on Christmas, the same time it debuts in theaters, many expected it to be an isolated case in response to an unprecedented pandemic.
In the short term, the move will inject some welcome buzz into HBO Max, a Netflix challenger that launched last spring without generating much sizzle. One of’s key rivals, the Walt Disney Company, has strengthened its share price because of its investment in streaming offerings such as Disney Plus even as its core theme parks and film businesses have cratered. WarnerMedia and its corporate parent AT&T are likely making the move with an eye towards pleasing Wall Street.
“We’re living in unprecedented times which call for creative solutions, including this new initiative for the Warner Bros. Pictures Group,” Sarnoff said in a statement. “No one wants films back on the big screen more than we do. We know new content is the lifeblood of theatrical exhibition, but we have to balance this with the reality that most theaters in the U.S. will likely operate at reduced capacity throughout 2021.
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