![]() Many pieces have already been written about why Peele’s riveting, participatory horror-comedy is best experienced in a crowded movie theater, and he’s echoed the sentiment himself, explaining that it’s not available on any VOD services because “if you don't see it with the theater energy, you'll miss the full intended experience.” In the replies to that tweet, people are actually making plans to “get some friends together” to go see the film. But for Get Out, movie fans have apparently made time to visit actual theaters. Theaters have been engaging in predatory pricing for “the next big theater upgrade” no one is asking for. Most of the films in wide release these days are reboots, franchise films, and Disney’s mostly regrettable live-action remakes. There are obvious reasons for that besides the competition for time and eyeballs. ![]() In 2015, the box-office take reached its lowest point in nearly two decades. The movie-theater industry is bleeding, thanks to streaming services, rising ticket prices, and studios’ dwindling interest in original pitches. But the road to get there will be filled with contractual potholes, compensation disputes and distribution confusion before new industry-standard approaches are optimized and widely adopted.įorbes Business Council is the foremost growth and networking organization for business owners and leaders.Jordan Peele’s directorial debut Get Out passed the $150 million mark at the box office this weekend, making it the highest-grossing debut ever for a writer-director working from an original screenplay, breaking the 1999 record held by The Blair Witch Project. Bringing moviegoers back to the theater and continuing to develop unique release strategies involving a multitude of platforms, while negotiating fair compensation for everyone in the ecosystem, should be the way forward. Movie theaters have definitely taken a bath during the Covid-19 pandemic while the studios have found ways to adjust and release blockbuster films regardless. What do those revenue splits look like and how do we make it equitable for all the players as things evolve? Some of the streaming releases are part of a subscription service like HBO Max, Apple+, Paramount+, etc., and others are one-time prices for rent or purchase. This is where pricing models come into play. A big question is whether or not theaters will get a cut of the revenue in the event of a shorter window or a direct-to-streaming or VOD release. When it comes to the theaters, a more aggressive split could be in the offing during the exclusive window. Let's make sure everyone's covered regardless of the release strategy, while still allowing studios the freedom to choose the model that makes financial sense for that movie title. If there's no exclusivity period, then the compensation package looks like such. If there is a 90-day theatrical release window, here's the compensation if we do a 45-day theatrical release window, here's the compensation and so on. It makes sense for compensation to be tied to various distribution models. I believe a tiered system of compensation is where we should be headed - a version of which already exists. ![]() But with the rapid digitized disruption within the industry over the past 18 months, negotiations with studios on behalf of our clients will have to take into consideration even more that box office revenues aren’t going to be as high as they once were because of streaming, VOD and day-and-date releases, or in some cases, no theatrical release at all. When it comes to actors, directors and producers, oftentimes bonuses are tied to ticket sales. ![]() How can we create success for our clients? A Quiet Place Part 2 was the first title in that strategy and has done well so far. ViacomCBS CFO Bob Backish has been discussing the companies recent move to a model of "fast follow" in which a product is brought to Paramount+ after 45 days in the theater. For example, in April 2020, The Verge reported that Trolls World Tour made nearly $100 million via digital sales during a three-week period and far exceeded revenue from the theatrical release. In fact, these distribution “experiments” or pivots that were made possible by the pandemic may have shown that studios aren’t as reliant on theaters as they once were. Although studios are sitting on dozens of unreleased movies because of the pandemic, that doesn’t necessarily mean a bounce back is coming for movie theaters.
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