Recently, Sony explained how the movie studio is going to stay independent and doesn’t want to be sold to a bigger studio and/or a streaming service. And in staying an independent studio without the backing of a major streaming platform like Disney+, Amazon Prime Video, Apple TV+, HBO MAX, and Netflix, means Sony is definitely hoping to keep the theatrical business alive and well for its film releases.
Speaking at this year’s CinemaCon (via THR), Sony’s co-president of the Motion Picture Group, Josh Greenstein, doubled down on the studio’s commitment to the preservation of the theatrical experience and rebuked any idea that day-and-date releases on streaming and in cinemas is a good thing.
“Debuting movies simultaneously in theaters and at home is devastating to our collective businesses,” said Greenstein.
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Obviously, when speaking at CinemaCon, which is the gathering of theater owners and distributors from all over, you’re going to talk about how important it is to give cinemas an exclusive theatrical window. And as THR reported, the comments by the Sony executive drew huge applause.
As mentioned, Sony is in a very different position than studios such as Warner Bros. and Disney, who both have the power of streaming platforms to help release feature films if the cinemas can’t support them. We’ve seen both of those studios do day-and-date releases for massive blockbusters this year, leaving Sony as one of the other majors out there sticking to exclusive theatrical releases.
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Sony really is hoping that theaters do everything to support some of its films over the next year. The next several months alone, the studio has three massive superhero films that need to perform well, including “Venom: Let There Be Carnage,” “Morbius,” and “Spider-Man: No Way Home.” And while ‘No Way Home’ seems guaranteed to do good business (though the pandemic might stop it from beating $1 billion worldwide), ‘Venom 2’ and “Morbius” are less of a sure thing.
