Despite an overall improvement in Box Office prospects in 2022, the overall mood of the theatrical release model is still in flux. For cinemas, pulling a film like Glass Onion 2 from the screens a week into a highly successful run is a bad move, no questions asked. After its surprisingly successful run from a production house and streamer not exactly known for theatrical releases (Netflix), is it really all that stupid, however? Our resident Entertainment Lawyer Los Angeles, Brandon Blake, from Blake & Wang P.A, examines how this highly truncated theatrical run works out overall.
Records Set
Netflix has been notoriously theatrical-release shy since the beginning. Glass Onion 2 may make them revisit that overall. Not only does its $15M in domestic gross alone position it in a comfortable number 2 spot (behind, of course, Black Panther: Wakanda Forever), it also represents not only their widest theatrical release ever, but also their strongest theatrical takings, with grosses doubling expectation. For it to now disappear for almost a month, until it resurfaces on the streamer on December 23rd, seems ridiculous at first glance. And with nothing solid to replace it in cinemas currently, that’s certainly true on the theater side. Has Netflix left all that money in the wind as it seems, however?
A Large Planned Preview
Despite the solidity of that $15M, it’s a fraction of what this film has the potential to do in theatrical release. But Netflix has always used what theatrical runs it does give us as a marketing tool, a kind of splashy trailer to drive hype for their streaming products. Offering such a small sample for an undoubtedly popular film, then delaying gratification further with a long gap, is a gamble that could net them more subscribers and more eyes on the final product- its run on their streaming service. With no time to lag, viewers saw the theatrical release in ideal conditions with a strong audience at each showing. Word of mouth should be solid. It will qualify for such awards as it has potential to bring home. And it kept an air of near-exclusivity.
It’s a gamble, yes, but one that could pay off well for the streamer in the end. The ultimate expression, if you will, of how theatrical boosts streaming. In the end, it could see more Netflix productions in-theater and other streamers following suit, too. For now, we can only wait and see.
Film and Television 