Cinemark CEO Sean Gamble sees multiplexes as more collateral for Warner Bros.’ tentpoles. For longer periods after Paramount beat Netflix in the battle over the studio.
“Both Paramount and Warner Bros. have been long-time supporters of theatrical exhibition and great partners to Cinemark,” Gamble said at the Morgan Stanley Investors Conference during a Tuesday session that was streamed online. “Based on their actions over many years, this is a real positive. There is clearly a tendency for these organizations to expand further in this area.”
Paramount still must obtain regulatory approval from government agencies to complete the WBD acquisition. “We’ve heard all the right things. There’s still a lot of details we have to work out,” Gamble said. Netflix dropped its proposed $82.7 billion deal for Warner Bros. Discovery instead of matching David Ellison’s Paramount’s $110 billion sweetened offer.
Netflix has come under suspicion by Cinemark in its pursuit of WBD for not giving its films a traditional theatrical release, even as it adheres to a 45-day theatrical window for Warner Bros. Pictures. If you win the integration battle.
Gamble also spoke about the theatrical window continuing to evolve post-pandemic, especially with Disney returning to a 60-plus day theatrical release for many of its feature films. “They’ve proven that this model works and that it’s a good model for the industry,” Gamble said. Zootopia 2 It’s scheduled to arrive on Disney+ on March 11 after a 105-day theatrical window.
Gamble also spoke about a possible Hollywood labor strike later this year following current union negotiations and after three years of double 100-plus days of strikes. “We certainly hope, after all the hardships we’ve endured in recent strikes, which seem to have led to some very damaging conflicts across the board, that level heads will prevail to avoid another situation like this,” the Cinemark chief told an investor conference.
Gamble also spoke about the use of generative AI in Hollywood filmmaking, as long as proper copyright protection is ensured. “The ability to bring efficiencies to how films are produced, and unlock new visual effects capabilities, could lead to a greater volume of films being created in interesting ways and interesting new visuals that we haven’t seen before, which bodes well for the content pipeline for our theaters,” he said.
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