Extraordinary times require extraordinary measures. Breaking with long-standing Hollywood convention, Warner Bros. Pictures on Thursday that all of its 2021 releases will be available for streaming on HBO Max simultaneously to the respective film鈥檚 theatrical release. Each of the 17 movies Warner Bros. currently has slated for 2021 release will be available on HBO Max for one month and follow traditional distribution windows after that period.
The bold move is a response to the COVID-19 pandemic鈥檚 devastating and possibly lasting impact on movie theaters. 鈥淣o one wants films back on the big screen more than we do,鈥 Ann Sarnoff, Chair and CEO of WarnerMedia Studios and Networks Group, said in a statement. 鈥淲e know new content is the lifeblood of theatrical exhibition, but we have to balance this with the reality that most theaters in the U.S. will likely operate at reduced capacity throughout 2021.鈥
Jason Kilar, CEO of WarnerMedia, pointed out that this 鈥渉ybrid exhibition model鈥 was found to be the best in balancing the interests of film makers, exhibitors and movie lovers, pointing out that 鈥渙ur content is extremely valuable, unless it鈥檚 sitting on a shelf not being seen by anyone.鈥
As the following chart shows, 2020 has been a disastrous year for the entire movie industry, with theaters shuttered or largely empty since the pandemic hit the United States in March. In the eleven weeks ended March 19, North American box office earnings amounted to $1.7 billion. In the 36 weeks since, theaters generated little more than $200 million in ticket sales.
