The year 2020 will definitely go down in the history books as one of the most intriguing, yet depressing, time periods of the 21st Century. Overwhelmingly due to the COVID pandemic, but also the effect its. [sic] placed on most entertainment venues around the country. Largely affected among them— the film industry. Movie theaters around the globe have felt a direct impact resulting in devastating losses. And if the box office sales for Warner Bros. ‘Tenet‘ are any indication of what’s ahead—the movie industry is in a lot of trouble.
Beloved director, Christopher Nolan’s ‘rewind’ sci-fi ‘Tenet’ is the first release to walk the plank of ‘uncertainty’. While theaters around the U.S. are scrambling to assure [cinema] moviegoers that their territory is a safe bet, major film studios are working to reschedule its line-ups. In fact, most of them [sic] have even turned to their media protége—the streaming service—to do their bidding.
Disney+ and WarnerMedia are a few of the streaming outlets to enter the ‘realm’ of subscription-based content (that’s now brewing within other premium services). The thought process — ‘Why share the cow, when you can just own it? A smart method when you consider studios can then pocket nearly all the profits for themselves.
The espionage-thiller was originally scheduled to open in July, but later opened in August which didn’t make too
—Warner Bros. Studios
much of a difference.
According to an interview with Variety, John Stankey, WarnerMedia CEO, indicated that limited access and modern trends have made it difficult for some ‘streaming’ platforms [like Netflix] to keep a vast library of content at their disposal and flowing with premium programming.
“We want to broaden the relevant demographic base,” Stankey told Variety. “Our goal now is to open the aperture. We want to pick up more content and get more engagement on digital content.”
Meanwhile, Warner Bros. decision to green light Tenet in the mist of pandemic—was a huge risk. Because of statewide restrictions, the espionage-thiller (originally scheduled for a July release) opened in August but by then, the health crisis damage was too great a fate for theaters. Although the problem may also have been linked to the film’s dismal reviews, long-time length and/or complicated storyline. These questions probably left Warner Bros. execs scratching their heads.
Now other film distributors have hit the pause button on what could have been considered a summer blockbuster. In layman terms—back on the shelf. In addition, Disney/Marvel Studio abruptly stalled the release of Black Widow, a franchised character from its most-profitable possession, The Avengers.
The Black Widow’s release yet again.
Black Widow, now slated for a November release date, may again get shuffled now that Tenet’s tallies are looking bleak. To be fair, ‘Widow‘ has a well-known origin among moviegoers, so Tenet’s goal may have been difficult [to achieve] from the start. No doubt the moguls at Warner Bros. were hoping in snatch Nolan’s die-hards with the success of his previous films (ie. Inception, Interstellar). By now, however, those expectation have been laid to rest.
Fast forward to the present day. Now the question is, “What does the future hold for movies like WW’84 and Bond’s Time to Die?” One things for certain— movie studios and film distributors are faced with an impeccable task. Take a wild gambit and proceed with their prized projects? Or wait till this ‘ill-fated’ corona crisis subsides. Either way, the [film] industry’s future is as uncertain as Tenet’s ability to gain traction—and that’s almost an impossible feat.