Studios used to play by the same rules. Now each seems to have its own strategy for handling windows and home platforms. A guide — for now.
This week, Paramount opens “Snake Eyes,” an origin story for their “G.I. Joe” franchise, and Universal debuts “Old,” M. Night Shyamalan’s graphic novel adaptation.
In theaters, that is. Unlike the recent “Space Jam: A New Legacy” (Warner Bros.) or “Black Widow” (Disney), these two won’t have immediate home availability.
Confused? You’re not alone. Uncertainty about home access to new releases is now another problem theaters face.
There’s no easy solution to this.
In the ancient times of February 2020, studio movies opened in theaters first, then were exclusive for at least 75 days before home release (streaming, video on demand, Blu-Rays/DVDs). That no longer exists. But what has sprung up is a patchwork quilt of options. And for the consumer, it can be tricky to discern.
Studios are brands of sorts, but they generate little public awareness in terms of release policies. And beyond this, unlike in the previous era of video/DVD et al. releases, the means of the post-theater delivery now can vary widely.
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Adding to the morass, two distinct options exist, each usually exclusive at first (though this is changing). And the battle between them for dominance ranks close to that between studios and theaters as key to what the future holds. Add to that the big-money stakes battle among streaming companies to stand out.
Broadly speaking, two options exist. The first is Premium Video on Demand. PVOD titles are rentals or sometimes digital downloads (EST, electronic sell through) that are paid for as stand-alone items via cable or online platforms like Amazon, Vudu et al. with a standard price of $19.99 (it ranges higher and lower sometimes). Subscriber-based streamers such as Netflix, Disney+, and HBO Max normally offer titles at no extra charge beyond the monthly or annual fee.
With revenues from these largely unreported — unlike with theater grosses — gauging success in part comes from seeing what actions studios take. At the moment, the best gauge of what is working is following studio decisions in choosing among their various home options.
At the moment, here’s how the major studios each handle home release:
Allen Fraser/Unive
Universal
When theaters closed last year, Universal immediately pushed their PVOD options. They transitioned just released films like “The Invisible Man,” “The Hunt,” as well as Focus Features’ “Emma” to PVOD by March 20. Then they released “Trolls World Tour” exclusively on PVOD instead of waiting for theaters, which started a trend with other studios doing the same via various platforms.
Before then, PVOD was mostly a two-week option ahead of standard ($5.99 price) release, which paralleled DVD/Blu-Ray retails availability. It started around the 75 day mark after release. But strong results, in the wake of the pandemic, led to Universal announcing they would henceforth release all films via some sort of PVOD option.
Initially in a deal with #1 exhibitor AMC, Universal agreed to release films on PVOD as early as 17 days after opening in theaters (31 if the first domestic weekend gross exceeded $50 million). This included some reduction of film rental terms and ability for some exhibitors with their own on-line platforms to provide these films themselves.
That has mostly been the pattern since (including for Focus Features, owned by Universal). It has included lucrative PVOD showings for “The Croods: A New Age,” “Promising Young Woman,” and “Nobody.”
One big exception though: The “Boss Baby” sequel showed up on Peacock, NBC Universal’s new streamer, free for subscribers the same day as it hit theate...