Paramount Exec Marc Weinstock Has Faith Streaming and Movie Theaters Can Still Coexist (Video)

thewrap.com:

Weinstock was joined by former IMAX Entertainment CEO Greg Foster for a virtual one-on-one discussion that began with a rundown of Paramount’s numerous box office hits this year, including “The Lost City” “Sonic the Hedgehog 2,” and the year’s highest grossing film “Top Gun: Maverick.” While “Maverick” took up much of the discussion, Weinstock noted that “Lost City” and “Sonic 2” were seen as big wins for Paramount not only for helping to bring women and families back to theaters, but also in drawing in new subscribers to Paramount+ when they were released on streaming after the 45-day theatrical exclusivity window.

Weinstock sees that success as an example of how the recent industry-wide move cutting the long-standing 90-day window in half for many theatrical films is one that has allowed theaters and streaming to coexist in a media environment that has radically changed since the pandemic began.“I think 45 days is the perfect length for the window,” Weinstock said. “I think ‘Lost City,’ if I recall, is the most watched film on [Paramount+].

So you take a good box office result and a great streaming result, and all boats have been lifted.”But streaming has undeniably changed the family/animation section of the film industry, as studios like Disney have pivoted films like “Turning Red” and “Hocus Pocus 2” to streaming rather than theatrical.

While Weinstock pointed to “Sonic 2” and Universal/Illumination’s “Minions: The Rise of Gru” as proof that family moviegoing isn’t going away anytime soon, he does think there will be less animation on the theatrical slate going forward. “Is DreamWorks still going to make movies under Universal?