Having grown accustomed to being able to watch brand new movies at home on the day they release, major film studios like Disney are unsure about the future of exclusive theatrical releases for their upcoming movies.
Speaking at a virtual investment conference hosted by Morgan Stanley, Bob Chapek, CEO of Disney said, “The consumer is probably more impatient than they’ve ever been before, particularly since now they’ve had the luxury of an entire year of getting titles at home pretty much when they want them.” He added, “But we certainly don’t want to do anything like cut the legs off a theatrical exhibition run.”
Other studios like Paramount, Universal, and Warner Bros. have already committed to shorter exclusive deals for theatres and have significantly reduced the normal exclusivity period of 75 to 90 days.
Regardless of what happens post-pandemic, Disney is still releasing new movies on Disney+ including the upcoming Raya and The Last Dragon, which will be available on the service starting March 5, albeit with a premium $30 price tag.
Featured image courtesy of Bro Bible via brobible.com