Warner Bros. Discovery CEO Shoots Down Plans for More Streaming-Exclusive Movies

Warner Bros. Discovery CEO, David Zaslav, has recently announced that the media company has no intentions of releasing more streaming-exclusive movies. In an interview with CNBC, Zaslav emphasized the crucial role that movie theaters play in a film’s success, stating that ” the most successful movies are the ones that are relationships with the exhibitors, that are exclusive in the theaters”. This statement marks a significant shift from Warner Bros.’ previous approach, which had released its 2021 slate of films simultaneously in theaters and on the streaming platform, HBO Max. However, this decision received criticism from many industry professionals, with concerns that it could damage the already-ailing theatrical exhibition industry in the US. Zaslav’s comments follow the recent announcement of Warner Bros. Discovery, a merger between WarnerMedia and Discovery, which is expected to be finalized in 2022. This combination is predicted to create a dominant media company with a vast portfolio of content spanning across various genres. The debate surrounding the exclusive release of movies on streaming platforms versus theaters, has been a point of contention for many moviegoers and industry professionals. The decision to limit the streaming-exclusivity of films going forward from such a prominent media company like Warner Bros. Discovery, could have significant implications for the future of the streaming industry, and the theatrical exhibition industry. As the pandemic continues to shape the way content is consumed, the balance between the two industries remains a topic of critical importance.