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Issue link: https://digital.macdirectory.com/i/1436922
Disney, which had a significant line up of modest and tentpole projects to release, took a more tempered approach evaluating each film, its potential and optimum positioning or, as Chapek said, “Be flexible to read all the clues.” They weighed what was the best opportunity for each film and the market/viewer potential, moving some direct to their streaming service, adjusting the theatrical schedule or providing an abbreviated theatrical/streaming plan. As Allan McLennan, CEP/Media, Head of M&E North America, Atos, observed, “Disney does a great job of maximizing revenue throughout all the windows.” The once sacred 90-day theatrical window is gone but we are still a long way from blanket day/date releases because studios still need to maximize their revenues for each film before transitioning to other home entertainment options. Industry analysts like Stephen Follows have done a great job of spelling out the cost and income sources for tentpoles and it is obvious that seats in seats are a primary source of income while other viewing options cover overhead and profits. According to Bruce Nash, of The Numbers, even though most films make 80 percent of their box office earnings in the first three weeks, there is room for negotiation ranging from day/date, 17 days, even 45 days--but 90 days is a dead issue. That doesn’t mean you can expect to see films like No Time to Die, MI:7/8, Maverick, Avatar 2 (when it’s finally completed), Matrix and a few others to appear on your friendly streaming service shortly after they’re released in theaters. McLennan said studios will squeeze these films for every cent possible including DVD releases, airline, PVOD, “exclusive” viewing parties and other marketing/sales opportunities. People may think of a night at the movies, slouching in front of their big screen or staring at the small screen in their hand as entertainment but it’s still a business, and that business supports hundreds of thousand of creatives around the globe. And, as Dylan Rhodes said in Now You See Me, “By taking advantage of their weaknesses. Their need to believe in something that's unexplainable in order to make their lives more bearable.” McLennan noted that moving forward, everything now has to be on the table (and discussable/negotiable) for the industry because the industry can’t invent tomorrow if it is clinging to the past or focusing solely on one party’s self-interest, including producers, directors, talent.