Marvel Studios’ high profile superhero flick ‘Black Widow’ made its way for a simultaneous theatrical-OTT release amidst the pandemic affected world. The film that was distributed by Walt Disney Studios garnered a rousing box office initial response as its opening weekend grossed over $219 million worldwide. This figure also includes Disney+ Premier Access’s global revenue of $60 million.
However, the film’s box office performance sharply declined in the subsequent week. Theatre owners’ association in the US (NATO) have bluntly attributed the cause of the revenue decline to the film’s simultaneous aka day-and-date release strategy. Particularly considering the favorable reviews and the box office potential the film had.
Disney had previously announced that alongside Black Widow’s theatrical release, the film would also concurrently stream on the Disney+ OTT platform at a premium of $30. Regarding the release model, NATO had stated that it “ignores that Premiere Access revenue is not new-found money, but was pulled forward from a more traditional PVOD window, which is no longer an option.”
The association also pointed out that the film’s simultaneous release on Disney+ OTT might be eating out the foregone revenue that the film had the potential of generating from an exclusive theatrical release. In its own words “Despite assertions that this pandemic-era improvised release strategy was a success for Disney and the simultaneous release model, it demonstrates that an exclusive theatrical release means more revenue for all stakeholders in every cycle of the movie’s life.”
NATO also shed some light on the fact about password sharing among Disney+ subscribers and ‘Black Widow’ being described as reportedly the most pirated movie as per industry sources.
All these facts essentially point out one thing: whether ‘Black Widow’ could have generated greater overall revenue had it been released exclusively in theatres instead of adopting a day-and-date release model?
We can also rephrase the question like this. Considering the $60 million global revenue through Disney+ Premier Access, could Black Widow’s box office numbers (until now) had been greater than the $60 million global collections amidst the rampant pandemic situation? Further, what release strategy could have been more lucrative?
With the benefit of hindsight and with the box office numbers now out in the open, it’s perhaps convenient to conclude that the studio could have averted its OTT release possibly a few weeks after the film’s theatrical release window. However, since many countries are still reeling under tremendous pandemic pressure and where cinemas are not yet open to the public, these prospective viewers wouldn’t have had the opportunity to watch the film at the time of its release.
Moreover, the simultaneous theatrical-VOD release strategy is not new to the global audience. Back in the year 1997 when James Cameron’s epic blockbuster film ‘Titanic’ was released, the makers took the calculated risk to simultaneously release the film on the VHS platform alongside theatres. And the rest is history. The film was a humungous box office blockbuster.
In a similar fashion, we can compare this concurrent/hybrid release strategy with a recent Indian film ‘Radhe’. The makers announced that the film would adopt a hybrid release model and will release in theatres, digital platforms, and DTH simultaneously. This was a bold move planned by the makers of the film.
The difference of opinion amongst cinema hall owners and film studios is a long-standing one. The pandemic-induced day-and-date release strategy has further intensified the debate. It should be understood that the cost-benefit analysis of film studios and theatre owners are also different. And in Black Widow’s case, who is the ultimate beneficiary? We, the audience!