It was meant to be the year of female superheroes, with a little help from James Bond, a gritty street-racing Vin Diesel, and a jet-soaring Tom Cruise. Instead, movies like “Wonder Woman 1984,” Disney’s “Mulan” remake, and others that were expected to be among the year’s biggest ended up streaming online, while others were moved back in the hopes of avoiding the coronavirus epidemic.
It’s a reality that would have been unfathomable only a few years ago when these films were approved. After all, conventional Hollywood studios don’t invest hundreds of millions of dollars in a film just to see it for the first time at home with their viewers.
However, with cinemas shuttered for much of the year, Hollywood companies have been forced to recalculate a movie release schedule that has been completely thrown off by the ongoing worldwide health crisis. However, industry experts believe that the current juncture is a turning point that will not be erased by the epidemic.
Streaming has never been more popular, and movie theatres are confronting an existential danger unlike any other. It’s hardly an exaggeration to suggest that until the globe has recovered from the COVID-19 epidemic, the film landscape will never be the same.
Studios appear to have limited alternatives for their greatest films owing to the pandemic-related closure of most theatres across the country.
“You either sell to the streamer or die inside a theatre,” explains Schuyler Moore of Greenberg Glusker, an entertainment legal firm. “Select one.”
As a result, the cinema landscape in 2020 has been coloured by eye-popping, often head-scratching transactions. To deal with the epidemic, each one of the big Hollywood studios has adopted a different approach.
The studio does not have a streaming service through which to distribute its films. As a result, the studio has become one of the more aggressive sellers, selling “Coming 2 America,” the long-awaited sequel to the Eddie Murphy classic, to Amazon Studios in a $125 million deal as well as sending Aaron Sorkin’s newest “The Trial of the Chicago 7” to Netflix.