Hollywood studios have been irrevocably altered by the changes brought about by the global closure of cinemas in 2020. Online streaming has become arguably the most important entertainment format in the industry today, surpassing movie theaters. Keeping this massive change in view, while speaking at the Morgan Stanley Technology, Media and Telecommunications Conference on Monday, Walt Disney Company CEO Bob Chapek hinted that there will be no going back to the old theatrical distribution method.
“I think the consumer is probably more impatient than ever. Particularly since now they have had the luxury of a whole year of getting titles at home almost when they want them. So I’m not sure they are going back, but we certainly don’t want to do anything like cutting off the legs of a theatrical exhibition … I don’t think they have much tolerance for a title, say, being out of the room for months, yet it hasn’t had a chance to be dumped on another distribution channel, just sitting there, getting dusty. “
Last year, for the first time in their history, the largest traditional studios experimented with releasing movies online at the same time as in theaters, from WarnerMedia Wonder Woman 1984 to Disney’s own Mulan. What studios lose from the loss of box office revenue with this strategy is offset by a gain in subscribers. According to Chapek, this strategy of releasing movies online at the same time, or shortly after their theatrical release, offers an important option for audiences who may still hesitate to return to theaters.
“It certainly makes a lot of sense right now, in a COVID world, to have a choice. Obviously, movie theaters are not going to be 100% back. But it’s good to know that we have the capacity for people who want to enjoy it at home. Because they don’t feel very confident about going to the movies, they have that option. How will this look in the future? Well, we’re going to gain a lot of experience and a lot of data points. “
By the looks of it, Disney is getting closer than ever to making online streaming such an important distribution model for its movies as a theatrical presentation. This is particularly important to MCU fans, who have been deprived of any new movies in the franchise due to Disney’s insistence on releasing. Black widow Y Eternal On cinemas.
The truth is, any MCU movie is potentially a billion dollar gross prospect at the box office. It’s understandable that Mouse Empire wants to keep such a lucrative outlook tied to a theatrical distribution deal. On the other hand, the longer fans have to wait Black widow or Eternal, the less excitement will be for those particular movies. Hopefully, Disney will be able to sort out its priorities soon and finally establish a definitive distribution model for its upcoming movies list. This news was originally reported in Variety.
Topics: Cinemas, Box Office