Asked by moderator and UBS analyst John Hodulik
about the blowback from Hollywood’s talent community and the exhibition business, Stankey said, “We’re all participants in a market that serves customers. The longer-term impacts are going to be dictated by what consumers wish to do.”
He said the move acknowledges
“the reality of where markets are going right now” in the movie business.
“Customers have a tremendous amount of choice as to how they choose to engage with content. If we just simply sit here and say, ‘This is about whether or not people go to movie theaters,’ I think we’re missing the broader point. Today, even before
WarnerMedia made this decision, customers could go watch great, two-hour content on a variety of competitive services … some of them very significant releases. Customers are going to drive what happens in a market, ultimately.”
As to the post-pandemic world and whether studio release patterns will return to some semblance of the previous ones, Stankey said the company will “adjust and work the model differently.” Overall, though “having choice” will remain a constant, he predicted. “We’re not putting one over the other,” Stankey said of theatrical and streaming. “This to me seems like a very friendly and innovative approach.”