The hits just keep on coming for the movie theatre business.
The Netflix CEO has already come straight out and said streaming is the future. New Disney CEO Bob Chapek said the genie is out of the bottle and customers demand home releases. Warner Bros. pre-empted the whole thing with their day-and-date HBO Max strategy.
Filmmakers like Christopher Nolan and Denis Villeneuve may hate it. Theater owners may be frightened of it. However, the research now shows that offering day-and-date movies drive people to get out their credit cards and subscribe to streaming services.
The studios would not pursue this course of action if their analytics didn’t tell them they were on to a winner. And now both The Hollywood Reporter and Morning Consult have been out in the market polling customers. It backs up the studios and makes grim reading for exhibitors. The highlights were:
- 90% of current HBO Max subscribers, and 64% of those questioned who are not HBO Max customers, said they were more likely to purchase a streaming service if newly released films were included on a day-and-date basis at no extra cost.
- When asked about Paramount+, movies were the single biggest draw. Only 29% said they are likely to subscribe to Paramount+ however when asked if they would subscribe to watch upcoming Paramount slate movies like Mission: Impossible 7 or Top Gun: Maverick, even for an extra fee, that number jumped to 39%.
- The surveys hit upon between $13-17 per month as the amount an average customer would be willing to pay for a streaming service, with an additional fee of between $9 and $17 for day-and-date premiere movie releases.
This will be exactly what the studios wanted to hear, and the thing exhibitors’ nightmares are made of.
To Like us on Facebook Click Here
To Follow us on Twitter Click Here