With Universal breaking the seal on releasing TROLLS: WORLD TOUR directly to streaming next month, it is only a matter of time before other major studio tentpoles follow suit. While films like NO TIME TO DIE and THE FAST SAGA have delayed their release until theatrical venues hopefully resume business as usual, flicks like BLACK WIDOW and MINIONS: THE RISE OF GRU have been pulled without new dates announced.
While it would be a major gamechanger for any of these films to go directly to streaming, the first hint that this may come to fruition appears in an exclusive report from The Wrap that states Warner Bros is in very preliminary talks to release WONDER WOMAN 1984 directly to streaming platforms.
To be clear, talks have reportedly just begun between Warner Pictures Group Chairman Toby Emmerich and his top advisers. In other words, director Patty Jenkins and producer Charles Roven have yet to be made a part of the conversation. That should give you an idea as to how early in the process this concept truly is.
According to Warner insiders, the studio's preference is still to release the movie theatrically — but word has it that executives are contemplating a streaming alternative, most likely as a direct-to-consumer product as opposed to making WW 1984 a part of Warner's HBO Max streaming service launch initiative. This all stems from a continued uncertainty with regard to when cinemas can be made safe for the public. Additionally, once theater doors are permitted to swing wide, it's likely that a number of tentpole releases will be battling for prime real estate in terms of reschedule dates. This of course can lead to screens becoming overcrowded with high profile films, thereby diminishing the amount of solid dates available to unleash a potential blockbuster.
One insider close to the situation says that Jenkins and Roven would like for WONDER WOMAN 1984 to be moved to August, but doubt remains, as we've no clue as to when theaters can safely reopen. It could very well be that prolonged closures will lead to several films being released on Digital platforms, Diana's latest adventure among them.
In talking about the situation, Warner President of Domestic Distribution Jeff Goldstein had told The Wrap that there have not been any streaming discussions. “We’re looking to release the movie theatrically, that’s our plan,” he said.
Roven also sounded as if he's opposed to the idea of a streaming-only release, saying, “It’s ludicrous if you consider how big a movie this is,” he commented in an interview. “Everybody recognizes that, as interesting as streaming might be, if you want a huge, global worldwide box office, you’ve got to release it in a movie theater.”
Unfortunately, moving a film as anticipated (and expensive) as WONDER WOMAN 1984 to Digital isn't as easy as pushing a button. If the film skips a theatrical release, it would need to make up tens of millions in streaming purchases to make the switch a financially-sound move. Greenfield recently put the Wonder Woman conundrum into perspective by saying that a billion-dollar-grossing film normally produce $375 million in profit, but typically VOD has no history of generating the type of numbers needed to make the film a monetary success. In other words, a movie like WONDER WOMAN 1984 would have to hit 16-21 million download units sold for a $1 billion dollar turnover. Furthermore, that's assuming that WB charges $30-$40 per film rental, which we already know consumers will not be thrilled about.
Finally, when talking about moving WONDER WOMAN 1984 to streaming, Roven said that the studio will wait as long as they can before pulling that trigger. “There may come a time we have to make that decision. But why not stay here as long as we can and hope for the best?” he asked. “I don’t think it would be prudent to make a move until take all factors have been taken into consideration.”
Suffering Sappho, COVID-19, you sure are causing a lot of problems in the film industry, among other aspects of a working world.
Just out of curiosity, how much would you be willing to pay to see WONDER WOMAN 1984 on streaming? Is $30-$40 too much to ask? Sound off in the comments section below with your thoughts on the matter.