Lily Kholar's blog : Netflix Bunks the Theatrical Push
With major players among the tech giants-turned-streamers and dedicated streaming platforms turning to a mixed theatrical-streaming release model for best effect, it’s easy to assume we’re seeing a clear way forward for the best-performing release models. Yet Netflix, despite its 2022 woes suggesting it’s time for a rethink of how they do business, seems determined to swim against the stream and stick to a streaming-first, theatrical-under-duress release model. Blake & Wang P.A’s expert entertainment lawyer, Brandon Blake, unpacks the issue a little more.
Old vs New
Historically, the larger streamers have put their greatest emphasis on moving original movies to subscribers as quickly as possible, skipping the cinema altogether. However, the extensive challenges of a ‘day-and-date’ style release made themselves all too well known during the pandemic lockdowns- including a massive spike in piracy and other illegal activities.
As the world emerges from the gloom of the pandemic, we’ve seen most legacy studios return to a truncated theatrical release model. In fact, we’ve seen it evolve into a tool that, when marketed well, appears to significantly boost the bottom line of even streaming-intended releases, even with relatively short theatrical windows, too. No doubt this explains why even the streaming-only studios seem to be embracing a mixed release model. Just this year, we’ve seen both Amazon and Apple make massive pushes into cinematic releases.
Against the Trend
Netflix has, in recent years, used truncated release windows to boost the profile of its original movie releases. Especially to bring them in line with awards requirements. However, most cinemas will not show a picture if the exclusive window is too short. Typically, they need at least 30-45 days of exclusive playtime. With Netflix refusing to toe that line, the result has been a patchwork of releases through independent theaters. Which has produced results, don’t forget that! No one can argue that Glass Onion: A Knives Out Mystery likely deserved a far longer theatrical release than it got- and would have made a ton more cash for the streamer, too.
Yet this week, they have reiterated that they will be sticking to their guns and focusing only on the to-platform pipeline for their original movies. We’re not entirely convinced by their claims that the rivals turning to different options are too small in ‘scale and reach’ to have the same challenges Netflix does, either. Apple and Amazon have both vastly expanded their content stables- Amazon, notably, onboarding the massive back catalog of MGM studio products over the last year and a half. Likewise, both are starting to see serious traction in various awards ceremonies. Massive gains in a period where Netflix has made the headlines only for lost subscriptions and potentially subscriber-upsetting moves like their recent password crackdown.
Are they big enough to do without a theatrical release to boost their better content? For now, undoubtedly. But is digging in their heels and bucking the trend for what seems less like true logistical reasons and more a strange kind of stubborn pride? That remains to be seen- but we suspect it will not yield the best of results down the road.
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