Sony doesn’t have much choice in this area. Unlike WarnerMedia or Disney, it doesn’t have a streaming service to support. It is necessary either sell movies to third party services like Apple TV + or offer titles for rent earlier than expected. Vinciquerra, however, has argued for more flexibility over how long a film stays in theaters, saying a mediocre performer should be given the option of leaving theaters earlier while blockbusters stay longer.
However, rising business can be just as risky as WarnerMedia’s HBO Max strategy. The reopening of theaters will depend heavily on the success of mass vaccinations, not to mention the renewed confidence of viewers unwilling to risk their health just to see a movie. So many cinemas are still closed or are not doing well when summer movies as Unexplored happen, Sony may have to scramble to provide digital alternatives where WarnerMedia already has them.
It’s been a tough year for films and theaters with @SonyPictures delaying almost all of its major releases until 2021.
CEO Tony Vinciquerra joined us to discuss the outlook for the film industry.@CNBC @jboorstin @carlquintanilla @jonfortt pic.twitter.com/Jro3Q5fx2B
– Squawk Lane (@SquawkAlley) December 22, 2020