Streaming vs cinema release goes through the first big test

The last weekend provided the first real test for the performance of highly successful movies on streaming services when they are released in theaters at the same time.

AT&T’s WarnerMedia debuted “Wonder Woman 1984” on Christmas Day, the first film in its experience to release its films simultaneously in theaters and on HBO Max. The result? “Wonder Woman 1984” set a pandemic record for theatrical release, with $ 16.7 million at the box office in the United States and Canada.

The streaming numbers were a little confusing.

WarnerMedia did not provide precise figures, saying only that almost half of its HBO Max retail subscribers broadcast the film on Christmas Day. This makes it difficult to determine exactly how many people watched “Wonder Woman 1984” at home, since HBO Max retail subscribers represent only a small fraction of people who have signed up for the service directly, rather than through their cable provider. . (Many cable providers will give you access to HBO Max if you already have a “normal” HBO subscription.)

So, was the WarnerMedia experiment successful? It is difficult to say for sure. It is a sample of a film and we are forced to work with limited company data. But at least we have good evidence that there is a lot of pent-up demand for popcorn movies.

Let’s look at what it all means:

WarnerMedia was careful not to reveal much about “Wonder Woman 1984” ‘s streaming performance.

When the company made its bold announcement earlier this month, industry directors and producers responded immediately. Patty Jenkins, who directed the two “Wonder Woman” films, implied in an interview with The New York Times that she will not direct a third film without a guarantee that it will be released in theaters. (Jenkins apparently got what he wanted, and WarnerMedia announced on Sunday that it will write and direct the third film in the series.)

By keeping the streaming numbers fuzzy, WarnerMedia was able to simultaneously tout the power of HBO Max, while bragging that it had the most successful theatrical release in the pandemic. This should make filmmakers somewhat happy that the company is not completely giving up on post-pandemic theatrical releases.

Millions of people probably watched “Wonder Woman 1984” at home than in theaters.

The last count of “retail subscribers” we have for HBO Max is 3.6 million in October. In total, HBO Max had 12.6 million subscribers in early December. So, although WarnerMedia said that only half of the retail subscribers watched on Christmas Day, there are millions more families who have probably broadcast the film in addition.

Rich Greenfield, a media analyst at LightShed, said on Twitter that “Wonder Woman 1984” was probably seen by more people in the United States than the first movie, which was released in theaters in 2017. This assuming an average family had several people watching together.

There is a pent-up demand to go to the theater.

Even in the middle of the pandemic, the theatrical release of “Wonder Woman 1984” proved that there was still a hunger for people to return to the cinema to see a great superhero movie. This should delight theater chains like AMC as they prepare for a post-pandemic schedule in late 2021. The sales figures that WarnerMedia released over the weekend paled in comparison to what they would have been in normal times, but it still proved that people will show up when and where it is safe to do so.

We don’t know how another big Christmas day release, Disney and Pixar’s “Soul” played.

Don’t fall asleep at the launch of another major film over the Christmas weekend.

Disney also released its newest Pixar animated film “Soul” at Disney + on Christmas Day. The film was originally supposed to be released in theaters, but changed to Disney +. All of this is part of Disney’s hybrid launch strategy, as it balances its lucrative theatrical releases from franchises like Marvel and Star Wars with the pressure to keep growing its streaming business. (The growth of Disney + and its next level of content has excited investors more than anything else, taking stocks to historic levels).

Disney did not release any data on the performance of “Soul” over the weekend, and we will probably never know. The company tested a direct launch for streaming with “Mulan” earlier this year, which Disney + subscribers could watch for a one-time fee of $ 30. It never said how many people paid. So far, Disney has been able to appease filmmakers with its targeted launch strategy much better than WarnerMedia.