Many things happened in 2021 that revolutionized the film industry. The continuing pandemic of COVID-19 forced film studios and cinemas to finally accept the fact that they needed to talk about the streaming issue. They were terribly unprepared for this, which is why it took so long for someone to find a solution. Some studios, like Universal and Sony, decided to simply delay everything by one year and hope that 2021 was better. Like Disney and Warner Bros., others turned to streaming and their own streaming services to try to make a difference. Warner Bros. decided to launch Wonder Woman 1984 on HBO Max and in theaters at the same time and move your entire 2021 list to hybrid releases. To say that it caused an uproar would be a gross understatement. Warner Bros. has spent the past few weeks trying to appease the talents irritated by this change and even possibly taking legal action against them for Legendary.
One of the reasons this is so important is the way that films pay people. There is the initial payment the talent receives and the waste that comes from the box office. There is no denying that the launch of HBO Max will have an impact at the box office, thus reducing human waste. They dealt with Wonder Woman 1984 giving talent $ 10 million upfront, but that kind of deal hasn’t been made with the other 2021 films. It looks like that upfront fee may be part of the norm in the future. According to Bloomberg, the new Warner Bros. plan and HBO Max is to give all talents whose films are premiering on HBO Max and in theaters an upfront fee.
This is how it works, according to people familiar with the situation: when the films are released this year, anyone entitled to a bonus will receive one for half of the box office revenue that would normally be required to trigger a payment. And if more cinemas close, the limit will drop further – a stipulation called “Covid-19 multiplier”. Those who would normally participate in box office profits will continue to do so, as well as benefit from on-demand and on-demand sales.
HBO Max will pay Warner Bros. a 31-day window fee, and the money for that will be shared not only with the profit participants, but also with the cast and crew. Both deals are part of WarnerMedia of AT&T Inc., run by streaming veteran Jason Kilar.
Thus, Warner Bros. he will spend a month giving talents essentially bonuses for his films being on HBO Max, with the thought that the box office will increase when the 31-day window ends. However, there is a good chance that this will not happen. People who are loyal to cinemas will see films like Dune or The Suicide Squad in theaters, but it is the repetition of the screenings that will hurt the most. Some people will want to see the movie a second time in theaters, but many people have had their theatrical experience and now want to watch their new favorite movie again without having to worry about combing their hair or wearing pants. Will anyone return to theaters after 31 days? Sure, but the market is so saturated and it will be even more saturated in 2021 that you might wonder if anyone is going to watch movies again.
The first hybrid release from Warner Bros. and 2021 HBO Max is The little things, and will be released later this month. We will have to see how things evolve throughout the year. The report seems to say that Warner Bros. is still saying that this will be a one-year thing that they are doing just because of COVID-19, but who knows. If they can find a way to get their money back and appease talent, this could be the new normal, no matter what. Christopher Nolan have to say.