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But with films like “Matrix 4,” “In the
Heights” and “Dune” hitting TVs at the same time as theaters,
and Marvel series “The Falcon and the Winter Soldier” and “Loki”
streaming on Disney+, will they even want to?
The pandemic accelerated a push to subscription streaming video
services like Netflix and Disney+ that was already underway,
leading to a surplus of top-shelf content being available to
consumers in 2021. But behind the scenes of this new golden age
of television is a battle over the future of Hollywood.
2020 was the year major media companies placed their bets, with
AT&T Inc, Comcast Corp and Walt Disney Co announcing new
strategies around how and where they will distribute content.
While their approaches vary, they are united by a singular focus
on streaming video to appeal directly to viewers.
Less clear is who will emerge victorious once the pandemic is
over. Will the experience of watching a film in a theater - with
a community of fans, a giant screen and enveloping sound - trump
the convenience and lower cost of watching it at home?
The answer will help decide the future of Hollywood in 2022 and
beyond.
AT&T’s Warner Bros studio took the boldest step of its peers
when it announced plans to debut all of its 2021 films in
theaters and on the HBO Max streaming service on the same day,
including potential blockbusters like “Matrix 4,” “The Suicide
Squad,” “Dune” and “In the Heights.” It is releasing “Wonder
Woman 1984” in theaters and on HBO Max on Dec. 25.
Warner Bros said the strategy, which AT&T Chief Executive John
Stankey described as a "win-win-win" for consumers and partners,
would stay in effect for one year.
“I don't know why they had to decide about the whole year,” said
“Wonder Woman 1984” director Patty Jenkins in an interview with
Reuters. “I wish we could have waited and seen what was
happening with theaters."
Comcast’s Universal Pictures took a less drastic approach,
chipping away at the theatrical window through deals with three
major theater operators - AMC Entertainment Holdings and
Cinemark Holdings Inc, and Canada's Cineplex.
The parties agreed to shorten the window between a film’s
theatrical and at-home release. After as few as 17 days in
theaters owned by one of those operators, Universal could make
films such as “Sing 2” or "Minions: The Rise of Gru" available
on digital platforms for $19.99.
Rather than announce sweeping changes to its movie release
strategy, Disney opted to super-charge its streaming services.
The company plans to release 10 new TV series each in the Marvel
and Star Wars franchises, including two spinoffs of “The
Mandalorian,” on the Disney+ streaming service over the next few
years.
It will make another 15 live-action Disney Animation and Pixar
shows and 15 Disney Animation and Pixar feature films available
on the service.
Customers should expect about 100 or more titles on Disney+
every year, executives said on Dec. 10. To help fund the $16
billion Disney is planning to spend on new content in fiscal
year 2024, in March 2021 Disney will raise the price of Disney+
by $1 in the U.S. to $7.99 per month and by 2 euros in
continental Europe to 8.99 euros ($10.92).
In early 2021, ViacomCBS is rebranding its CBS All Access
streaming service as "Paramount+" - which will include episodes
and movies from ViacomCBS-owned brands such as Comedy Central
and Paramount Pictures, including series such as “The Twilight
Zone” and “The Good Fight.”
These changes may not have happened as quickly without the
pandemic, although some Hollywood insiders consider them
inevitable.
“Without a doubt, we are into the big curve of change that I
think has been due ever since people first had (premium video on
demand),” actor Tom Hanks said in December. “(Arguably) since
the VHS cassette tape was first introduced in a cheap way, this
has been just across the horizon."
(Reporting by Helen Coster in New York. Additional reporting by
Alicia Powell in New York and Jill Serjeant in Los Angeles;
Editing by Kenneth Li and Nick Zieminski)
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