AMC CEO wants movies to stay in theaters longer
AMC CEO wants movies to stay in theaters longer
CEO Adam Aron of AMC says it’s time to think about expanding theatrical windows to pre-COVID levels once again.
Count AMC CEO Adam Aron as a believer in the maxim that a rising tide lifts all boats. Aron spoke to analysts at AMC’s quarterly conference call on Tuesday to discuss the company’s latest earnings report, and he had plenty to say about the practice of moving films to streaming platforms as soon as 17 days after their initial release. In Aron’s view, it’s time to bring back the theatrical windows that existed before the COVID-19 pandemic, and he thinks such a move will benefit studios, theater chains, and streamers alike.
Key Details:
- Aron wants streamers and studios to commit further to the 45-day release window that has become a standard.
- Eventually, he wants to see the minimum windows climb back to 74 days.
- The executive also wants Netflix to follow the example of Apple and Amazon in putting more movies in cinemas.
During the call, Aron expounded on his views that it was time to reconsider how long movies stayed in theaters before moving to streaming. He called the discussion around the question “a very live debate right now.” However, he made no secret of his views on the question.
Aron pointed out that even though theaters and streamers agreed on an unwritten rule that movies should stay in cinemas for at least 45 days, some movies have been exhibited for as short as 30 or even 17 days before hitting top streamers.
“In our view, 17 days or 30 days are too short, [and] this is a conversation that is front and center, live,” he said.
Most major studio films do adhere to the 45-day standard, but Aron wants to make that floor more firm. He also wants to lift the ceiling on theatrical windows, saying he believes a return to 60-day, or even 74-day minimums as in the days before COVID would be a boon to all. Studios and theater chains both stand to make more from box office receipts than they do from views on streaming services — even ad-supported plans — and Aron also argues that streamers get more viewership from movies that have had a trip through theaters.
“A general consensus has emerged in Hollywood — not by all, but by most — that the most successful movies on streaming platforms are those that go to theaters first and those movies that have a great theatrical release often wind up being the most-watched movies on streaming services,” he said.
He then pointed to companies like Amazon and Apple, which have made significant investments in movies intended to be put in theaters before they stream on Apple TV+ and Prime Video. He called on Netflix, which has traditionally resisted putting its original movies in theaters in all but a handful of cases, to do likewise.
“We continue to reach out to Netflix,” he said. “And right now [Netflix’s adaptation of ‘Narnia’] is scheduled to play on AMC Imax screens. We would love to be able to convince Netflix that embracing theatrical releases is good for them. They did it with ‘Glass Onion.’ They are doing it with ‘Narnia.’ We’ll see where this goes.”
There’s no doubt that Aron’s words are motivated by self-interest, but it would hardly be a surprise to see studios increase theatrical windows for movies in accordance with his words. Many media companies with movie studios also own failing cable channels, and a chance to boost revenues from theatrical releases to make up for those losses could prove a tempting pull for many.
A previous version of this article incorrectly stated that AMC’s earnings call took place on Wednesday, instead of Tuesday.
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