Sony Photos has no intention of releasing its motion pictures day and date in theaters and on house video/VOD platforms.
Based on Sony Photos chairman and CEO Tony Vinciquerra, the studio is seeing “a bit of boom” in curiosity from filmmakers who need to work with the corporate as a result of it prioritizes theatrical releases over streaming. Sony noticed a major improve in curiosity following Warner Bros.’ controversial resolution to maneuver its 2021 movie slate to a hybrid launch mannequin the place motion pictures open in theaters and stream on HBO Max for a 31-day interval beginning on the similar time. Warner Bros.’ HBO Max shift had precipitated business outrage, together with criticisms from Christopher Nolan and Denis Villeneuve.
“After the Warner Bros announcement, it’s been a bit of a boom for us because it’s made dating our movies next year somewhat easier,” Vinciquerra mentioned this week throughout an interview with CNBC (through The Verge). “But the real benefit has been the number of incoming calls from talent, creators, actors, and directors to us saying, ‘We want to be doing business with you because we know you’re a theatrical distributor and producer.’ That has worked very well for us.”
Vinciquerra’s declare that Sony is already seeing a rise in filmmaker curiosity following Warner Bros.’ HBO Max announcement helps a number of predictions “Wonder Woman 1984” director Patty Jenkins has been making to the press over the past a number of days. As Jenkins instructed The New York Occasions, the studio that commits to theatrical releases will see probably the most curiosity from high filmmmakers.
“I’ll tell you, some studio’s going to go back to the traditional model and cause tremendous upheaval in the industry, because every great filmmaker is going to go work there,” Jenkins mentioned. “And the studios that make this radical change [of moving their theatrical releases to a streaming service], particularly without consulting the artists, will end up with a very empty slate of quality filmmakers working there.”
Whereas Sony is open to promoting movies to streamers (see Tom Hanks’ “Greyhound” shifting from Sony to Apple earlier this yr in a deal price a reported $70 million), Vinciquerra mentioned the corporate has no plans to start releasing motion pictures day-and-date in theaters and on streaming platforms like Warner Bros.’ new technique. Sony is dedicated to theatrical launch and is now solely targeted on conversations concerning theatrical launch home windows.
“We’re not changing course to any big degree,” Vinciquerra mentioned. “We do think windows will become much more flexible and we’re thankful for that. We think that’s good for the industry and a good thing for our films. Some movies will do better with a short window and some movies will do better with a much longer window.”
Common Photos has been on the forefront of theatrical window adjustments this yr. Final month, the studio introduced it had signed an settlement with Cinemark and AMC Theaters to set theatrical home windows based mostly on opening weekend grosses. Common movies that earn over $50 million on their opening weekends can have a minimum of a 31-day theatrical window, whereas movies that earn lower than $50 million can have a 17-day theatrical window. This Common launch plan will maintain huge price range tentpoles in theaters for longer, which is one thing Sony desires to proceed.
“Big budget films require the windows that are in the flow now and we will continue with that,” Vinciquerra mentioned. “Every film released will have an individual negotiation with the exhibitors. We think 30 day windows are probably the best.”
It’s been a troublesome yr for motion pictures & theaters with @SonyPictures delaying almost all of its huge releases till 2021.
— Squawk Alley (@SquawkAlley) December 22, 2020