With WarnerMedia effectively blowing up the theatrical exclusivity window with its entire 2021 Warner Bros. film slate, many are wondering which studio will make a similar move. All signs point to Disney sticking with playing both sides of the fence, releasing some films directly to Disney+ and skipping theaters while also debuting some of the bigger blockbusters exclusively in cinemas. Well, that basically leaves NBCUniversal as the next logical studio to make a WarnerMedia-esque move. And if you listen to NBCUniversal’s CEO Jeff Shell, that doesn’t sound like it would be a bad thing.
Speaking at a UBS conference (via Deadline), Shell talked about the future of the film industry, as it relates to the theatrical experience versus streaming. And as the head of a company that makes huge films such as the ‘Fast & Furious’ and ‘Jurassic World’ franchises, as well as having a big entry in the Streaming Wars with Peacock, Shell understands why WarnerMedia made the move. In fact, it would appear that he thinks it is the best thing for the industry.
“I think theatrical is a critical part of the movie business,” said Shell. “They are events, and you can get in your car and go watch them on a big screen with great sound the way directors and filmmakers had meant. But there is also going to be a growing segment of the population that want to watch movies in a non-premium way which is at home. I think that theatrical will survive and the more windows collapse, the more money that will be made in the movie business.”
To his credit, Universal isn’t doing things exactly like WarnerMedia’s new HBO Max/theater hybrid scenario. Universal has been steadily releasing films in theaters with 17-day exclusivity before releasing films on Premium VOD for an elevated cost. The studio then shares those PVOD earnings with the studio chains. But with Peacock seemingly struggling to keep up with the streaming competition, how long until we see NBCUniversal take a drastic move and send some of those Universal films directly to Peacock? It seems a logical step. Especially if he does believe the theatrical exclusivity window needs to be gone.
“AT&T is taking a different strategy… but anything that collapses windows is good and theaters will be fine over the long term, he said.
READ MORE: AMC & Regal Cinemas Respond To WarnerMedia’s HBO Max Release Strategy
Well, I’m sure theaters would adamantly disagree with the assertion that they “will be fine” in this new world of no theatrical windows. With AMC, Regal, and Cinemark all trying to stay afloat until studios begin releasing films regularly in theaters and mom-and-pop independent cinemas shuttering left and right, the industry is falling apart. But sure, there are likely going to be some theaters around to reap the benefits of this new system. We’ll just have to wait and see who survives.