With some U.S. states preparing to reopen movie theaters, but with very few new releases to be have in upcoming months, Hollywood studios are offering exhibitors popular films including “Jaws” in an attempt to lure wary audiences back to cinemas.
For such older titles, studios are planning to take as little as 30% of ticket revenue, according to people familiar with the matter, a discount from the typical 50-50 split on new films, which have production and marketing budgets that studios need to recoup.
Some venues will also turn back the clock on prices, charging as little as $2 to $5 a ticket, some theater owners said. Many of the movies on offer can be easily rented or are available on streaming platforms such as Netflix Inc.
In addition to “Jaws,” Comcast Corp.’s Universal Pictures is offering up titles including “Back to the Future” and Alfred Hitchcock’s “Psycho.” AT&T Inc.’s Warner Bros. is making a host of titles available, including all eight Harry Potter movies. Lions Gate Entertainment Corp. is offering some of its most popular films, including the four Hunger Games movies.
The retro-movie plan follows recent friction between exhibitors and Universal Pictures, after the studio began experimenting with skipping theaters altogether. Universal’s online release of sequel “Trolls World Tour” last month was more lucrative for the studio than the original’s domestic theatrical run, according to a person familiar with the matter.
MacDailyNews Take: Movie theaters, you’re not going to need a bigger boat.
A) $19.99 for a first-run movie in the comfort of your own house on a large screen, with controllable audio volume (even closed captioning if you desire), with the entire family and your own all-you-can-eat popcorn, candy, and drinks for under $10 total for everyone
B) At least $80.00 for a family of four with criminally-overpriced often-stale popcorn, candy, and drinks at a potentially COVID-encrusted theater packed with uncouth idiots from who-knows-where talking, eating, coughing, sneezing, crunching bags, looking their phones, getting up to go to the bathroom, etc.
It’s such a difficult choice!
The $10 bucket of 10-cents worth of popcorn and the $6 cup of 6-cents worth of soda are obvious clues that theatre owners don’t have a sustainable business model.
Bottom line: It took a global pandemic to wake up Hollywood and drag it kicking and screaming into the new millennium at least a decade late. We’re sure Steve Jobs was telling Hollywood honchos this would happen long ago. — MacDailyNews, April 28, 2020