Film Industry vs COVID-19
Big films due to be released in 2020?
- Black Widow;
- The Kings Man;
- A Quiet Place Part II;
- Ghostbusters Afterlife;
- 007-No time to die;
- WW84;
- Eternal;
The big studios had to reschedule over 120 films- doesn't take into account films releaser by smaller studios.
The film industry were forced to change and adapt due to cinemas closing. Pushing films back until later caused massive blockbusters competing over the same months- this led to the industry having to make a plan.
Universal Pictures first released the second Trolls movie, "Trolls World Tour", days before the American movie theatre closed down.
A huge marketing campaign was created for informing the April 10th film release- did not postpone the opening and made the movie available a digital rental on platforms. This gained 100 million dollar in rentals.
Gained five million rental in the US and Canada- the digital release generated more revenue than the first movie "Trolls" did during five-month domestic theatrical run. Film industry learned digital releases is a successful strategy that can diminish the role of theatre.
Backlash from cinemas
AMC Theatres announced they will not play anymore of the studio's films.
The debut upended the exhibition industry- shrinks Universal and AMC Theatres deal enabling the studio releasing new movies.
Universal and AMC's deal- movies had to wait 75 to 90 days before releasing on home entertainment platforms. Now Universal has the option of putting its movies on digital rental services after played in theatres for 17 days.
WB first trial a cinema release after lockdown
E.g. Tenet costes over 200 million dollars (most expensive original film. The film made 55 million dollars domestically and 350 million dollars worldwide- seen as a flop.
Disney's Disney Plus
Disney launched Mulan in the UK on March 24, 2020. They took advantage of the lockdown to release their film the same Universal did.
Backlash
The live action film was meant to air in March- due to the pandemic it delayed. The movie was released on Disney + and cinemas. However fans weren't happy with the film's rental costing 30 euros to watch + cost of Disney + subscription.
Next six months Disney Plus became a key distribution method for the company while theatres remain closed. Soul is Disney's latest film which won their fans, current subscribers and fixed their image.
Black Widow has also been confirmed to be released on the 7th of May.
Warner Bros. decided to use HBO Max streaming service as a way to release their films.
WW84 was released on HBO Max and the cinemas in the US on Christmas Day. Released for 18.00 pounds for 24 hour rental in different countries. It also had a cinema release in the US and Canada. They also gained online sales (however film expected to earn a lot more).
The film sped up the distribution process available to buy at the start of March and available on Blu-ray and DVD.
AMC Theatres article by CEO Adam Aron- Summary
Warner Media sacrificed a portion of profitability to subsidize its HBO Max.
Studios now having a wider range of exhibition options and launching their own streaming services. Now control end to end, production-distribution and exhibition.
This temporary measure to generate enough profit to continue making films.
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