Releasing Tenet on HBO Max could be the best move for Warner Bros., according to industry analysts. The upcoming Christopher Nolan film has plenty of momentum behind it, but the ongoing Covid-19 pandemic has posed significant problems.
The first Nolan film since 2017’s Dunkirk, Tenet, has been able to build anticipation through a very measured promotional campaign. Little is known about the actual plot of the film and concepts that were originally attached to it in its early days – such as it being a time travel movie or that its characters potentially face nuclear holocaust, have all since been debunked. What’s more, the release of Tenet was intended to breathe new life into cinemas, offering a much-needed return to form in light of global theatre closures due to Covid-19. But after being subjected to a quick series of release date changes, exactly when Tenet will officially release remains unknown.
Throughout all of this, however, Nolan remains undeterred. He has previously gone on record to reaffirm the importance of cinemas during these difficult times, and his desire to ensure that Tenet releases in theatres is clear. But some industry analysts feel that the best move for Warner Bros. at this point is to release Tenet on HBO Max. The suggestion was initially reported by The Wrap and comes from LightShed analysts Rich Greenfield, Brandon Ross, and Mark Kelley, who wrote:
“Shifting ‘Tenet,’ a $200 million-plus budget film from Warner Bros., directed by Christopher Nolan directly to HBO Max could be just the power move WarnerMedia needs right now. If WarnerMedia has the guts and financial wherewithal to pivot ‘Tenet’ to HBO Max, we will quickly learn who is ‘king,’ content or distribution. Movie theaters have essentially prevented movie studios from evolving their business model over the past decade, even as consumer behavior has dramatically shifted. Studios have been stuck with the legacy sequential release pattern of movies with 75 days between theatrical and digital sale and six-to-eight months between theatrical and release into pay one. The COVID-19 pandemic has enabled studios to begin experimenting. Studios have only two ‘good’ choices for large budget films: Either delay films into 2021 in hopes of a vaccine or shift to (subscription video on demand).”
The suggestion comes as AT&T CEO John Stankey has insisted that Tenet will definitely not release on HBO Max in advance of a theatrical release. There does seem to be strong opinions on this issue from both Warner and Nolan, which makes sense considering how high expectations have been for Tenet. As of this writing, Covid-19 continues to be a significant issue – particularly in America. It’s currently unclear just how long theatres will remain closed, though other countries are now moving toward reopening their economies and public services, such as theatres. This presents the possibility of Tenet’s opening being a staggered one, rather than the traditional single global release day which is often the norm for films of this stature. However, even if Tenet pursues a staggered release model, it’s doubtful that the sort of numbers required to recoup its sizeable budget can be achieved in this way.
The case of Tenet is one of the more tragic consequences of Covid-19’s impact on the entertainment industry. While it may be convenient to watch a film on via a streaming platform or VOD, some movies are built for the theatrical experience. Tenet, it seems, is one such film. Warner and Nolan are standing their ground in the best way possible on this issue, but eventually, it will be difficult to justify insistence on a theatrical release. Tenet’s budget is too high, and the costs needed to recoup are too substantial to disregard the option of an HBO Max release. Could a release now on HBO Max and a re-release in theatres once things return to normal be the answer? It’s an issue that won’t likely be resolved for some time yet.
Source: The Wrap
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July 24, 2020 at 05:14AM
