You think cable is expensive? Well prepared to be blown away. A new company from the former CEO of Ticketmaster is hoping to bring new release movies into your home, the same day they come into theaters. The company called Red Carpet Home Cinema, has already partnered with Warner Bros., Paramount, Lionsgate, Annapurna, 20th Century Fox, and Fox Searchlight.
The only problem — each film costs $1,500 to $3,000 to rent. It’s a hard sell for a film that can be seen in theaters for ~$15 or be rented in 6-9 months for just $5. For the absorbent fee, you get the privilege of two viewings in a 36-hour period.
One of the founders, Dan Fellman, already admitted to the New York Times, that this is likely a niche business. “I’m not interested in starting a business that is disruptive to the theatrical experience. Maybe we get 400 homes in New York and L.A. Maybe 100 in each of the 30 biggest cities in the United States.” But, that doesn’t mean that it can’t be lucrative for the founders and studios, “with fewer than 4,000 customers, Red Carpet could have $300 million in annual revenue.”
For some this might be appealing, but for most — you’ll probably have to stick to Netflix if you want to watch theatrical quality films like Roma released the same day they come to theaters. Fortunately, the streaming service already has another Oscar-worthy film in their pipeline. This fall, they will be releasing The Irishman by Martin Scorsese starring Robert De Niro, Jose Pesci, Al Pacino, and a supporting cast of Harvey Keitel, Anna Paquin, Bobby Cannavale, and Ray Romano.