LOS ANGELES: AT&T's Warner Bros studio on Thursday announced that it will make all of its 2021 films available in theatres and on the HBO Max streaming service starting on the same day, an unprecedented shift in response to the coronavirus pandemic that sank shares of movie theatre operators.
Studios have been pushing to make their movies available in living rooms sooner than the typical timeline of roughly 90 days after they debut in cinemas. Theatres have long resisted that idea. Warner Bros executives said the strategy would be in place for one year and was a response to the unique challenges posed by the COVID-19 pandemic, which has forced many theatres to remain closed."No one wants films back on the big screen more than we do," said Ann Sarnoff, chair and CEO of WarnerMedia Studios and Networks Group.
Cineworld, owner of the US Regal cinema chain, secured an additional US$750 million in funding on Monday to cushion itself against the impact of the coronavirus as it aims to reopen next year.