Warner Bros. Discovery Exec Hopes Studio Can Release Up to 25 Theatrical Movies a Year
We're only a few months in following the Warner Bros. and Discovery merger earlier this year, but the future of Warner Bros. Discovery is already starting to take shape with CEO and President David Zaslav at the helm. A bit part of that future, it seems, is Warner Bros.' theatrical slate. A new article from The Wall Street Journal reveals some of Zaslav's strategy for the company and it includes a strong focus on films made to be released in theaters as opposed to those made for HBO Max with Zaslav reportedly hoping the studio can release up to 25 movies a year.
According to the piece, someone "familiar" with Zaslav's thinking said that he wants the studio to focus on upping the number of theatrical releases to hit a range between 20 and 25 per year. By comparison, Warner Bros. released 17 films last year. Part of the rationale for this is that theatrically released films perform better on HBO Max than the films made specifically for the streaming service.
The article also went on to state that budget is a consideration as well, confirming that The Wonder Twins movie was scrapped because its $75 million dollar budget was too high and its return prospects as a made for streaming project was too low. That film had been set to start production this summer with Riverdale's K.J. Apa and 1883's Isabel May set to star. Additionally, there could be other projects initially intended for streaming that now has their futures in question.
"A lot of things that were developed are going to do away," an insider said.
As for HBO Max content, he report goes on to indicate that Zaslav is looking to make additional Harry Potter content for the streamer and has plans to meet with J.K. Rowling in the near future to discuss. The franchise's most recent entry, Fantastic Beasts: The Secrets of Dumbledore, opened to a franchise low of only $43 million at the domestic box office and the fate of the last two films in the planned series are reportedly up in the air. It could present an opportunity for Warner Bros. Discovery to tap into the enduring popularity of the Potter brand for streaming.
The Warner Bros. Discover merger finalized in April with Zaslav taking over. A number of WarnerMedia executives exited the company, including WarnerMedia CEO Jason Kilar, head of studios and networks Ann Sarnoff and general manager of the TNT, TBS, and TruTV cable channels Brett Weitz.
What do you think about Zaslav wanting Warner Bros. to release as many as 25 films theatrically a year? Let us know your thoughts in the comment section.