Why Paramount failed to compete against Disney and Netflix:
launched a new original horror series, while was on the verge of being Paramount’s first “new” successful IP adaptation franchise in a generation. To the extent that the pandemic put Disney and Warner Bros. on the defensive against Netflix and Amazon, it was absolutely crippling to Paramount and Sony. 2020 was supposed to be the year they “fought back” after Disney’s 2019 fire sale.
Paramount lost out on a possible comeback year . Covid “forced” them to sell a number of promising titles to streaming rivals. Streaming is now the Wall Street-approved flavor of the month, even if it’s shortsightedly seen as a replacement for theatrical moviegoing as opposed to potentially a replacement for cable television. After all, films likewould have only been of value for Paramount+ because they were continuations of blockbuster theatrical franchises.
and ticket sales were only nominally decreasing, the vast majority of domestic box office was being spent on a smaller portion of theatrical releases. In 2011, the top six movies earned 16.9% of the total domestic box office. By 2018, it was 25.5%. That isn’t fatal for theaters (a popcorn bought during
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