MORE FILM DELAYS LOOMING, HBO MAX AGREES TO PAY FILMMAKERS
Updated: Feb 25
WEEKLY FILM INDUSTRY NEWS DIGEST, UPDATED SUNDAY JANUARY 17TH
Hollywood Prepares to Delay Another Slew of Blockbusters
Getting back to the movies in any normal fashion seems as unrealistic today as it did last March when cinemas across the nation were shuttered.
Warner Bros. Guarantees Filmmakers a Payday for HBO Max Movies
Here's how it will work, according to the people familiar with the situation: When movies come out this year, anyone entitled to a bonus will receive one at half the box-office revenue that would normally be needed to trigger a payout. And if more theaters close down, the threshold will fall further — a stipulation called the "Covid-19 multiplier."
Those who would normally participate in profits from box-office receipts will continue to do so, as well as benefit from on-demand and online sales. HBO Max will pay Warner Bros. a fee for its 31-day window, and the money from that will be shared with not just profit participants, but cast and crew.
Warner Bros., Legendary Nearing Deal to Resolve Clash Over 'Godzilla vs. Kong'
Legendary is still negotiating with talent on Godzilla but that is not expected to derail a deal. The movie will keep its May 21 release date in theaters, including IMAX, as well as HBO Max.The situation is more complicated for Dune, though the parties are said to be moving close to an agreement on that project as well. Filmmaker Denis Villeneuve has written passionately about his desire for an exclusive theatrical release and Legendary is backing him in that demand, according to a knowledgeable source.
Netflix unveils 2021 “film a week” slate
The slate of 70 features – 10 of which are not in English – is a statement of intent from Netflix head of original films Scott Stuber, who has been in the job for three years and is shaping a pipeline with a higher level of quality, name talent, and consistency at a time when competing platforms are investing heavily in their own businesses.
Sony Marvel Movie ‘Morbius’ Moves To The Fall
Sony’s Morbius, starring Jared Leto, has been moved back by seven months, from March 19 to October 8. Morbius moves to a release date currently occupied by United Artists Releasing’s animated sequel The Addams Family 2. This is a major Marvel movie for Sony, and the studio is protecting it rather than sending the pic to PVOD.
‘Sopranos’ Prequel Movie ‘The Many Saints Of Newark’ Heads To The Fall
Paramount Removes Lee Daniels’ ‘Billie Holiday’ From Schedule As Pic Heads To Hulu
. Paramount was planning a Feb. 26 release. New Slate Ventures, the financier of Billie Holiday, was in need of monetizing the film, and a Hulu sale was the better option for them versus a theatrical release via Paramount since 60% of domestic exhibition is closed down. CAA Media Finance brokered the deal for The United States vs. Billie Holiday move to Hulu, and we heard that the new deal is more than double what Paramount’s current deal for the pic was.
Chris Pratt’s ‘The Tomorrow War’ Sci-Fi Movie Shopped To Streamers
Paramount/Skydance Chris Pratt movie The Tomorrow War was recently screened to the major streamers over the weekend…Skydance, I understand, is leading the process in selling the movie here, not Paramount…Amazon has aggressively offered $200M. The deal is still not done.
If it was a normal marketplace, The Tomorrow War, which tested very well, would stick to a theatrical plan. The pic was originally scheduled to be a Christmas tentpole and currently has a theatrical date of July 23, 2021.
‘The Office’ Was by Far the Most-Streamed TV Show in 2020, Nielsen Says
Last year, Americans cumulatively streamed more than 57 billion minutes of “The Office,” the comedy favorite that originally aired for nine seasons on NBC, on Netflix, according to figures released Tuesday by Nielsen…The next-biggest show was past seasons of “Grey’s Anatomy,” also on Netflix, with an estimated 39.4 billion minutes streamed. Indeed, Netflix had a lock on the top 10 most-viewed licensed TV shows,
Among original series on the SVOD services Nielsen tracks, Netflix grabbed nine of the 10 spots, with “Ozark” taking first place. That was followed by “Lucifer,” “The Crown” and “Tiger King.” The only non-Netflix show was Disney Plus’ “The Mandalorian,” with the hit Star Wars spinoff coming in at No. 5.
Kevin Hart & HartBeat Productions Make Megabucks Exclusive Netflix Film Deal
The exclusive partnership calls for Hart to be the star of at least four films he’ll produce, with a first-look film producing deal also part of the pact. It’s a major commitment for the star and the streamer. Last time Netflix made a film commitment this big with a comic star was the one it renewed with Adam Sandler that was said to be in the $150 million vicinity.
Hulu Cuts Price For U.S. College Students To Two Dollars A Month
The Disney-owned streaming operation describes the 65% discount as an “evergreen deal.” Eligible students aged 18 and older can sign up for the deal starting today, and will get the lower rate as long as they can verify they are still a student.Hulu also has been part of previous college offers. A $5-a-month Spotify Premium bundle includes both Hulu and Showtime. Amazon has also offered six free months of Prime Video service to college students, with monthly subscriptions costing $6.49 beyond that.
UK TVOD numbers 2020
Joker was 2020’s biggest home entertainment title in the UK, with more than 1.4 million copies of the film sold across physical disc, EST and TVOD, according to industry body BASE. In total, the market was worth £3.3BN across the year, up 26% on the previous 12 months. Digital formats accounted for that growth, with TVOD (transactional video-on-demand / rental) purchases up 24% in 2020 and EST (electronic sell-through, or digital purchase) across both film and TV up 14.5%. During the lockdown, the total number of customers buying and renting grew by 14% to 12.9 million, according to research company Kantar. Streaming services such as Netflix and Amazon grew by 42% in the year and now represent 74% of the total market value. The market for physical was down from £477M in 2019 to £365M in 2020, with the closure of some high street retailers for much of the year impacting sales.
France’s Cinemas Will Remain Closed To End Of January, At Least. https://deadline.com/2021/01/french-cinemas-to-remain-closed-end-of-january-2021-covid-international-box-office-1234666628/
Tokyo cinemas reduce operations as second state of emergency announced. https://www.screendaily.com/news/tokyo-cinemas-reduce-operations-as-second-state-of-emergency-announced/5156058.article
AMC Entertainment Raised $200M In December Out Of $750M Needed To Survive Covid
AMC Entertainment CEO Adam Aron said Tuesday that the nation’s largest cinema chain had raised $204 million in two weeks in December out of at least $750 million it needs to get to the other side of a global pandemic that has crippled moviegoing...“We’re not there yet. … We are off to a very good start,” Aron said. “But we will need to raise more capital to make it to the other side.”...A group of bondholders have been nudging AMC to file for Chapter 11 and restructure, which it ultimately might have to do. But Aron clearly is hoping to avoid that. AMC is majority owned by Wanda Group of China, which would see its holdings wiped out in a bankruptcy along with other shareholders.
Disney Plus Reveals First Titles For International Star Brand
Disney says the Star lineup will double the amount of content available to watch on Disney+ overseas, including shows and films from Disney Television Studios, FX, 20th Century Studios and 20th Television…(It) will host the first two Star Originals in the shape of drama Big Sky from David E. Kelley (Big Little Lies) and Love Victor, which is set in the world of the original 2018 film Love, Simon. Also showing on the channel will be hit series 24, Lost, Desperate Housewives, How I Met Your Mother, Prison Break, The X-Files, Atlanta, Black-ish, and some of the Die Hard movies. The lineup announced today is UK specific so local rights restrictions may apply in other markets.