Warner Bros to release all 2021 films on HBO Max and in cinemas on same day

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In Hollywood Warner Media has announced that a basically their movie slate Is going to be on its streaming service, HBO Max the same day that it opens to the degree that any movie can open right now or in the next months ahead in theaters. This is shattering the window that had been a foundation of the movie business in which movies playing theaters and then they move on to another platform and the studio's milk of the movie all the way through, you know, with DVD sales and going to a cable channel or whatever, and make a lot of money. That's what it has been But now we're in the streaming world and Warner's. I will say absolutely stunned everybody, including the people who made the movies that are going to now be in this what they call day and date arrangement. They didn't even give them a heads up. They just announced it. I'm too heard about this the night before, and I was telling everybody I could reach this see what they'd heard and people didn't know. They had kept this idea completely under wraps and shocked the town and Maura importantly, perhaps Warner's did not tell the feet Your owners that they were doing this and this is it. This is basically the beginning of the end of the theater business as we know it because Warner's is the largest studio in terms of output. And now we've got 17 films, The entire 2021 slate going direct to HBO. Max the same day there in theaters. These are Sequels to the Matrix Sequels to the conjuring. This is all of the Warners movies Big small and in between. And you know there's really no going back from this. I don't think because even though the CEO of Warner Media Jason Kyle are is already saying this is just because of the pandemic in 2022, we could reevaluate. I just don't see how you do that. This is their policy. 18 T bought Warner media to explicitly to start a streaming service and take on Netflix. They don't care about the theatrical business. And now here, it shows and I think you're really going to see a catastrophic End of the movie business as we know it. Yeah, I mean, I was texting with one of their competitors the night before this announcement, the spin was the theater business will be reborn, and it will become this much better experience and I'm like rolling my eyes and yes, they didn't go to the theaters. They didn't go to anybody because they knew that with the blowback would be they just dropped it And I will note something like Godzilla versus Kong. Legendary paid 75% of the budget for that movie and basically can't control its destiny Got an offer from Netflix wanted to sell. The necklace was blocked by Warners because Warner's paid the other 25% and had the deal that give it the power to block that sale. And then they wake up in the morning saying, Guess what? We're putting it on our streaming service. There's no deal in place. This is not how we do business in Hollywood. You don't just say I'm totally twisting your arm, but I may have pulled it off. I think there was going to be incredible blowback from film makers, producers all of their partners, this kind of behavior. It's a digital thing bloodless. Move, But I think in Hollywood, you're gonna find a certain amount of blowback. Yeah, they're gonna have to pay out all the talent because there are expectations of box office bonuses and back in that are cooked into deals when you do this, and we saw this with Wonder Woman when it went to streaming. You got to pay out the filmmaker and you got to pay out Gal Gadot, the star and Maurin importantly, though, there is a feeling that the theatrical experience is being threatened here and you mentioned yes that the theaters could possibly reinvent himself. Cells. But let's say this impacts theaters 25 30%. That is a significant hit that the theaters will take on. A lot of them will go out of business. As we know the hits or what Dr the theater business, and even a 30% decrease would cause many theaters to go out of business. Perhaps the ones that remain would reinvent themselves Great. But talent here I mean, think of someone like John to the director of in the heights. He specifically took this movie Toe Warner Brothers when Netflix was offering a lot more money because of the experience he had with crazy Rich Asians, which also spurned Netflix for Warners and got a theatrical release and became a huge cultural phenomenon. Because of that theatrical release, he went Toe Warner's thinking he'd get that again. Now he's getting day and date. That's not what he signed up for. Yes, I mean, just let me be clear. I'm not the one who said the theater business will be reborn. That's the dream of executive in this business. And as I said, Yes, he is a perfect example. John Hsu of what does he think of this? And what will he think? Next time? He has a project that he wants to take somewhere. Thank you, man. Thank you. That's meant

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