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Issue link: https://digital.macdirectory.com/i/1359241
Of course, like any good movie, the three made up and are typical Hollywood BFFs. You see, AMC and NATO looked around and saw Covid-19 sorta’ took away all of their bargaining chips. Hey, we were only kidding… John Stankey, head of AT&T and WarnerMedia, and Warner’s CEO Jason Kilar didn’t want that kind drama so they held their tentpole, Tenet, for theaters. They said they respected the importance of seeing a film the way it’s supposed to be seen and were committed to honoring yesteryear’s status quo 90-day window. Tenet scraped in an estimated $10M in ticket sales during its debut (which had to be split with theaters). Not a lot of seats in the seats for a film they dropped $200M on! It probably didn’t help AT&T reduce the $108B plus debt it took on when Randall Stephenson (then CEO) decided he wanted to be in the movie business … too. Deciding that they wanted to control it all (from creation to delivery) couldn’t have come at a worse time. Ever since the studio system was broken up by a 1948 Supreme Court ruling, there has been a lot of tension between theatrical exhibition and studio distribution. But nothing much changed. Even though they produced content for them, Hollywood viewed Netflix as coopetition (competitive competition) when it started streaming back in 2007. Amazon Prime became an added pain a year later when they began offering SVOD service. In addition, Amazon’s Bezos leveraged his 1998 purchase