Disney: Streaming Subscription Growth, Theme Parks Reopen

At the end of Q3, Disney+ had 116 million subscribers, exceeding the 112-115 million analysts had predicted. The most popular content included the Pixar animated feature “Luca,” superhero series “Loki” and live-action film “Cruella.” Meanwhile, Disney Parks, Experiences and Products earned a profit of $356 million. Disneyland in California reopened with limited capacity on April 30 after being closed for 14 months. Disney chief executive Bob Chapek said that park bookings are “really strong” despite the surge of COVID-19 cases with the Delta variant.  Continue reading Disney: Streaming Subscription Growth, Theme Parks Reopen

AMC Opens New Theater Locations, Plans to Accept Bitcoin

AMC Entertainment Holdings is in the midst of changes intended to appeal to its Reddit investors. In addition to opening new locations, chief executive Adam Aron said the company would start accepting Bitcoin at U.S. locations by the end of 2021. After AMC was brought to the verge of bankruptcy by COVID-19 lockdowns, its revenue tripled in the June quarter compared to the previous 2021 quarter. In the wake of that news, share prices rose 4.6 percent to $35.36 in after-hours trading. Its stock ended in 2020 at $2.12. Continue reading AMC Opens New Theater Locations, Plans to Accept Bitcoin

HBO and HBO Max Subscriber Numbers Exceed Expectations

AT&T reported advances made by HBO in Q2 2021: a net gain of 2.85 million total domestic HBO Max and HBO subscribers, including 2.38 million retail net additions, for a total of 47.0 million at the end of the period, representing a gain of 10.7 million over the last year in the United Sates. HBO and HBO Max counted 67.5 million customers worldwide, up 12 million from last year. AT&T chief financial officer Pascal Desroches noted that the numbers exceeded Wall Street forecasts as well as AT&T’s own expectations. Continue reading HBO and HBO Max Subscriber Numbers Exceed Expectations

Universal Signs New Streaming Deals with Peacock, Amazon

Starting next year, Comcast’s streaming service Peacock will begin to show movies from sister company Universal Pictures, sidestepping a long-time deal with HBO for initial TV rights. The 2022 movies — which will reach Peacock no more than four months after theatrical release — include the next “Jurassic World” and the new “Halloween” movies. In addition, Amazon has signed a multiyear deal with Universal to bring the studio’s movies to Prime Video and IMDb TV following their four-month runs on Peacock. Under the new deal, Universal movies will be available on Amazon for 10 months and then return to Peacock for another four months. Continue reading Universal Signs New Streaming Deals with Peacock, Amazon

AMC Chief Exec Adam Aron Still Optimistic in Perilous Times

When COVID-19 hit last year, AMC Entertainment had just taken on $4.8 billion in debt, a combination of a modernization effort that started in 2012 and acquiring competing movie chains to become the world’s largest movie theater company. Now, almost a year into the pandemic, AMC’s debt has risen to $5.5 billion — not including deferred rental payments. Pre-pandemic, AMC generated $5.5 billion a year in revenue. AMC Entertainment chief executive Adam Aron was the first to ink a deal for a limited exclusivity window. Continue reading AMC Chief Exec Adam Aron Still Optimistic in Perilous Times

Survey Suggests Movie Theaters Will Struggle in Near Future

Deloitte Insights’ recent Digital Media Trends survey revealed that 71 percent of consumers are not comfortable about attending a movie in the theater in the next month and just over 50 percent said they wouldn’t go to a theater in the next six months. The survey revealed that a mere 18 percent of U.S. consumers have gone to see a movie in a theater since the COVID-19 pandemic began. Deloitte concluded that, when the pandemic is over, “it is unclear what role movie theaters will play in consumer entertainment.” Continue reading Survey Suggests Movie Theaters Will Struggle in Near Future

Warner to Simultaneously Screen, Stream Its 2021 Film Slate

Warner Bros. announced that its entire 2021 slate, comprised of 17 movies, will be distributed simultaneously via movie theaters and on its streaming service HBO Max where new titles will remain for one month. Warner Bros. made the decision that, despite coronavirus vaccines on track to be widely deployed, the movie-going audiences won’t return to theaters until next fall. The move is also intended to boost interest in HBO Max, which debuted in May for $15 per month as a new competitor to Netflix and other streaming services. Continue reading Warner to Simultaneously Screen, Stream Its 2021 Film Slate

Studios Adapting to Pandemic Limitations with Film Releases

WarnerMedia chief executive Jason Kilar revealed that his company plans to release blockbuster “Wonder Woman 1984” simultaneously in theaters and on its HBO Max streaming service on Christmas Day. He noted the changed environment, in which box office revenue alone doesn’t measure a film’s success but also by the number of new subscribers it generates for the studio’s streaming service. The distribution plan for the much-anticipated release is a sign of how much media companies have evolved to put more emphasis on streaming. Continue reading Studios Adapting to Pandemic Limitations with Film Releases

Universal, Cinemark Sign Deal for Shorter Exclusivity Window

Comcast’s Universal Pictures teamed with Cinemark Holdings, the third largest theater chain in the U.S., to permit online distribution of movies after three weekends (or 17 days) in theaters. The exception is movies that gross $50+ million domestically during their first weekend, lengthening the exclusivity window to five weekends or 31 days. Universal inked a similar deal with AMC Entertainment in July. Pre-pandemic, the exclusivity window was 2-1/2 months from a film’s premiere in theaters until it could be distributed to homes. Continue reading Universal, Cinemark Sign Deal for Shorter Exclusivity Window

Comcast Posts Strong Q3 with Peacock, High-Speed Internet

In July, Comcast reported that its NBCUniversal Peacock streaming service had 10 million subscribers. Now, the company announced, Peacock has 22 million subscribers, adding that it is “a differentiating factor for customers considering Xfinity broadband and is also improving churn.” In the same quarter, Comcast added 633,000 high-speed Internet customers, for its best quarterly results in its history. Comcast stated that, in the first nine months of 2020, cable added more broadband sign-ups than in all of 2019. Continue reading Comcast Posts Strong Q3 with Peacock, High-Speed Internet

Universal Adopts a New Theatrical/Online Distribution Model

During the holiday season, to pump up motion picture theater attendance, Comcast’s Universal Pictures is trying a new distribution model — releasing more movies and making them available sooner for online rental. On December 4, it will release “All My Life” to U.S. theaters, the eighth film slated for domestic release by the end of 2020. That’s almost double its releases during the same period in 2019, and far more than other Hollywood studios. Meanwhile, AMC is offering its theaters for rent, starting at $99.

Continue reading Universal Adopts a New Theatrical/Online Distribution Model