Warner Brothers (parent company AT&T, (NYSE: T) is following in the footsteps of Universal Studios (parent company Comcast, (NASDAQ: CMCSA) and is set to follow a dual-release schedule in 2021. WB's considerable roster of releases for next year will be released both to theaters and HBO Max.
Warner Brothers' decision to opt for a dual-release schedule follows a precedent set by its contemporaries during the coronavirus pandemic. Studios such as Universal released films digitally amid the closure of movie theaters and began entertaining the prospect of releasing films both to theaters and digitally shortly thereafter. AMC (NYSE: AMC) met Universal's musings of a dual release schedule with an announcement that it would no longer screen Universal films as it "threatened" the traditional release model. However, this appears to have done little to dissuade other companies.
Warner Brothers' plans for 2021 will see its upcoming releases (17 films in all), including a fourth entry in the Matrix franchise and a new adaptation of Frank Herbert's seminal novel Dune. Many details of the release schedule, such as the terms that theaters may be given when screening WB films, have not been released.
"This hybrid exhibition model enables us to best support our films, creative partners, and moviegoing in general throughout 2021. We have a fantastic, wide-ranging slate of titles from talented and visionary filmmakers next year, and we're excited to be able get these movies in front of audiences around the world. And, as always, we'll support all of our releases with innovative and robust marketing campaigns for their theatrical debuts, while highlighting this unique opportunity to see our films domestically via HBO Max as well," Warner Brothers Pictures Group Chairman Toby Emmerich told The Hollywood Reporter.
Theater chains are, understandably, unamused at the prospect of the dual release schedule, with many decrying Warner Brothers' decision. The decision has also been met with friction by Legendary Pictures, the studio behind upcoming films Godzilla vs. Kong and Dune. Legendary had reportedly only received notice of the decision the day of the announcement and has considered legal action.