AMC Theaters CEO, Adam Aron, believes Warner Bros. is sacrificing studio, production, and filmmaker profitability with its new HBO Max 2021 release plan.Warner Bros. announced today that its 17-film slate of movies releasing next year will
hit HBO Max day-and-date with theaters and will remain on the streaming service for one month. After that month is up, the movie will be removed from HBO Max, but the theatrical release will continue to show in theaters, like those of AMC. The company's CEO slammed the decision today in a statement to
The Hollywood Reporter."Clearly, Warner Media intends to sacrifice a considerable portion of the profitability of its movie studio division, and that of its production partners and filmmakers, to subsidize its HBO Max startup," said Aron, who is also president of AMC Theaters. "As for AMC, we will do all in our power to ensure that Warner does not do so at our expense. We will aggressively pursue economic terms that preserve our business."Aron said AMC Theaters is already in an "immediate and urgent dialogue" with Warner Bros. He also said the theater chain is confident that incoming COVID-19 vaccines will make it easier for moviegoers to return to theaters safely and with peace of mind.
Aron's statement comes the same day the theater chain announced that it would be selling 200 million shares to raise $844 million, which resulted in a 17% stock drop, as reported by Variety.
This isn't the first time AMC has found itself at odds with a movie studio.
It briefly banned all Universal Pictures releases back in April after the studio
bypassed a theatrical release for Trolls World Tour to release it as a video-on-demand movie.
If you haven't caught the big HBO Max news of today, read about how movies like The Matrix 4, Mortal Kombat, and The Suicide Squad are premiering on HBO Max the same day they debut in theaters. This news comes weeks after Warner Bros. announced that Wonder Woman 1984 will debut on HBO Max the same day it debuts in theaters on Christmas Day.
Wesley LeBlanc is a freelance news writer and guide maker for IGN. You can follow him on Twitter @LeBlancWes.
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