In an unsurprising move–on the heels of Disney releasing Mulan on Disney+ at a premium price point and Warner Bros. decision to release their 2021 slate in theaters and on HBO Max simultaneously–Paramount has capitulated to the pressures caused by the Covid-19 pandemic and will now stream “Mission: Impossible 7” and “A Quiet Place II” on Paramount+; a mere 45 days after releasing in theaters.
The normal theatrical release window is 90 days.
ViacomCBS announced earlier this week that the forthcoming blockbusters will stream to its fledgling streaming service Paramount+, which debuted March 4.
In what is becoming the norm in the industry, other studios have set a similar precedent by working out their own pacts with theater exhibitors: Universal Studios made a deal to shorten its release window, and WarnerMedia controversially decided to release movies in theaters and HBOMax simultaneously for the first month of release.
While most theater exhibitors are against such drastic moves, they are now at the will of the studios as the pandemic has ravaged the theater industry and left many on the verge of bankruptcy. They see these deals as a last-ditch effort to stay afloat until the pandemic has subsided.
The media giant is late to the Streaming Wars, with established juggernauts Netflix, Amazon and Hulu battling up-and-coming challengers Disney+, Apple TV+, and HBO Max.
Lacking the deep pockets of Disney and Apple and the beloved TV catalog of HBOMax, Paramount needed to make a splash to separate itself from the multitude of streaming options. Executives believe that by having blockbuster offerings much sooner than other studios, it might encourage more subscribers to sign up.
They are also producing several movies that are going straight to the streaming service, including a new “Paranormal Activity” movie and a “Pet Sematary” origin story. Paramount also signed a deal with EPIX to bring thousands of other movies to Paramount+.
Paramount also cut bait and sold several titles to streaming services, including: “The Trial of the Chicago 7” to Netflix and “Coming 2 America” to Amazon. However, the studio is holding back its big money-makers for theatrical releases: the aforementioned “A Quiet Place Part II” and “Mission: Impossible 7” as well as “Top Gun: Maverick”.
“A Quiet Place Part II” was delayed several times in 2020, initially slated for a March release. Both it and “Mission: Impossible 7” are scheduled for fall releases.
Fingers crossed, we FINALLY get to see these movies in theaters.
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Source: Fox News