Warner Bros.' and Legendary's 'Dune' will now go to HBO Max the same time it hits theaters on Oct. 1, 2021.
Instead, the reaction from the exhibition community — ravaged by the coronavirus pandemic and in desperate need of content for likely months to come — was relatively subdued, save for AMC’sCEO Adam Aron. So far, the National Association of Theatre Owners hasn’t weighed in. But the battle is far from over, and more could sound their own rallying cry once the COVID-19 crisis ends and moviegoing resumes in earnest.
"Clearly, Warner Media intends to sacrifice a considerable portion of the profitability of its movie studio division, and that of its production partners and filmmakers, to subsidize its HBO Max startup. As for AMC, we will do all in our power to ensure that Warner does not do so at our expense," said Aron."We will aggressively pursue economic terms that preserve our business."leadership of Warner on this subject.”U.S. ticket sales.
The exhibition sector took a further beating on Wall Street Thursday. AMC, which disclosed it would be selling 200 million shares in the hope of improving its liquidity, saw its stock fall some 16 percent by the close of the market. Cinemark, the third-largest theater chain in the U.S., finished the day down 21 percent, while Imax slid 8 percent.
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I love how the media is putting Dune at the forefront of this news... It's obvious everyone else wants this movie ASAP too!
It’s a dumb move by wbpictures to commit full slate before they know anything. At best they should have done this till end June and then look at the situation. They are sacrificing huge franchises for nothing. How they will judge the success of a tent pole is insane.
Perhaps the big studios should put together a package to cover the big theaters costs for the next year or two. Costs, mind you, nothing else. If leases and electricity etc are covered it could blunt the effect of things.
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Disney will do this also on Dec 10
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