Cedars, Spring 2021

Spring 2021 By Sam Acosta I n late 2020, Warner Bros. made an announcement that rocked the movie industry: all of their 2021 movies would be available on HBO Max on the same day they were released into theaters. This revelation sparked much debate within the industry about the future of the theater business. With COVID-19 restrictions forcing many theaters to close down indefinitely (sometimes permanently), the future of the industry is highly uncertain. For some, the movie-going experience is one that must be cherished and protected. For others, streaming represents the future of cinema. For film studios, the strongest argument for streaming is also the simplest: bypassing theaters leaves more money for them. In March of last year, Universal Studios announced that the upcoming “Trolls: World Tour” would be released to streaming exclusively. This setup means that instead of splitting the profits almost 50/50 with theaters, the studio would reap around 80% of the revenue, with the remaining 20% going to streaming platforms. While the movie received mixed reviews, Universal ended up making nearly $100 million without a theatrical release. The Wall Street Journal compared the success of “Trolls: World Tour” to its predecessor “Trolls,” which had a domestic box office gross of around $154 million. While, at first glance, it may seem that the first movie did better, about half of that sum went to theaters, meaning Universal walked away with only $77 million, $23 million less than the streaming-exclusive profits of the sequel. While exclusive streaming releases are still a fairly tentative phenomenon, it is evident that studios are not as afraid to test it as they once were. It seems to be the only way to release movies nowadays, with COVID-19 still keeping most businesses either shut down completely or extremely limited in their activities. If this strategy is, in fact, the way to rake in more profit, then now is the perfect time to learn how to do it. What about the consumer? Which option offers the better deal? For some, it all boils down to one primary factor: convenience. It is much easier to watch the newest release from your couch than it is to travel to a theater to watch it. At home, you can enjoy the latest Avengers blockbuster or animated family film in your pajamas, no hassle, no worries. Anna Varney, a freshman Psychology major, described how, at home, she didn’t have to worry about talking or making too much noise during the movie because she had the freedom to enjoy the movie experience any way she wanted. “I wouldn’t turn down an offer to go to the movies, but it isn’t my first option,” she said. “If you’re not going opening night, there’s no point.” FROM THE SILVER SCREEN TO YOUR LIVING ROOM The movie theater vs. streaming debate