“KPop Demon Hunters” is nowThe top viewed film on Netflix of all time, recently surpassing “Red Notice.” It’s a significant accomplishment for the animated film, which has evolved into a major cultural phenomenon, the kind that Netflix has aimed to create for years. As more proof of this,the movie recently led the domestic box office with $19.2 millionthrough a two-night exclusive sing-along experience. It acted as a small celebration for the streaming service. It also highlighted the company’s contradictory stance regarding movie premieres.
For many years, Netflix has utilized theaters in a very limited way. Typically, any theatrical release is brief and short, primarily aimed at meeting the requirements for awards season eligibility for high-profile films such as Martin Scorsese’s “The Irishman” or Edward Berger’s “All Quiet on the Western Front.” Meanwhile, co-CEO Ted Sarandos has consistently made the company’s position on theaters clear.
“People used to think, ‘I want to create films for a huge screen and have strangers watch them [and have them] shown in theaters for two months with audiences crying and sold-out performances,” Sarandos said at the Time100 Summit earlier this year (viaVariety). “It is a concept from the past.”
That’s why Netflix isn’t willing to stick with extended theatrical periods. That’s partly why the company didn’t even officially release earnings for “KPop Demon Hunters.” It’s also whyThey recently lost “Stranger Things” creators Matt and Ross Duffer to Paramount. Although the box office remains crucial to the movie industry’s overall success, Sarandos has consistently maintained that theaters are obsolete. Further discussing at the summit, he expanded on his views:
What is the consumer attempting to communicate? That they prefer watching films from their home, thank you. The studios and theaters are engaged in a conflict over maintaining this 45-day period that is entirely disconnected from the consumer’s desire to enjoy a movie.
Certainly, theater operators like AMC Theatres CEO Adam Aron have strongly urged Hollywood studios to return to a 45-day exclusive movie release period in theaters before films become available for home viewing through VOD. With regard to Netflix, AMC has shown a subtle but negative stance, even declining to show “KPop Demon Hunters” due to the company’s absence of any dedication to theatrical exclusivity.
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Netflix Should Not Be Allowed to Rely on Box Office Revenue Only When It Suits Them
What is annoying about the success of “KPop Demon Hunters” in theaters is that it enabled Netflix to gain from an industry that Sarandos openly criticizes as outdated. $19 million might seem like a small amount.for a business that brought in $37.5 billion in sales during the previous year, more than the combined total global box office. All the same, if Netflix genuinely thinks the box office is outdated, then why would they ever want to gain any advantage from it?
We offer these custom releases,” Sarandos explained during the summit. “We need to meet certain criteria for the Oscars. They have to be shown for a short period; it assists with the media coverage a bit.
Certainly, struggling chains such as Regal and Cinemark gained significant advantages from “KPop Demon Hunters,” which is why they agreed to distribute the film. Netflix is aware of this. At the same time, it’s frustrating that Sarandos can be so open about their utilization of the current theatrical system, but only when it serves their interests. It isn’t intended to be a two-way exchange. AMC is correct in not wanting to engage with them.
The circumstances are likely to become more complicated in the months and years ahead.Greta Gerwig’s film “Narnia” is anticipated to be shown in IMAX format next year.. This is mainly to satisfy Gerwig, who has experienced the incredible success of “Barbie.” However, theater owners are not pleased that Netflix will secure valuable IMAX screens that could — and likely should — be allocated to another studio’s major release that would receive a more reasonable, exclusive theatrical period.
There’s a reason “Glass Onion” actor Daniel Craig claimed Netflix’s approach is brokenThere’s a clear explanation for why more movie directors are opting for agreements that involve cinema screenings. There’s also a reason why theaters are upset about Netflix’s disregard for their operations, but they still utilize it when it benefits them. It’s obvious double standards, nothing more.
Whether or not Netflix should continue investing in theatrical distribution is a separate issue, but currently, any advantages they gain under the existing system are at best unwarranted and at worst offensive to those striving to maintain the cinematic experience.
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Read the original article on SlashFilm.
