IMAX CEO Rich Gelfond says he thinks the growing consensus over the shrinking of theatrical movie release windows (the time between theatrical and home video release) will boost the recovery of the movie exhibition sector.
Gelfond spoke during an online session at Morgan Stanley’s annual Technology, Media & Telecom conference about the topic of theatrical windows.
He says the shift of major studios to endorsing shorter windows such as 30 days for most releases up to 45 days for high-profile ones, as opposed to the pre-pandemic window of a mandatory 90 days for all titles, will likely be abided by the streamers as well in exchange for a theatrical engagement. Gelfond says:
“Before the pandemic, there were all kinds of swirling stories [that] ‘there are going to be no windows,’ or ‘short windows’ and I think that was an overhang on the industry. The clarity is good.
We’re going to see some of the pure streaming companies – the Apples, the Netflixes, the Amazons, they’re going to change their release patterns because the movies aren’t going to be 90 days like they used to be.
I think you’re going to start to see them put their movies on theatrical platforms, driven somewhat by talent, which wants to publicize it, and driven somewhat by economics… a movie gains much more stature. … Rhe streamers will find that they can get some of that benefit with a theatrical release.”
He admits theatrical windows have never been much of a sticking point for IMAX as it generally plays films only for runs of a week or two.
WarnerMedia CEO Jason Kilar seems to be on a similar page, acknowledging that the industry’s approach to windowing has likely permanently changed but expects there’ll be more experimentation in the short term:
“It sure feels like it’s not going to go back to 2015… I think we’re still in the experimentation mode. Is theatrical going to see a crazy resurgence? I could easily see that happening [and] we will be there to serve them. We absolutely are developing and producing movies for theatrical distribution.”
For now, Warners is continuing with its day-and-date on HBO Max strategy – an approach that appears to be working judging by the success of “Tom and Jerry” at the box-office last weekend.
Source: Deadline
