Prior to the release of Wonder Woman: 1984, HBO Max will be offering a 22 percent discount on six-month subscriptions, hoping to rope in a healthy crop of subscribers around the holidays. As major studios such as Disney gobble up more and more competitors and recognizable brands, the bold move by Warner to funnel moviegoers to its own streaming service during the pandemic should not be taken lightly. Major exhibitors such as Cinemark are in a weakened state and liable to agree to deals that will accommodate any traffic to their venues at all. But Warner Bros. moving, however subtly, toward controlling both the production and exhibition of its films looks to be a plan precariously placed atop a slippery slope with a monopoly at the bottom.
Source: Deadline
