Stock Groups

‘The Many Saints of Newark’ has $5 million opening box office haul

[ad_1]

Still from “The Many Saints of Newark.”

Warner Bros.

The latest is “The Many Saints of Newark”. Warner Bros.Film to show the dangers of simultaneously releasing content on both streaming and theater platforms.

The prequel feature film to HBO’s award-winning series “The Sopranos”, which was released in the same weekend, only brought home $5 million domestically.

Although the film received decent reviews, its “R” rating and association to a show that ended more then a decade ago was enough to bring in box-office experts. temper their expectationsThe film was released in. Estimates of the domestic debut ranged between $7million and $12million.

It is possible that “The Many Saints of Newark”, despite its modest box-office haul, did not do well because HBO Max made it available free of charge at the time it premiered in theaters.

Paul Dergarabedian from Comscore, senior media analyst, stated, “As one of most-anticipated movies of the fall movie seasons, ‘The Many Saints of Newark’ undoubtedly increased viewership for HBO Max.” “The day and date release gave fans the opportunity to watch the film at home, where they first discovered and became obsessed with ‘The Sopranos.’ It may be responsible for this weekend’s box-office results in theaters.

CNBC did not receive a response from Warner Bros. Representatives have yet to comment.

Studios opted for both streaming and cinema to distribute many of the new movies throughout 2021. These were decisions made long before the advent of vaccinations and before people were able to watch movies again in cinemas.

In recent months it has been clear that ticket sales have been cannibalized by the dual release.

This has had a significant impact on Warner Bros., who made the late 2020 decision to simultaneously release all of its 2021 films in theatres and online via HBO Max.

The Suicide Squad, Space Jam: A New Legacy and In the Heights have all attracted HBO Max viewers. but this meant fewer people ventured out to theatersEach film’s box office and theatrical runs declined more rapidly.

Shawn Robbins (chief analyst, Boxoffice.com), stated that he doesn’t think there is much to say about the struggling hybrid model following Warner’s series of misfires.

After seeing the same results from their films, other studios now use a theatrical window strategy. DisneyBox office returns for “Black Widow” (and “Jungle Cruise”) were lower than expected. because of availability on the company’s streaming service for a $30 fee.

Warner Bros. has announced the news it would also be returning to cinema-only releases in 2022 during its parent company AT&T’s earnings call in July

[ad_2]