What does the future of theaters look like? That has been one of the resounding questions since the coronavirus (COVID-19) pandemic shuttered cinemas around the globe, with major markets in the U.S. still closed down amid surging cases across the country. According to AT&T CEO John Stankey, it’s not looking great. The chief of the WarnerMedia parent company spoke about the future of movie exhibitors in an investor conference call, painting a pretty grim picture for movie theaters through at least early 2021.
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In an ongoing global pandemic, some have wondered if Warner Bros. would stop messing around with shifting its theatrical release date for Christopher Nolan‘s Tenet and instead bite the bullet and drop the film directly onto the newly-launched HBO Max streaming service. But on a conference call today, John Stankey, the CEO of Warner Bros.’ parent company AT&T, reiterated that giving Tenet a direct-to-streaming release is not a possibility.
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Since being forced to shut down last month, the American movie theater industry has suffered untold losses and remains on shaky ground. So when an executive for AT&T, which owns one of the biggest movie studios in Hollywood in Warner Bros., says that WarnerMedia is “rethinking” its theatrical model, it will likely be a cause for even more concern for those in the already-struggling exhibition community. Read More »