Dear Industry Stakeholders,
We need all the entertainment we can get right now, so why delay the releases of movies such as Mulan, In The Heights, Black Widow, and No Time To Die?
“…rescheduled for theatrical release as life returns to normal.”
“To avoid catastrophic losses to the studios…these titles must have the fullest possible theatrical release around the world,” an earlier statement from the National Association of Theater Owners (NATO) reads. “While one or two releases may forgo theatrical release, it is our understanding from discussions with distributors that the vast majority of deferred releases will be rescheduled for theatrical release as life returns to normal.”
Do you think that life will go back to “normal” when the quarantine has been lifted? Will traditional distribution business models continue to exist in its current state after a pandemic disruption? This is not a bad nightmare we’re all just waking up from.
By now, every industry professional should realize that this global crisis merely magnifies vulnerabilities this industry already had ever since the first Blockbuster went out of business.
Theaters need to be treated more as marketing vehicles in addition to being a distribution platform (one of many). We can’t keep on relying on these old school strategies as our main source of revenue while the world continues to embrace more platforms from desktops and mobile devices to immersive technologies.
Take independent distributor NEON as an example. NEON reminds us that they’ve never put out a movie without theatrical support, and this will be no different. Spaceship Earth will play on drive-in screens and “select pop-up city-scape projections (safely accessible by quarantined city dwellers).” However, the latter isn’t exactly theatrical distribution, but it’s a way of seeing the movie projected and experienced communally.
Disney is also leaning more heavily on Disney Plus as an outlet for its premium content while theaters across the globe are closed during the COVID-19 pandemic. Star Wars: The Rise of Skywalker will begin streaming two months earlier than previously scheduled.
Seize this extraordinary moment as a chance to throw new ideas against the wall to see what sticks and moves the studio system into the 21st century. And if you need more inspiration beyond Disney and NEON’s innovative moves — here are some thoughts off the top of my head:
Redefine what an opening weekend means without the overly indulgent red-carpet screenings and A-list celebrities
Incentivize viewers to stream a movie at a premium rate for a chance to be a part of the premiere experience digitally (TikTok contests, Snap filters, online contests, etc.)
Reverse engineer pricing models like offering new movies at a lower cost when it first releases as a reward for watching on opening weekend
Bundle more content for the first million viewers whether it’s adding on a short or an old film from your library that ties into the new film
Encourage us to head back to the theater by re-releasing this summer’s blockbusters next year or whenever it’s safe to do so to experience the film on a grander scale and at a discounted rate if we’ve already streamed it (maybe the Apples and Cinemarks of the world can build fully integrated partnerships)
In less than two months, sheltering in place has already crippled our economy and a majority of businesses, from small to big enterprises worldwide and across sectors. What can extended quarantines and a second wave of outbreaks do to our economy? Many companies have already laid thousands of employees off and have even filed for bankruptcy. Vulture investors have begun eating up distressed opportunities and much more carnage is on the horizon.
With very little time on our hands to pivot, innovate and think way outside of the movie theater box, salvage our industry and remember that content is king. Yes, the biggest cliché but also the greatest truth. So please don’t hoard your great content in the hopes of monetizing it for more later when it will probably be too late.
The reason why the movie business was recession proof through all the past recessions was that it provided a way for people to escape from reality. I implore you to keep that same mantra – help us escape from reality NOW and remind us why movies matter.
Sincerely,
Katherine
PS: If anyone feels like having a Virtual Town Hall to hash this out, let’s do it! My team and I available to set it up.
Katherine Winston has been at the forefront of event production, marketing and emerging trends for over twenty years. As co-founder and managing partner of WINSTON | BAKER, she oversees event production, marketing strategies, new initiatives and business operations. In her previous role as Director of Marketing for RealD, she was in charge of creative advertising, supervised public relations, and organized event participation, product launches, and screenings. Prior to RealD, Winston was Senior Marketing Manager for GoTV Networks, where she was responsible for all aspects of marketing strategy and execution, including corporate and consumer marketing, web-to-mobile advertising, print, online, and experiential marketing, public relations, and managing brand partnership deals. Before GoTV, Winston was Conference Producer for Strategic Research Institute where she was responsible for producing high profile investment conferences for various sectors, including e-commerce, nanotech, defense & aerospace, biotech, law, real estate, and entertainment, among others. Winston earned a Bachelor of Arts degree in Psychology with honors from the University of Washington, is a Phi Beta Kappa and National Association of Professional Women member. As a fervent advocate of entrepreneurialism, Winston is dedicated to connecting innovators with seasoned professionals who can fuel development and growth.