Paramount has reiterated that it’s going to release 30 theatrical movies per year once it completes its hugely expensive $111 billion acquisition of Warner Bros, with 15 coming from each studio.
It’s an extremely ambitious target. Paramount has released an average of just eight or nine theatrical movies each year since 2022, while Warner Bros. has done around 10-12 per year over the same timeframe. That number only refers to major blockbusters, not the smaller titles from partner studios.
Paramount said it will invest serious cash in “expanding the creative engines” of both its own studio operations and those of Warner Bros. “We will maintain both studios while prioritizing the attraction and retention of world-class creative talent, strengthening our ability to deliver a broad pipeline of high-quality content, including 15 theatrical feature films per year per studio, for our combined platforms and third-party distribution partners," the company said.
If the company lives up to its promise, that would mean it’s going to release more than two new blockbuster movies per month. That suggest we’ll see yet more movies from some of the world’s most famous franchises, including Harry Potter, Mission Impossible, The Lord of the Rings, Game of Thrones, Teenage Mutant Ninja Turtles, Transformers, Star Trek and SpongeBob SquarePants, as well as the DC comic universe.
Paramount also said that its blockbuster films will be available for at least 45 days exclusively in theatres before coming to other platforms. At present, Paramount typically gives cinemas anywhere between 30 days to 70 days of exclusivity before its new movies become more broadly available. “Every film will receive a full theatrical release, with a minimum 45-day window globally before becoming available on paid video-on-demand (VOD), with the intention of 60-90 days or more to maximize the audience for our most successful releases," the company explained.
What that means is you’ll have to wait 45 days after each new movie is launched before you’ll be able to buy it as a digital purchase or rental. Then, you’ll have to wait another 60-90 days before it comes to its streaming platforms, either Paramount+ or HBO Max (unless those platforms are merged).
The strategy is different from Netflix, which always releases its own movies directly on its streaming platform. After originally having its bid to acquire Warner Bros. accepted, Netflix said it would consider introducing a theatrical release window for some new movies, but its plans were scrubbed when Paramount stepped in with a bigger bid.
Paramount made the promise in a presentation to investors, where it announced that Warner Bros.’ shareholders had formally accepted its offer. Netflix has already received the $2.8 billion termination fee it was owed after Warner Bros. pulled out of the original deal.
While Paramount and Warner Bros. are naturally trying to frame the acquisition as a boon for the film industry, plenty of analysts are less convinced about the deal’s merits. David A. Gross told Variety that neither Paramount nor Warner Bros. has the ability to step up production so drastically. He said the promise is “extremely unrealistic.”
Michael O'Leary, president of the industry association Cinema United, also questioned Paramount’s claims while reiterating his opposition to consolidation in the film industry. “Studio consolidation historically leads to fewer movies being made, and at this juncture there is no reason to believe the outcome here will be any different,” he said. “We continue to urge regulators to heed the lessons of the past.”
