The CEO of Warner Bros. Discovery Says Streaming Movies Bring “No Value” to HBO Max

The CEO of Warner Bros. Discovery, David Zaslav, signaled a strategic shift from live release to streaming and back to cinemas. In an earnings call reported by the bundleZaslav cited an analysis of HBO Max’s streaming metrics showing that exclusive releases on the platform do not provide any return on investment.

“We can see what content people are spending time watching, what really works for us in reducing bounce rates, and then there’s a lot of content that isn’t being viewed,” says Zaslav . “And so, in many ways, we were able to get the quarterback on Monday morning, and that’s what led us to the conclusion that streaming movies really aren’t worth it. what for us.”

For example, Magic Mike’s Last Dance—produced by Steven Soderbergh as an HBO Max exclusive—was released in about 1,500 theaters two weeks ago, with an expansion to more than 3,000 theaters this past weekend. Although it has grossed less than previous Magic Mike films to date with $19.4 million, unnamed inside sources told The Wrap that WBD is pleased with the film’s performance — and as a result the series will have a higher reputation on HBO Max than before. yes as a streaming exclusive launch.

“The perceived actual value of content increases when there is great anticipation and excitement and want to be a part of something… and they can experience that content with people,” says Zaslav. another, in a packed theater or on a Sunday night.”