The Lovebirds will be the first movie to be pulled from the cinema due to the corona virus moving to Netflix
As more studios attempt to navigate through various methods of releasing their films during the coronavirus pandemic, especially now that theaters across the country have closed, most films have received digital releases. Paramount’s The lovebirds, a comedy starring Kumail Nanjiani and Issa Rae, marks the first time in this period that a studio movie lost its theatrical release and goes straight to an external streamer – Netflix.
The lovebirds was originally slated to hit theaters on April 3, but Paramount announced last night that it will skip straight to Netflix instead. Paramount and Netflix are currently partnering with a few titles, said Paramount CEO Jim Gianopulos. In particular, Paramount sold The Cloverfield Paradox on Netflix. The streamer then released it as a surprise after the Super Bowl in 2018. Gianopulos told investors and analysts in 2018 after the deal that Paramount would use the co-company “when and where it makes sense.” This seems to be one of those times.
The lovebirds is it not Black Widow at the end of the day. It’s a mid-budget movie that makes sense for a streamer like Netflix, especially considering what’s happening to the industry right now. Paramount also chose to postpone its long-awaited sequel A quiet place, a quiet place II, until later in the year.
The lovebirds is it not Black Widow at the end of the day
Check out the ticket numbers for these types of movies. The James Bond franchise was estimated to be about $ 20 billion in 2015. A Quiet place raised $ 340 million worldwide, which is an impressive achievement for a horror movie without a pre-existing IP. These are films that studios think can make a decent return on their investment through the traditional theatrical release system.
Those who cannot, choose alternative routes. Magnolia Pictures delayed the release of the documentary Kill the dragon and changed the distribution release so that it can be rented through digital services. Another studio in China made the projected biggest movie of the year free to all subscribers to its own streaming platform because of the new coronavirus outbreak, as an example. Movies currently in theaters such as Furthermore, Sonic the Hedgehog, Emma, The Hunt, and more receive early VOD and digital releases as more people stay at home and theaters close by. It is a trend that will disrupt parts of Hollywood and the cinema experience. As The edge previously noted:
What we see instead is that studios like Universal are starting to make pipeline decisions. There are mid-range movies that don’t need an exclusive 90-day theatrical release. Movies like Emma and The hunt might do better through $ 20 VOD rental than in a theater. The average ticket price, according to NATO, is $ 16. If a family of four wants to watch The hunt, it’s over $ 50. But $ 20 at home where everyone can view and eat their own snacks is a much more attractive offer. Warner Bros. ‘ Birds of prey did well at the box office, grossed $ 84 million domesticallyBut now that people are at home, chances are more people will find out through a $ 20 rent while looking for entertainment to fill their time. Even the director agrees.
The lovebirds is not yet on Netflix, but will probably appear on the streamer on April 3.