During an internal call conference call, the Chairman and CEO of Sony Pictures Entertainment expressed optimism about next weekend’s release of BAD BOYS: RIDE OR DIE, as well as the outlook for moviegoing overall. Tony Vinciquerra placed much of the blame for this year’s depressed box office on last year’s writers’ and actors’ strikes, having disrupted production and release schedules.
He maintained that this contributed to “people [getting] out of the habit of going into theaters. As the marketplace begins to recover in terms of having big films, you’ll see people start to go to theaters again.”
Vinciquerra is optimistic about the opening weekend of BAD BOYS: RIDE OR DIE, saying that the film is tracking “just fine.” He stands by earlier projections of a $50 million debut. He also pointed to solid results from Sony’s THE GARFIELD MOVIE, which opened May 24th, and surging interest in SPIDER-MAN: BEYOND THE SPIDER-VERSE, which does not yet have a definite release date. Some are speculating that it could appear in theatres by the end of this year.
While Vinciquerra didn’t speak to it directly, he alluded to ongoing negotiations between Sony and Paramount by explaining his company’s approach to growth and acquisition opportunities. He emphasized that Sony had no plans to operate “other businesses… outside of the strategy that we’ve defined,” but would instead continue its focus on “more IP, more products…more library to sell.”
Many interpreted this to mean that after a potential merger, Sony would shed Paramount’s streaming or cable businesses, which make up over half of all Paramount Global’s current assets. He also mentioned that talks between Sony and Paramount are “still progressing.”