AT&T and other analysts expected Wonder Woman 1984 to be one of the big box office hits for this past summer season.
In the short term, however, the film could become a crucial part of HBO Max’s growth as a valid rival to Netflix.
Since its birth, six months ago, the streaming platform (together with the Pay TV channel) has 57 million users around the world
During the pandemic, it has become quite evident that cinemas have been among the businesses that have suffered the most from financial problems. But now, because of the largest production companies in Hollywood, his problems could be even bigger. And, according to Bloomberg, studios like WarnerMedia are considering alternative premiere formats for their films. Some very similar by those who had previously demonized Netflix.
The outlet reports that executives within the company are still deciding what to do with the premiere of Wonder Woman 1984. The film is still scheduled for theatrical release this year, despite the fact that the COVID-19 pandemic began to emerge, again, in the United States (USA). Internally, WarnerMedia is planning to go ahead with the plan, but “premiere” it on its rival Netflix platform, HBO Max, a few weeks later.
The plans are not final yet nor have they been publicly revealed. However, it would allow Wonder Woman both to honor the commitment to movie theaters and to aim for a greater fraction of the profits that would be made without streaming. According to insiders, some movie complex owners agree to go the “Netflix route.” But options such as direct release DVD, Blu-Ray and the like are also being weighed.
A strategy for which Netflix had previously been demonized
It is curious that WarnerMedia is seriously considering this option. This, seeing how much hatred Netflix received for taking its premieres directly to digital format only a couple of years ago. True, no company has ever spoken openly about it, but there were comments from several relevant agents in the industry. The most talked about was, according to Business Insider, that of Steven Spielberg, which led to a response from the brand.
Don’t forget that this pressure actually impacted the way Netflix made some business decisions in the past. At the end of 2019, almost a year ago, he announced that he had rescued a movie theater. The objective was precisely to use this site to make physical premieres of some of his most prestigious films. And, in this way, both to silence the critics and to be able to comply with some rules of various competitions in the sector.
That’s why it’s so ironic that some Hollywood production companies are so close to making the decision to stream their movies just days after they hit theaters. It does not mean that it is an unexpected development for the industry. Quite the opposite. By May, according to Statista data, the global industry had already lost $ 10 billion from this health crisis. It’s just funny that his plans have lined up so quickly to Netflix now.
The other survival strategies
There are other much bigger “betrayals” of the values that film production companies had only a few months ago. For example, Disney decided to completely follow Netflix’s lead and released its live-action version of Mulan on its streaming site. The film appears to have been a resounding commercial failure for several factors, including its commercialization and a couple of cultural conflicts. However, the mouse house is expected to repeat the experiment.
As movie companies see increasing value in the Netflix route, theaters are still in their battle to bring consumers back. In Mexico, one of the most emblematic examples is that of Cinemex. The chain joined the Good End promotions on November 9. But instead of offering discounts and interest-free months on products and services, it gave the public the opportunity to buy tickets at discounted prices.