Studios' Turn to Streaming Gives Content Producers an Opportunity: Analyst
COVID-19’s closure of theaters in 2020 disrupted Hollywood’s movie release schedule, and with many theater release windows gone for now as a result of the pandemic, “content producers have the opportunity to go try things in a new way without…
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crashing the system,” said Interpret Vice President Brett Sappington on a Tuesday Brightcove webinar. With Universal, Warner and Disney capable of monetizing movies through company-owned streaming services, “what do theaters look like?” post-coronavirus, he asked. “Do they come back and at what scale?” He offered the possibility of a distributor buying a movie chain to control distribution. The market for theaters will “erode significantly, more than we want to talk about,” said Brightcove analyst Jim O’Neill. Studios have been trying to control theatrical outlets for some time, said Allan McLennan, CEO of Padem Media Group. “Now, being able to get in and actually have a little bit of leverage to keep themselves alive is very key.” AT&T is putting its completed 2021 film slate out through its HBO Max service in a one-month streaming exclusive that’s simultaneous with theater releases (see 2012080063). Brian Carroll, Ladies Professional Golf Association senior vice president-global media distribution, said streamers are “nibbling” into live sports content under different approaches including nonexclusive deals, documentaries, previews and highlights: The LPGA hopes to make more content available over streaming.