Paramount is the latest major studio in Hollywood to unveil its plans to change the theatrical release window. In a presentation to investors with details on the launch of its new Paramount+ streaming services, the studio reaffirmed its commitment to theatrical releasing while at the same time recognizing the central role that streaming has assumed in distribution. Studio head Jim Gianopulos announced that its upcoming tentpoles Mission: Impossible 7 and A Quiet Place 2 will become available on Paramount+ 45 days after their theatrical debut, cutting in half the traditional 90-day release window. One year ago, this announcement would have registered as a blow for exhibition, but now in 2021 it seems downright generous, given the less theatre-friendly approaches announced first by Universal and then by Warner Bros. The studio suggests that a 45-day window is the best balance to maximize the box office while still giving consumers the opportunity to watch these titles at home as PVOD rentals while they are still fresh. Gianopulos explained, “We believe in the power of theatrical releases and we have faith that after things get back to normal, audiences will enthusiastically return to theaters. At the same time, consumers have increasingly embraced streaming as another way to enjoy films. Our strategy accounts for both.”
See also: ‘Mission: Impossible 7,’ ‘A Quiet Place 2’ to Debut on Paramount Plus After 45 Days in Theaters (Variety)