Embracing this day-and-date strategy follows seismic industry shifts last year that led WarnerMedia to release all its films on HBO Max when theaters were more or less closed through zealous restrictions.
A Federal Judge ended the Paramount decrees that ceased Hollywood’s monopoly on producing, distributing, and exhibiting films citing the move would “serve the public interest in free and unfettered competition.”
COVID-19 has decimated global content pipelines by halting film production, canceling greenlit projects, and closing cinemas. However, the present disruptions have only accelerated transformations that were well underway.
The Department of Justice in the United States is preparing to allow Hollywood studios to own film theaters once again. This decision would reverse 70 years of anti-trust law that was implemented in 1948, which is known as the Paramount decrees.